The Yonkers Industrial Development Agency has granted preliminary approval for financial incentives supporting three new mixed-use developments, representing a total private investment of approximately $463.5 million. Among these projects is AMS Acquisitions‘ $306.7 million development at 18 North Broadway in Yonkers. The project will consist of two 25-story residential towers.
18 North Broadway plans to yield 650 apartments in total, with 10 percent designated as affordable housing. It will include 1,000 square feet of ground-floor commercial space and a 768-space parking structure.
The development is expected to create up to 800 construction jobs and 14 full-time and part-time jobs upon completion. To support the project, AMS Acquisitions has requested a comprehensive financial incentive package, including tax exemptions and a 20-year PILOT agreement.
18 North Broadway is a short walk from a number of bus lines, and a 6-minute walk from the Yonkers train station, which is served by trains from Amtrak and the Metro-North Railroad.
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Yonkers “leaders” What is with having more new parking spaces than housing units?
Are you determined that more traffic and air pollution is your desired future?
the suburbs are even more Robert Moses-brained than NYC is
The 768-seat parking structure is quite a lot, have you studied the effects yet? Thanks.
This is outside NYC proper. It is not connected to the subway system. Many, if not most of the jobs are there in Yonkers or even further out in Westchester County. So a commuter train does not help except heading into the city for shopping or fun. With a two adult two earner family, two cars per household may be necessary. This is typical everywhere except where fixed mass transit is present.
Amen to this. Too many commenters seem to forget that—unlike most cities—NYC’s inner suburbs aren’t connected to the subway system.