As Westchester struggles with the ongoing COVID-19 pandemic, large urban centers are most keenly feeling both health and economic impacts of the virus. As many Westchesterites seek to reduce their rent and mortgage burdens, Yonkers, the largest city in the county, is betting big on new housing projects to meet these evolving needs.
Early in October, Yonkers Mayor Mike Spano met with city officials to break ground on a new mixed-use building to utilize a currently vacant lot along a corridor of Getty Square. The $9.4 million development will eventually include 29 rentals — six studios, 21 one-bedrooms, and two two-bedrooms — and more than 2,100 square feet of ground-level commercial space, plus storage, common areas, and a rooftop terrace.
Rents will start at a very affordable (for Yonkers) $1,200 per month, while the entire project is expected to bring in an estimated $700,000 for the city in property tax revenue.
Recently, Mayor Spano was also on hand to celebrate the grand opening of The Marquee, a new 160-unit luxury apartment building on Bronx River Rd. Among the six studios, 42 one-bedrooms, 91 two-bedrooms, and 21 three-bedrooms, 10 percent (approximately 16 units) will be designated under the city’s affordable housing program.
Amenities include common areas and on-site laundry, parking garage, and concierge service, among others. Market rates start at around $2,250 per month.
The Yonkers Industrial Development Agency also granted approval for financial incentives to a seven-story apartment complex, building on what is now vacant properties on the corners of Prospect, Buena Vista Ave, and Hawthorne Ave. The $32.7 million project from Regency Apartment Ventures LLC will eventually comprise 126 rental units — 90 studios, 18 one-bedrooms, and 18 two-bedrooms — of which 13 will be set aside at affordable rates. Each unit will include full-sized kitchens and in-unit laundry (a huge draw for urban dwellers), while communal spaces include landscaped courtyard and rooftop terrace overlooking the Hudson, and even a “green roof” along other sustainability features.
The construction is expected to create around 250 local jobs, as well as six permanent full-time positions.