The City of Yonkers is set to launch one of its largest investment initiatives to transform the downtown center into a vibrant mixed-use hub of commerce and residency. New developments will be primarily located at the confluence of the Hudson and Saw Mill Rivers.
The Lionsgate Motion Picture Group will soon debut a new studio complex in Yonkers following the approval of a major financing package from the city’s development agency. The project is expected to create up to 420 permanent jobs as well as 400 construction jobs.
Construction is expected to break ground soon at 57 Alexander Street, a 440-unit residential building in Yonkers, New York, following approvals for a major financing package valued at $177.3 million. The deal was approved by the Yonkers Industrial Development Agency, a public benefit corporation that provides business incentives to enhance economic growth in the City of Yonkers.
Earlier this month, Sarah Lawrence College opened the newly completed Barbara Walters Campus Center just in time for the class of 2023 to begin first-year coursework. The $35 million project serves as a welcome center and gathering place for those visiting the institution’s Yonkers campus.
Last week, media-focused investment firm Great Point Capital Management signed on entertainment company Lionsgate as its anchor tenant for a new $100 million production-studio development in Yonkers. Lionsgate will also be an investor in the project that includes five studios and a back lot near the Yonkers downtown Metro-North train station. Also a partner in the joint venture is developer National Resources.