TODs Main Focus of Brokers Tour of Downtown Yonkers Properties

Real Estate In-Depth | July 2016

YONKERS—Transit Oriented Development was the focus of an exclusive brokers tour of residential projects under construction near Metro-North train stations in Downtown Yonkers last month. More than 30 commercial and residential brokers were on hand for the tour conducted by the city’s Department of Planning & Development.

Projects on the tour included River Tides at Greystone, Hudson Park Club and UNO Micro Unit Apartments.

River Tides at Greystone is a 330-unit, 10-story luxury rental complex overlooking the Hudson River. The project, which is being developed by Ginsburg Development Companies, will have a direct walkway to the Greystone Metro-North station.

Hudson Park Club is the latest addition to Hudson Park luxury rental complex. The 230,000-square-foot building features 213 studio and one- and two-bedroom apartments. Located just blocks from the Yonkers Metro North train station, Hudson Park Club is being developed by Collins Enterprises.

UNO Micro Unit Apartments is a $15-million development project transforming Building 2 at iPark into 100 micro-unit apartments. Developed by National Resources, the project is a short walk to the Yonkers Metro-North train station.

Executives from Ginsburg Development, Collins Enterprises and National Resources made presentations at each of the projects on the tour.

Following the tour, Yonkers Mayor Mike Spano welcomed the brokers at a cocktail reception held at the Boyce Thompson Center, an 85,000- square-foot, mixed-use center featuring Class A office/medical space, retail stores, banking and restaurants. The center, which is being developed by Simone Development Companies, is a creative restoration of the historic Boyce Thompson Institute.

“Transit Oriented Development is a fast-growing trend in urban planning that is creating vibrant, livable and sustainable communities. Yonkers is on the cutting edge of this exciting new trend. We are very pleased to have shared with the brokerage community these important transit oriented developments that are bringing new energy to downtown Yonkers,” said Mayor Spano.

This is the second consecutive year that the City of Yonkers has conducted broker tours of real estate developments in the city. Last year, commercial brokers toured office and loft space in the former Otis Elevator complex and the Alexander Smith Carpet Mills Historic District.

Photo Caption: Attending the reception at the Boyce Thompson Center were, from left, Joseph Cotter, president, National Resources; Yonkers Mayor Mike Spano; Guy Leibler, president, Simone Healthcare Development, and Yonkers Commissioner of Planning and Development Wilson Kimball.