Yonkers Greenlights $129 Million of Incentives for Two New Projects

Photo courtesy Hudson at Ridge Hill LLC | Thompson & Bender

Westchester County’s most populous city is about to get a whole lot roomier, thanks in part to two new affordable housing projects.

The Hills are alive with the sound of moving vans! The Board of Directors of the Yonkers Industrial Development Agency (YIDA) recently voted final approvals granting financial incentives to two new residential development projects: Horizon at Ridge Hill and Hudson Hill. Among these incentives are a few of everyone’s favorite things, including the expected creation of 183 construction jobs and 12 new full-time jobs.

Horizon at Ridge Hill and Hudson Hill together represent a total private investment of $129 million with the motivation of developing quality, affordable housing in the area. Of that investment, $75 million is planned to be used in the construction of Horizon at Ridge Hill, the third addition to the Monarch at Ridge Hill Community on Ridge Hill Boulevard in Yonkers. 

Located on currently vacant land south of the two previously built towers, this 225,000-square-foot project will scale up to 14 stories tall and will provide an additional 180 rental apartments to the 342 occupied (or soon-to-be occupied) units in Towers 1 and 2. Among these 180 units will be seven studios, 105 one-bedroom, 64 two-bedroom, and four three-bedroom apartments. Future residents of Horizon at Ridge Hill will also be happy to learn that they will be granted full access to the adjoining amenity building, where they can take advantage of a gym, children’s playroom, movie theater, and swimming pool. Horizon at Ridge Hill is currently being developed by Hudson at Ridge Hill LLC, whose parent company is Azorim, the largest development company in Israel.

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hudson hill
Courtesy Hudson Hill | Thompson & Bender

The remaining $53.9 million of the project’s private investment will be dedicated to the development of Hudson Hill, a residential community for low-income families. The six-story building on Locust Avenue will accommodate 113 affordable housing rental units, including 19 studios, 45 one-bedroom, 44 two-bedroom, and five three-bedroom apartments. A total of 45 of these units will be designed to provide support for tenants who were previously homeless, and the building itself will also include a community room, recreation room, outdoor courtyard garden, and 84-space parking garage.

Currently being developed by Westhab, Hudson Hill is already a winner. The project was chosen to receive NYSERDA’s Buildings of Excellence Award, the highest honor given by New York State for energy efficiency and sustainability. Being awarded this honor has made Hudson Hill the first project in Yonkers to do so since the competition began in early 2019 and, with more development projects on the horizon, it is doubtful it will be the city’s last.

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