A new rendering was recently unveiled for 70 Jackson Street, an eight-story residential building in Yonkers, Westchester County. Designed by Meridian Design Associates and developed by Alma Realty Corp., the 150,000-square-foot structure will yield 128 units, with 10 percent dedicated to affordable housing. The property is located between Jackson Street and Groshon Avenue.
The rendering depicts the eastern elevation facing Groshon Avenue, previewing a U-shaped massing clad in white and gray paneling. Balconies will line the wings on either side of the building, which will also feature decorative pediments. New tree-lined sidewalks and shrubbery will surround the property.
The property was formerly occupied by a school building that was demolished in the mid-2010s.
70 Jackson Street, circa October 2007. Image via Google Maps.
Construction began in 2018 but stalled for financial reasons with only a small portion of the reinforced concrete superstructure built. The first image below shows the Jackson Street side, while the second image shows the view from Groshon Avenue.
70 Jackson Street, circa January 2022. Image via Google Maps.
70 Jackson Street, circa January 2022. Image via Google Maps.
Arrow Real Estate Advisors recently arranged a $28 million construction loan on behalf of Alma Realty Corp. to help restart the project. The financing was provided by BHI and arranged by Schmuckler, Morris Betesh, Jacob Petrovic, and Jonah Schultz. The loan was also transacted simultaneously with agreements involving the Yonkers Industrial Development Agency (IDA) and the Yonkers Economic Development Corp. (EDC).
“Pairing two institutional partners positions this project for long-term success while delivering high-quality market-rate and affordable housing in one of the fastest-growing and most dynamic markets in Westchester County,” said Jacob Schmuckler, senior director at Arrow Real Estate Advisors.
A revised construction timeline for 70 Jackson Street has yet to be announced.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
This seems inspired by the “elevator apartment buildings” of the 1920s.