Developers Break Ground In New $60 Million Affordable Yonkers Housing Development
Construction has commenced on a new development valued at $60 million, featuring numerous affordable apartments and commercial spaces, situated near a Metro-North train station in Westchester County.
The forthcoming project, named The St. Clair, will be located in downtown Yonkers and is slated to encompass 76 affordable apartments upon its completion, as announced by New York Governor Kathy Hochul on September 27th.
These units will be designated for households with incomes at or below 80 percent of the Area Median Income, according to Hochul’s office.
While the precise address of the upcoming development has not been disclosed, The St. Clair forms part of Hochul’s comprehensive $25 billion Housing Plan, which aims to create 100,000 affordable homes across the state. This initiative encompasses 10,000 residences with support services for vulnerable populations and the electrification of an additional 50,000 homes.
Developed by MacQuesten Development, LLC, the building will be conveniently located within walking distance of the Yonkers Metro-North train station and a stop on the Westchester County Bee-Line Bus System. It will also adhere to environmental standards established by the New York State Energy Research and Development Authority’s Clean Energy Initiative.
To meet these standards, the building will be all-electric and incorporate energy-efficient features such as all-electric appliances, heat pumps for heating and cooling, weatherization to minimize heat loss, and low-flow plumbing fixtures.
In addition to the 76 apartment units, the building will also offer space for commercial enterprises, a fitness room, community room, and an outdoor rooftop deck.
State funding for this $60 million development includes:
- $8.4 million in permanent tax-exempt bonds.
- $25.2 million in federal and state low-income housing tax credits.
- $10.6 million in subsidies from New York State Homes and Community Renewal.
Governor Hochul commented on The St. Clair development, stating, “The St. Clair is proof that we can work hand-in-hand with our local partners to create housing that is affordable, sustainable, and that connects New Yorkers to jobs, to schools, to doctors, and to the services they need to thrive. Our ongoing investment in Yonkers’ resurgence is allowing more people to take advantage of all this city has to offer, and it underscores our commitment to transit-oriented, strategic housing growth that strengthens communities and helps combat climate change.”
Construction has commenced on a new development valued at $60 million, featuring numerous affordable apartments and commercial spaces, situated near a Metro-North train station in Westchester County.
The forthcoming project, named The St. Clair, will be located in downtown Yonkers and is slated to encompass 76 affordable apartments upon its completion, as announced by New York Governor Kathy Hochul on September 27th.
These units will be designated for households with incomes at or below 80 percent of the Area Median Income, according to Hochul’s office.
While the precise address of the upcoming development has not been disclosed, The St. Clair forms part of Hochul’s comprehensive $25 billion Housing Plan, which aims to create 100,000 affordable homes across the state. This initiative encompasses 10,000 residences with support services for vulnerable populations and the electrification of an additional 50,000 homes.
Developed by MacQuesten Development, LLC, the building will be conveniently located within walking distance of the Yonkers Metro-North train station and a stop on the Westchester County Bee-Line Bus System. It will also adhere to environmental standards established by the New York State Energy Research and Development Authority’s Clean Energy Initiative.
To meet these standards, the building will be all-electric and incorporate energy-efficient features such as all-electric appliances, heat pumps for heating and cooling, weatherization to minimize heat loss, and low-flow plumbing fixtures.
In addition to the 76 apartment units, the building will also offer space for commercial enterprises, a fitness room, community room, and an outdoor rooftop deck.
State funding for this $60 million development includes:
- $8.4 million in permanent tax-exempt bonds.
- $25.2 million in federal and state low-income housing tax credits.
- $10.6 million in subsidies from New York State Homes and Community Renewal.
Governor Hochul commented on The St. Clair development, stating, “The St. Clair is proof that we can work hand-in-hand with our local partners to create housing that is affordable, sustainable, and that connects New Yorkers to jobs, to schools, to doctors, and to the services they need to thrive. Our ongoing investment in Yonkers’ resurgence is allowing more people to take advantage of all this city has to offer, and it underscores our commitment to transit-oriented, strategic housing growth that strengthens communities and helps combat climate change.”
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