$585 Million Development Breaks Ground in Yonkers
In what will be one of the largest mixed-use communities in the Westchester Area, executives from Extell Development Company Thursday joined Yonkers Mayor Mike Spano and other city, county and state officials and business leaders for a groundbreaking ceremony for Hudson Piers, signifying the official start of construction.
When completed, the $585 million, multi-phase complex will include approximately 1,400 luxury and affordable apartments, exciting retail, and a new riverfront esplanade along a prime waterfront location with beautiful views of the Hudson River across to the Palisades.
“Extell’s Hudson Piers will be one of the most transformative developments along the Yonkers waterfront,” said Yonkers Mayor Mike Spano. “It will cap off the extraordinary momentum seen in recent years that’s spurred unprecedented investment in our city.”
“We are proud to be a part of the incredible redevelopment which has turned Yonkers into the fastest growing big city in New York State under Mayor Mike Spano,” said Gary Barnett, Founder & Chairman of Extell Development Company.
Hudson Piers is the city’s final waterfront development and will complete the transformation of an expansive former industrial site into a highly desirable, heavily-amenitized, residential enclave. The project, which will be developed in three phases over a 6-year period, is expected to create 200 permanent jobs and 450-500 construction jobs.
The development consists of residential space across six, seven-story buildings, with over 37,000 rentable square feet of ground floor retail space. Hudson Piers will offer a mix of studio- to-three-bedroom residences. As part of the Hudson Piers project, 1.5 acres of new public parkland will be created as well as a 1.5-mile-long esplanade extension that will adjoin to the existing public waterfront promenade seamlessly integrating the property into the greater Yonkers community.
Among the dignitaries attending the groundbreaking event were BCW Executive Vice President and COO John Ravitz. Extell is a member of the BCW’s Coalition for Smart Development.
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