Page 40 - Westchester County Economic Development Guide 2013
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workers and created 1,300 construction
jobs, rendering Yonkers the city with the
lowest unemployment rate in New York.
In 2010, work on the $50 million IPark
MetroCenter was completed, providing
180,000 square feet of office and retail
space and up to 100 residential units
with a direct connection to the Yonkers
train station.
In June 2012, the IDA approved four
major projects totaling $221 million,
ranging from residential to commercial
development. Collins Yonkers, LLC is
constructing a $60 million housing
development on Yonkers’ beautiful
waterfront, and the IDA has pledged
to aid the development of the 22-story,
200-unit apartment complex with tax
exemptions and abatements. The IDA
also approved a $107.5 million project
that would bring 330 units of housing to
Warburton Avenue on a 4.6-acre parcel to
be developed by River Club, LLC.
Capitalizing on one of the greatest
natural resources in the country – the
mighty Hudson River – Yonkers has seen
the transformation of defunct waterfront
buildings into active businesses, such
as reviving an old trolley barn as an
affordable apartment complex and fitness
center. Additionally, a once-dilapidated
pier now serves as a New York Water
Taxi embankment for people commuting
to Wall Street. These innovations help
to attract young professionals searching
for affordable living in an area easily
accessible to New York City.
The IDA is also working to revive
manufacturing in Yonkers. The IDA has
approved assistance for Instock Cabinets,
Inc., with the former Stewart Stamping
factory on Central Park Avenue being
converted into a showroom and assembly
facility.
Yonkers’ health needs are served by
two outstanding hospitals: St. John’s
Riverside Hospital and St. Joseph’s
Medical Center, both of which have
long-established reputations for
technological excellence and advanced
treatment. Environmentally conscious
initiatives are also attracting attention:
In 2009, St. John’s Riverside received the
Greater New York Hospital Association
Award for “Greening” and won the
Environmental Excellence Award from
Practice Greenhealth, an organization
comprised of healthcare institutions
dedicated to sustainable, eco-friendly
practices.
Major Yonkers attractions include the
Hudson River Museum, Yonkers Raceway
and many large shopping areas.
New
Rochelle
Nestled along a 9.3-mile stretch of
Long Island Sound, New Rochelle offers
a vivacious downtown business district,
as well as beautiful shoreline views. With
a bustling population of approximately
70,000, the city boasts a large and educated
workforce, while the National Blue Ribbon
award-winning public school system
promises a bright future in a city long
known as one of the best places in the
nation to raise children.
In 2013, New Rochelle is celebrating
its 325th anniversary, and the year-long
festivities happen to coincide with two
major projects:
• The Echo Bay Waterfront
Redevelopment is making a one-mile
stretch of shoreline habitable again,
giving residents access to the Long
Island Sound. Once completed, the
development will offer more than 600
luxury apartments, 100 town homes
and condominiums, and two 150-room
hotels, as well as a 20,000-square-foot
community center and 150,000 square
feet of retail property.
• Heritage Homes, formerly known as
Hartley House, which functioned as
public housing for New Rochelle,
began remodeling in 2011 and is
expected to be completed by the end
of 2018. The effort is doing away with
the five six-story towers and replacing
them with more “neighborhood”-style
living arrangements. The project will
create 228 living units, including
three-story town homes, a four-story
apartment building and 15 two-family
homes.
The business community of New
New Rochelle
TRIVIA:
• Elisha Otis opened the world’s first elevator factory on the banks of
the Hudson River in 1853.
• Saint Andrew’s Golf Club – the nation’s oldest golf club and a USGA
founding member – was opened 125 years ago in Yonkers by John
Reid, “the founder of American golf.”
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