The Yonkers Industrial Development Agency recently approved incentives for two new mixed-income residential properties.
Yonkers Industrial Development Agency
The Yonkers Industrial Development Agency has granted preliminary approvals for an incentives package in support of a new 14-story residential building. Located within the Monarch at Ridge Hill planned community, the tower will debut as Horizon at Ridge Hill and is the community’s third residential tower.
The Yonkers Industrial Development Agency has granted final approvals for a seven-story rental building at 56 Prospect Street. The incentives package is valued at $32.6 million and is awarded to Regency Apartment Ventures, LLC, the Long Island-based developer responsible for the project.
The Yonkers Industrial Development Agency has preliminarily approved financial incentives to facilitate the construction of a new $32.6 million rental property. Located at 56 Prospect Street, the seven-story building will contain 126 apartments and associated amenity spaces.
A block in the Warburton Ravine Urban Renewal Area of Yonkers will soon see a significant overhaul thanks to the Yonkers Industrial Development Agency (IDA). On September 4, the IDA gave preliminary approval of financial incentives for a $72 million development known as Point & Ravine Apartments, developed through a public partnership between the City of Yonkers and developer Conifer Realty LLC. Construction costs are estimated at $43.4 million and land acquisition at $8.24 million.