Yonkers IDA Approves Ten-Year Tax Abatement Program For 9-11 Riverdale Avenue

9-11 Riverdale Avenue - Erin Construction & Development Co.9-11 Riverdale Avenue - Erin Construction & Development Co.

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.

More commonly referred to as the IDA, the government agency provides business development incentives to enhance economic development and job growth in the City of Yonkers. On July 31, the agency’s board of directors gave its final approval on an incentives package for the nine-story development including a ten-year tax abatement program.

The building is designed by H2M Architects + Engineers and will eventually comprise 29 rental apartments and 2,150 square feet of ground-floor commercial area. As previously revealed by YIMBY, residences include a mix of six studios, 21 one-bedroom units, and two two-bedroom units. Ten percent of the apartments will be reserved for individuals and households at 80 percent area median income. Future residents will also have access to a rooftop terrace and 700 square feet of common area for storage and bike racks.

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