With $1 Billion in Development, GenY Campaign Kicks-Off Round 2

So how much is being invested in Yonkers at the moment?

One billion … Yup, with a B.

There’s more than $1 billion in commercial and residential development going on in Yonkers at the moment. A few hundred million here, a few hundred million there, and viola … you’ve got yourself major movement in the city.

Mayor Mike Spano made the proclamation this week when he and other business leaders announced the second iteration of the very successful Generation Yonkers campaign – one that shows that Yonkers is the next urban frontier, a happening place to live, work and play.
The campaign, created by Thompson & Bender, captures the excitement and energy that’s going on in Yonkers. Granted, I’m a little biased (I’m a Yonkers native and work at T&B), but after living in these parts for decades, I can tell you that Long Island City, Hoboken and Jersey City got nothing on us. And we’re actually closer to some parts of Manhattan than Brooklyn — with or without an express train.

And we’re hip. The hippest town, in fact, in the Lower Hudson Valley, as voted by the readers of LoHud.com.

Don’t take my word for it. Here’s what others are saying:

“Yonkers is on the cusp of becoming the next Hoboken or Williamsburg. It’s got everything young people are looking for,” says Joe Cotter, President, iPark, whose company is transforming a building in his iPark complex in Yonkers into 100 micro-unit, loft-style apartments targeted to Millennials.

“People are rushing to Yonkers now. They’re discovering what I’ve known for a lifetime,” says Peter Kelly, renowned chef and owner of X2O Xaviars on the Hudson who was born and raised in Yonkers.

Still not sold? Check out these numbers; they tell the story of a city that has real economic development chops.

$1 Billion of Economic Development in Yonkers

Larkin Plaza | $200 Million

Located just steps away from the Yonkers Metro North station and directly across from the award-winning daylighted Saw Mill River Park, RXR Realty & Rising Development will build 25-story and 17-story residential unit towers and 40,000-square-feet of ground-level retail and restaurant space.

Teutonia Buena Vista | $149 Million

Located at the site of the former Teutonia Hall, an 18th Century German Opera Hall in Downtown Yonkers, Metro Partners, whose other Yonkers projects include the successful 66 Main and Trolley Barn developments, will build a 360-unit, 24-story residential tower on Buena Vista Avenue.

Fed Ex | $121 Million

Fed Ex is relocating from the Bronx to Yonkers. Demolition of existing buildings is currently underway to make way for a 123,000-square-foot regional distribution center on Tuckahoe Road, providing the company with easy access to Yonkers’ network of highways which include I-87, Sprain Brook Parkway, Saw Mill River Parkway and Cross County Parkway.

Palisades Point | $115 Million

Located on Yonkers’ beautiful Hudson River waterfront, the Palisades Point development will add nearly 600,000-square-feet of residential space to the downtown. The 6-story, 324-unit buildings will directly connect residents to Yonkers’ river esplanade, parks and restaurants.

River Tides | $100 Million

One of the largest residential developments currently under construction in Yonkers in recent years, Ginsburg Development Companies’ (GDC) River Tides is a 330-unit luxury rental complex located just a short walk from the Greyston Metro North Station. The 10-story building features a mix of studio through 3-bedroom units.

Hudson River Park Club | $85 Million

The third and final phase of Collins Enterprises’ successful Hudson Park residential complex, Hudson River Park Club is a new 230,000-square-foot, 16-story downtown waterfront residential building with one- and two-story rental units.

The Boyce Thompson Center | $35 Million

Simone Development is transforming the long-abandoned Boyce Thompson Institute on North Broadway across the street from Alder Manor and the Lenoir Preserve into a modern 85,000-square-foot mixed-use complex of offices, medical space and retail. Before even breaking ground, Simone leased 15,000 square feet to St. John’s Riverside Hospital.

Cintas | $25 Million

Uniform-cleaning & maintenance company Cintas will build its regional operations center in South Westchester Executive Park. The 60,000-square-foot facility will be the base of service operations for the company’s metro area customers, relocating 160 jobs to North Yonkers.

UNO Micro Units at i.Park | $15 Million

Located in the former Otis Elevator complex in downtown Yonkers, the UNO project by National Resources Development will transform the existing structure into loft-style rentals and add an additional four stories to the building. Units will feature ceilings ranging from 14 to 20 feet, oversized industrial windows and open floor plans.

Other Projects | $216.25 Million

• 188 Warburton | $29 Million
• Adira Rehab at St. John’s Riverside Hospital | $26 Million
• Courtyard by Marriott at South Westchester Executive Park | $24 Million
• Grant Park II | $22 Million
• Met Lofts Luxury Condominiums on Palmer Road | $21 Million
• Hilton Hampton Inn on Tuckahoe Road | $20 Million
• GDC’s 55-Unit Residential Building on Warburton Avenue | $18 Million
• 470 Nepperhan Ave | $13.50 Million
• i.FLY Indoor Skydiving at Ridge Hill | $10 Million
• OZ Moving | $10.5 Million
• Alder Manor | $8.5 Million
• 179 Saw Mill River Road | $7.25 Million
• Fast Linen | $4 Million
• Leggiadro | $2.5 Million

Join the excitement. #GenerationYonkers. Be Part of it.