The Yonkers Industrial Development Agency recently approved incentives for two new mixed-income residential properties.
The Yonkers Industrial Development Agency has granted preliminary approvals for an incentives package in support of a new 14-story residential building. Located within the Monarch at Ridge Hill planned community, the tower will debut as Horizon at Ridge Hill and is the community’s third residential tower.
Hudson Hill at 76 Locust Hill Avenue is poised to debut as one of the most sustainably designed affordable housing buildings in Yonkers, New York. As part of the New York State Energy Research and Development Authority’s Building of Excellence Competition, project plans were presented by developer Westhab, Inc. and Amie Gross Architects, which was awarded $1 million to complete the building.
The Yonkers Industrial Development Agency has granted final approvals for a seven-story rental building at 56 Prospect Street. The incentives package is valued at $32.6 million and is awarded to Regency Apartment Ventures, LLC, the Long Island-based developer responsible for the project.
In 2020, the Municipal Housing Authority for the City of Yonkers (MHACY) was responsible for the renovation of 1,336 affordable housing units as well as the new construction of 425 units to be completed this year.