Mayor Mike Spano and other city officials joined with Erin Construction and Development Co. today for the groundbreaking of 9-11 Riverdale Avenue, a nine-story, mixed-use residential and commercial building to be built on a vacant lot along a prime corridor of Getty Square.
The $9.4 million development, which last year received financial incentives from the Yonkers Industrial Development Agency, will feature 29 rental apartments and 2,150 s/f of ground-level commercial space.
The building will have a mix of six studios, 21 one-bedroom units and two two-bedroom units. It will also have a roof-top terrace with Hudson River views, a 700 s/f common area for residents as well as basement storage and bike rack.
Monthly rents will start at $1,200. The project will create four affordable apartments and will generate an estimated $700,000 in additional property tax revenues for the city.
“We are happy to see this long-vacant lot come to life with more residential and commercial space, inviting more activity to our downtown,” said Mayor Spano. “Shovels are in the ground, dollars are being invested and Yonkers is back to business. Thank you to Erin Construction for your commitment to Yonkers.”
The project team includes Calyx, Zarin Steinmetz, H2M, CPC, Goldstein Hall. John Murnane, CEO and founder of Erin Construction, commented, “From its inception, we continuously sought ways to bring to bear a project that would meet the needs of the community without pricing out the market. This is no easy feat, particularly now in light of dramatic changes to our industry in light of the pandemic. With the continued support of all of you here, we can accomplish that goal, whatever it takes.”
The property is located in the DM-X Mixed Use District which has a high concentration of commercial, residential and institutional development in the Downtown. The zone encourages ground-floor commercial uses to activate the street-level environment.