While the Black homeownership rate (44.7%; +0.6 percentage points) achieved the highest annual gain among all races in 2023, it remains substantially lower than White (72.4%; +0.1 percentage points).
In 2018, Lowey became the first chairwoman of the House Committee on Appropriations.
Since 2019, the developments are projected to create over 7,500 new residential units and more than 8,800 construction jobs.
Since 2019, the developments are projected to create over 7,500 new residential units and more than 8,800 construction jobs.
YONKERS—The Yonkers Industrial Development Agency reported on March 13 that it ended 2024 with another record year, following a robust 2023. The YIDA voted for the preliminary and final approval of financial incentives for residential projects representing a total private investment of approximately $1 billion. The developments are projected to create approximately 2,100 new residential units and approximately 2,400 construction jobs.
Since 2019, the Yonkers IDA has voted financial incentives for development projects representing a total private investment of approximately $3.6 billion. The developments are projected to create over 7,500 new residential units and more than 8,800 construction jobs. Ten percent of all new residential units are set aside for affordable housing.
“2024 was another tremendous year for the continued redevelopment of Yonkers, with nearly $1 billion in private investment,” said Yonkers Mayor Mike Spano, who also serves as YIDA Chair. “This extraordinary investment in our city is creating thousands of construction jobs as well as new housing units, both market rate and affordable. We are looking to build on the momentum of 2024 with another record year of success in 2025.”
Developments that received preliminary and final approval of incentives from the Yonkers IDA in 2024 included:
North Broadway Development
Developer: AMS Acquisitions
Location: 18 North Broadway
Total Private investment: $306.7 million
Number of units: 650
Construction jobs: 800
325, 335 and 337 South Broadway
Developer: Urban Builders Collaborative
Location: 325, 335 and 337 South Broadway,
Total Private Investment: $162 million
Number of units: 185
Construction jobs: 300
Park Square
Developer: Titan Real Estate Development
Location: Bounded by St. Joseph Place, Cavalli Circle and Vineyard Avenue 18 North Broadway
Total Private Investment: $159.5 million
Number of units 340
Construction jobs: 572
The Parker
Developer: MacQuesten Development
Location: 632-636 South Broadway
Total Private Investment: $116.2 million
Number of units: 160
Construction jobs: 260
Abbey on the Park
Developer: Kearney Realty & Development Group Inc.
Location: 21-23 Park Avenue
Total Private Investment: $57.7 million
Number of units: 82
Construction jobs 150
Warburton Avenue Apartments
Developer: Center for Urban Rehabilitation and Empowerment, Inc. and Conifer Realty, LLC, in partnership with the City of Yonkers
Location: 322 Warburton Avenue
Total Private Investment: $53.3 million
Number of units: 93
Construction jobs: 179
221 Buena Vista
Developer: MSY Group
Location: 221-223 Buena Vista Avenue
Total Private Investment: $39.1 million
Number of units 94
Construction jobs: 100
Hilton Hotel
Developer: 555 Storage Group Inc
Location: 559 Tuckahoe Road
Total Private Investment: $2.3 million
Construction Jobs: 30
Finian Sullivan Tower
Developer: Sacred Heart Associates.
Location: 1 Father Finian Sullivan Drive
Total Private Investment: $12 million
Number of units: 150
Construction Jobs: NA
Cromwell Towers
Developer: Metropolitan Realty Group
Location: 77 Locust Hill Avenue
Project Cost: $91 million
Number of units: 317
Construction jobs: 35
While the Black homeownership rate (44.7%; +0.6 percentage points) achieved the highest annual gain among all races in 2023, it remains substantially lower than White (72.4%; +0.1 percentage points).
In 2018, Lowey became the first chairwoman of the House Committee on Appropriations.
Apicella noted that the Trump administration seems intent on eliminating or severely cutting back on federal green energy funding, which he said is critical to many new development projects.
Unlike many commercial brokers, Minichino did not start out listing and selling residential properties.
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