The Yonkers Industrial Development Agency, which provides business incentives to enhance economic growth in the City of Yonkers, has approved a major financing package for a 440-unit residential building in Yonkers, New York.
The project, at 57 Alexander St., is expected to break ground soon after securing a $177.3 million package, New York Yimby reports.
The seven-story building will be developed by Rose Associates. Its 75 percent of the units will be studio and one-bedroom apartments, while 10 percent of units will debut as affordable homes.
The project will also offer 443 parking spaces and 25,000 sq. ft. of open space. It is estimated to create approximately 631 construction jobs and ten full-time positions.