Author: Jim Cavanaugh - Thompson & Bender  -  August 2017



If you haven't checked out the downtown Yonkers skyline lately, you should, because it's changing fast.  RXR Realty's 25 story Larkin Plaza residential towers are well underway.  

Assisted with incentives from the Yonkers Industrial Development Agency, the towers form the center of an unparalleled burst of residential development in the hot Yonkers market.

When complete in 2018 the project will create 442 new residential units just a block from the City's train station and fronting on the newly-created Van Der Donck Park.

Transformative as the Larkin Plaza towers are, they are just one of several major residential projects underway in the Yonkers downtown.


RXR's Larkin Plaza already exceeds 10 stories of its planned 25 story height.

A few blocks away, directly on the waterfront, Mill Creek nears completion of its Modera  Hudson Riverfront project. It will consist of  324 studio, 1-, 2-and 3-bedroom luxury apartment homes, with an average home size of 950 square feet.  As with the RXR project, the Yonkers IDA played a key role in providing financial assistance in the form of tax incentives.

Working through the planning process is another major YIDA-assisted project, Avalon Bay's 609 unit project on a former industrial site on the riverfront Alexander Street.

Meanwhile a partnership of the Collins companies and China Construction is well underway with its 211 unit waterfront Hudson Park River Club, which is the third phase of the Collins waterfront Yonkers projects.

Together these projects represent the greatest concentration of new residential development the City has ever experienced, and puts Yonkers in the forefront of new development in the metropolitan suburban region.

Some of the factors in this burst of development are obvious, such as proximity to the waterfront and a train station. But there's more than location to the secret of the City's success. Two other essential ingredients are the YIDA's ability to provide tax incentives to jump start a project, plus the City's commitment to shepherding applications through the approval process.

By extending this two-pronged  welcome mat Yonkers is leading the region in attracting developers and seeing projects through to completion.







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