MSY Group has received preliminary approval for financial incentives to support a $39.1 million affordable senior housing development project in Yonkers. The development will transform 0.47 acres of vacant land at 221-223 Buena Vista Avenue into a nine-story multi-family residential building designed specifically for seniors.
The building is planned to yield 94 units in 40 one-bedroom and 54 studio layouts. It will also include 47 parking spaces and a rooftop green space. Additionally, the property will feature a community room and a fitness center.
The project is expected to create up to 100 local construction jobs. To support the development, MSY Group has requested a comprehensive financial incentive package, which includes a $1,819,375 sales tax exemption, a $650,455 mortgage recording tax exemption, and a 15-year Payment in Lieu of Taxes agreement.
221-223 Buena Vista Avenue is located a short walk from stops for the 8 bus line, along with the Ludlow MTA station, which is served by the Hudson Line train.
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Please I would like to reside at your 221-223 burns vista Apartments, I’m retired, I’m 66 years old,worked 30 years at the postal service, Email ([email protected])
On the specially designed for the elderly, they will live together happily under tax exemption: Thanks.
Watch out, granny’s driving again!
Yes yes I like it. Thank you