The massive redo of the downtown area is proposing 1,386 housing units, over 450,000 square feet of retail, roughly 90,000 square feet of restaurant, approximately 475,000 square feet of office, close to 80,000 square feet of cinema space, a 150-room hotel, a new fire department headquarters, a minor league baseball park and 4,000 public parking spaces.
The project is broken down into four different sites. The first is Palisades Point, a complex with two 25-story, residential towers and retail, along with a "riverfront esplanade", according to a release. This will go in tandem with the reopening of the Saw Mill River, which entails uncovering parts of the river to create a public riverwalk.
The Cacace Center will be a complex of offices, a hotel, the new fire department headquarters and parking facilities on Nepperhan Avenue and South Broadway. Finally, the River Park Center is a proposed,mixed-use complex on 13 acres just east of City Hall. The complex will incorporate retail, residential and office into approximately two million square feet.
Yonkers Mayor Phil Amicone says in a statement that the SFC project is the "centerpiece" to revitalize downtown Yonkers, which is why the public has shown such stolid support. Some of the expected benefits of the project are the expansion of city-owned parkland; the clean-up of contaminated city-owned property at no cost to the taxpayers; improvements to storm water management; modernizing collection and minimizing unnecessary water flow to the Westchester County Sewage Treatment Plant; creation of affordable housing to comprise 14% of SFC-built residential units; and traffic flow improvements with synchronized traffic lights and off-street parking lots.
The SFC had engaged in an outreach program, which involved public meetings throughout the approval process, leading to adjustments to the proposal, such as lowering the twin residential towers from 50 stories to 40 stories. SFC did not return GlobeSt.com inquiries by deadline.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
