$48-Million Yonkers Affordable Project Opens

Located at 23 Mulberry St. in the Hollow neighborhood of South Yonkers, the $48 million, four-story building has 60 energy-efficient, affordable apartments for seniors.

$48-Million Yonkers Affordable Project Opens
From left, Sharmi Sobhan, Managing Director, Chase Community Development Banking; Yonkers City Councilwoman Tasha Diaz, Denise Egiziaco, Yonkers Housing Authority Board Member and Mayor Spano’s Chief of Staff; HUD Regional Administrator Alicka Ampry-Samuel; Westchester County Executive George Latimer; Mulford Corporation President Wilson Kimball; Yonkers Mayor Mike Spano; Mulford Corporation Chairman James Landy; NYS Senate Majority Leader Andrea Stewart-Cousins; Alexa Sewell, Senior Vice President for Multifamily Programs NYS Homes and Community Renewal; Yonkers Housing Authority Commissioner Joan Deierlein; Dan Magnison of Enterprise Community Partners; Yonkers City Council President Lakisha Collins-Bellamy, and Westchester Deputy County Executive Ken Jenkins

YONKERS—Officials from the City of Yonkers, New York State, Westchester County, U.S. Department of Housing and Urban Development and the NYS Homes and Community Renewal joined with the Mulford Corporation on July 9 to celebrate the grand opening of La Mora Senior Housing.

Yonkers officials noted that La Mora is one of the few affordable housing projects in the nation that uses energy-saving Passive House design in a modular construction format.

Located at 23 Mulberry St. in the Hollow neighborhood of South Yonkers, the $48 million, four-story building has 60 energy-efficient, affordable apartments for seniors. La Mora Senior Housing was built by the non-profit Mulford Corp. of Yonkers.

Passive House design is a voluntary standard for energy efficiency which results in ultra-low-energy buildings that require little energy for space heating or cooling. It is estimated to achieve 40%-60% energy savings over a conventional building design.

"The grand opening of this beautiful new senior housing development is yet another example of how the City of Yonkers and the Mulford Corporation are working together to revitalize our neighborhoods with affordable, quality-built housing. We applaud the Passive House sustainable design incorporated into the construction, which is in line with the City’s climate action plan for sustainable growth,” said Yonkers Mayor Mike Spano.

"The Mulford Corporation is incredibly grateful for the financial support La Mora has received at every level of government from the City, county, state and federal government. Allowing Yonkers seniors to age in place in the most resilient housing possible was clearly a collective vision,” said Wilson Kimball, President of Mulford Corporation.

Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “It is so gratifying to see this $48 million development up and ready, just two years after the groundbreaking. This project brings 60 affordable, energy-efficient homes to Yonkers and is a testament to how we value and respect our seniors. Our thanks to Governor Hochul, the City of Yonkers, Mulford Corporation and our many partners and trades who worked with HCR to make this real and are helping us provide the types of housing opportunities that allow more New Yorkers to remain in the communities and neighborhoods they love.”

Financing for La Mora Senior Housing includes $17 million in permanent tax-exempt bonds, Federal Low-Income Housing Tax Credits that will generate $17.7 million in equity and $9.1 million in subsidy from New York State Homes and Community Renewal. NYSERDA provided $240,000, Westchester County provided $3.4 million from the Housing Implementation Fund and the City of Yonkers provided $1,615,000 in HOME funds. Mulford Corporation provided a $2.6 million loan.

Designed by the architectural firm of Perkins Eastman, the apartments include low-flow plumbing fixtures, Energy Star appliances, individual high-efficiency electric heat and cooling, and LED lighting. The building has a high-efficiency envelope, dual-pane insulated windows, and a central hot water heating and distribution system. An emergency generator will ensure that the building systems remain operable in the event of a blackout.

In addition to the energy-saving features, other amenities include a community room with a kitchen, two business rooms, a fitness center, central laundry, building-wide WIFI, storage units, a landscaped courtyard and a rooftop deck.

Real Estate In-Depth

Real Estate In-Depth is the official publication of the Hudson Gateway Association of Realtors.

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