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.
Real estate development and investment company LCOR is set to commence construction this month on Hoboken Connect, a mixed-use complex along the Hudson River waterfront in Hoboken, New Jersey. The development will feature a residential tower, an office building, and public open space across a nearly two-acre footprint around Hoboken Terminal.
WatchHouse, a London-based specialty coffee roastery and café, has opened its first United States location at 660 Fifth Avenue, a recently renovated 39-story commercial tower in Midtown, Manhattan. The coffee shop recently signed a lease for approximately 1,500 square feet on the ground floor. The building is located West 52nd and 53rd Streets and was formerly addressed as 666 Fifth Avenue.
Institutional investment fund sponsor Foss & Company and environmental nonprofit Scenic Hudson have closed on a former manufacturing facility at 58 Parker Avenue and 164 Garden Street in Poughkeepsie. This historic tax credit project will see an extensive renovation and reinvention for five interconnected Standard Gage manufacturing buildings, which have been vacant since the company’s departure from the area in 2002.
