Construction is expected to break ground soon at 57 Alexander Street, a 440-unit residential building in Yonkers, New York, following approvals for a major financing package valued at $177.3 million. The deal was approved by the Yonkers Industrial Development Agency, a public benefit corporation that provides business incentives to enhance economic growth in the City of Yonkers.
Earlier this month, Sarah Lawrence College opened the newly completed Barbara Walters Campus Center just in time for the class of 2023 to begin first-year coursework. The $35 million project serves as a welcome center and gathering place for those visiting the institution’s Yonkers campus.
Last week, media-focused investment firm Great Point Capital Management signed on entertainment company Lionsgate as its anchor tenant for a new $100 million production-studio development in Yonkers. Lionsgate will also be an investor in the project that includes five studios and a back lot near the Yonkers downtown Metro-North train station. Also a partner in the joint venture is developer National Resources.
Erin Construction and Development Company successfully won approvals from the Yonkers Industrial Development Agency to develop a new, partially affordable residential property at 9-11 Riverdale Avenue.
The Yonkers Industrial Development Agency (IDA) has released renderings of two forthcoming affordable housing developments—Dayspring Commons and 9-11 Riverdale Avenue—that will comprise a total of 92 rental homes and a small amount of commercial area.