The Yonkers Panning Board is now considering proposals from Kearney Realty & Development Group to construct a new affordable housing project at 21-23 Park Avenue in Yonkers. The project is known as The Abbey and includes the construction of a new apartment building and a renovation of the Ethan Flagg House and Blessed Sacrament Monastery. Both properties are listed on the National Register of Historic Places.
Preliminary renderings of the building do not reveal much about the look of the property beyond a typical brick façade, horizontal paneling above the second floor, and what appear to be full-height double-hung windows.
Rendering of The Abbey at 21-23 Park Avenue in Yonkers – Kearney Realty & Development Group
Constructed in the 1850s, Ethan Flagg House could be repurposed to contain 49 units, while the new building could contain up to 36 units. If approved, it is estimated that the development will yield between 82 and 85 affordable apartments designated for households between 20 and 50 percent of the area median income. The mix of floor plans would include studios, one-bedroom, and two-bedroom apartments.
The property is also expected to create 24 parking spaces.
According to reports, Kearny Development Group has already acquired the property for $4 million. Total construction costs on top of the acquisition are estimated at $41 million.
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Hey NYC “leaders,” Yonkers is showing you how it should be done.