7-16-2021 3:43am

FOR IMMEDIATE RELEASE: Long Unused #Yonkers Property Near Downtown to Be Developed as 113 Affordable Rental Units

John Rivera Editor

Written by Brian Harrod

PRESS RELEASE: On Monday night the Board of Legislators unanimously approved a deal that will turn a lot in Yonkers where a long-vacant church building stands today into 113 units of affordable, rental housing for #Westchester families.

YONKERS: #WestchesterCounty to build on a nearly one-acre lot at 76 Locust Hill Avenue has been unused for years.

Under the deal, Westhab with demolish the old structure and erect a development with 44 one-bedroom apartments, 45 two-bedroom apartments, 19 studio apartments and 5 three-bedroom apartments. Apartments will be available to families earning 40, 50 or 60 percent of the area mean income.

The energy efficient building, with five stories of living space and a story and a half of parking below, will feature solar panels and electric vehicle charging stations, as well as ground floor retail.

Although the property has been appraised at more than $3.4 million, the county will pay $1.4 million to #Westhab to acquire the land, selling it back for $1, to support the construction. That's the same price Westhab paid for the property years ago.

Also helping subsidize development will be a range of state financing and tax credits, as well as federal housing money from the city of Yonkers. Under a deed restriction, the development will stay affordable for at least half a century.

The building will also provide a leg up to 45 formerly homeless households, providing not only affordable rental living space but also support services to help them build a better future.

For additional information please click the photo below for the Facebook hot link