Phase 3 of Saw Mill River Daylighting Project Begins
Yonkers Mayor Mike Spano officially kicked off the third phase of the Saw Mill River Daylighting project earlier this week by dropping a wrecking ball to demolish several vacant properties in downtown Yonkers. The demolition will revitalize more portions of the long-buried river, including improving river banks and installing plantings to create a 1.25 acre open, green public space and a gateway to the downtown Yonkers shopping district. The soon-to-be public space is located on New Main Street between Nepperhan Avenue and Ann Street. The demolition will expose the currently inaccessible Saw Mill River, which is blocked off by large fencing and invasive plant life. Plans for the space will provide for perimeter pedestrian walkways as well as improved river water quality, improved marine habitat and enhanced water/sewer performance.
Cintas Corporation Coming to Yonkers
Cintas Corporation, which provides uniforms and related products for a variety of industries, has just announced plans to build a $25.1 million regional service facility in Yonkers. The move will help Cintas consolidate operations in Yonkers from several other locations in the Northeast, and the project is expected to provide approximately 160 jobs, under an incentive package given preliminary approval by the Yonkers Industrial Development Agency (YIDA). Cintas will construct a 60,000 square foot facility, which will include 9,000 square feet of office space, a 13,000 square foot laundry, plus additional sales, service and maintenance areas. The new facility will be located in the South Westchester Executive Park, which is located in northwest Yonkers.
Cambria Suites Opens in White Plains
There’s a new lodging option in White Plains: Cambria Suites, a 130-unit, all-suite hotel celebrated its grand opening earlier this week. The hotel, at 250 Main Street, was developed through a joint venture between Danbury, CT-based Meyer Jabara Hotesl and Choice Hotels International Inc., and is part of a $47 million mixed-use development. It was erected on the former site of an old A&P supermarket and is, according to White Plains Mayor Tom Roach, “a great turn of events for the City.” Other tenants in the development include TGI Fridays, Chipotle, Corner Bakery, Wild Fusion Asian Grill, and Planet Fitness, which are all below the hotel.
WTP Advisors To Be Acquired
Ryan, a leading global tax services firm with the largest indirect and property tax practices in North America, has signed an agreement to acquire White Plains-based WTP Advisors (WTP), one of the fastest-growing independent tax practices in the industry. Michael Minihan and Ian Boccaccio, co-founders of WTP, will join the Ryan executive leadership team as Principals to support the integration and drive continued growth and international expansion. The acquisition will add a team of experienced tax professionals to provide additional knowledge and client support across multiple practice areas, while WTP’s core capabilities in international tax compliance and tax provision services will drive growth in Ryan’s rapidly expanding International Tax practice.
Big Funding News From Two Westchester Nonprofits
The Food Bank for Westchester received a grant of $75,000 from the Walmart Foundation as part of both organizations’ commitments to fighting hunger and promoting nutrition among those in need. Walmart representatives awarded the funds at a ceremony held at the White Plains Walmart store on Monday. This grant will support all of Food Bank for Westchester’s emergency food distribution programs to ensure food supplies remain bountiful year-round for the most vulnerable populations, which include children and the elderly. And the Westchester Community Foundation recently announced a new fund: a $1 million endowment from The Patterson Foundation (TPF). By opening this fund, The Patterson Foundation has established the Dorothy Patterson Fund, a $1 million endowment to assist organizations serving those less fortunate in Ossining, Dorothy Patterson’s birthplace. The New York Community Trust, which is the community foundation of New York City, will serve as the fiscal steward of the funds, with its Westchester Community Foundation division administering a competitive grantmaking process..
Hudson Valley Bank to Become Part of Sterling Bancorp
Sterling Bancorp and Hudson Valley Holding Corp. recently announced that they have entered into a definitive merger agreement in a stock-for-stock transaction valued at approximately $539 million. The merger will create a leading regional bank specializing in serving small-to-middle market commercial and consumer clients in the greater New York metropolitan area. Hudson Valley Bank, which is headquartered in Yonkers, has 17 branches in the County, including five in Yonkers. The combined company will continue to operate under the Sterling Bancorp name and its principal banking subsidiary will continue under the name Sterling National Bank. The resulting institution will have a footprint spanning New York City, the Hudson Valley, Long Island and New Jersey.