The Yonkers IDA has issued preliminary approval for financial incentives for The Parker, a 16-story affordable housing project at 632-636 South Broadway in Yonkers. The $116.2 million project is part of a $174.5 million investment initiative that includes another affordable development, The Abbey on the Park, which will be located at 21-23 Park Avenue. Collectively, both projects are expected to create 410 construction jobs and add 242 new residential units to the local market.
The Parker is planned to yield 160 affordable housing units and will cater to families earning at or below 80 percent of the area median income. It will offer seven studios, 69 one-bedrooms, 64 two-bedrooms, and 20 three-bedroom apartments. One of the two-bedroom units will be reserved for a superintendent. Amenities will include a ground-floor fitness center and a laundry facility.
632-636 South Broadway, via Google Maps
The Parker will take a tiered approach to apartment pricing, with 43 percent of apartments targeted toward families earning up to 50 percent of AMI, 47 percent for those earning up to 60 percent AMI, and the remaining 10 percent for families at up to 80 percent AMI.
The construction of the project is expected to create 260 jobs over a 30-month period. Additionally, the completion of the project is projected to create between seven and ten permanent jobs. The Yonkers IDA has issued a sales tax exemption of $2,569,219 to MacQuesten Development, the project’s developer.
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Wait, this is Yonkers. Shouldn’t there be 400 parking spaces?
The local market has the capacity to support it, both create jobs and increase housing on opportunities: Thanks.
Trainwreck architecture. Who is designing this?
There’s a website that I can’t post the link to that shows all the things the building on the site has been throughout the years. Search for it if interested. “Old ads”