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Excelsior!
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Discussion Starter · #1 ·
Westfair: Extell revives plans for 1,395-unit apartment complex in Yonkers

Plans have been revived to build a previously approved 1,395-unit luxury rental apartment complex in downtown Yonkers in a series of phases over the next decade.
Proposed by Manhattan-based Extell Development Co., the six-building development with 51,800-square-feet of commercial space would be on 22 waterfront acres adjacent to the MTA bus depot. The complex would stretch from the former British International Cable Corp. property at 1 Point St. to the Excelsior Packaging plant at 159 Alexander St. at its southern tip.
The development plans include five seven-story buildings and a single 22-story tower at the north end of the site. The five smaller buildings would house five stories of residential apartments over a two-story podium with parking and commercial space.
In the first phase of the three-phase project, the company would redevelop a portion of the southern end of the site to accommodate two buildings totaling 670,135 square feet with 513 residential units and 14,300 square feet of commercial space. A second phase includes two 501-unit buildings totaling 560,120 square feet and 19,400 square feet for commercial tenants.
The company would then build the 22-story, 541,473-square-foot tower on the northern part of the site that is now home to the “Blue Cube,” a 10-story, 30,000-square-foot former industrial laboratory 1 Point St. The proposed 277-unit tower would also feature 7,100 square feet of commercial space. A final 115,370-square-foot building housing 103 units and 1,100 square feet of commercial space would also be constructed during the final phase.
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Super Moderator
Excelsior!
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21,624 Posts
Discussion Starter · #4 ·
Developer wants $20 million tax break from Yonkers



Extell Hudson Waterfront has asked the Yonkers Industrial Development Agency for $15.4 million in sales-tax breaks on construction materials and $4.9 in mortgage-recording tax breaks for various properties it will acquire along Alexander Street, Water Grant Street and Babcock Place. The developer also seeks a 30-year payment in lieu of taxes agreement known as a PILOT consisting of an annual payment of $4.5 million.
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the project will be built in phases over 10 years.
 
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