$585 Million Project, 1,400 Waterfront Apartments
Ken Jenkins; Yonkers Mayor Mike Spano; Extell Development Company Founder and Chairman Gary Barnett; Yonkers IDA Executive Director Jaime McGill, and Extell Development Company Vice President of Development Moshe Botnick
By Dan Murphy
In what will be one of the largest mixed-use communities in the Westchester Area, executives from Extell Development Company joined Yonkers Mayor Mike Spano and other city, county and state officials on May 5 for a groundbreaking ceremony for Hudson Piers, signifying the official start of construction. When completed, the $585 million, multi-phase complex will include approximately 1,400 luxury and affordable apartments, exciting retail, and a new riverfront esplanade along a prime waterfront location with beautiful views of the Hudson River across to the Palisades.
“Extell’s Hudson Piers will be one of the most transformative developments along the Yonkers waterfront,” said Yonkers Mayor Mike Spano. “It will cap off the extraordinary momentum seen in recent years that’s spurred unprecedented investment in our city. I look forward to welcoming more families, businesses and jobs to Yonkers on the River and fulfilling our truest potential
“We are proud to be a part of the incredible redevelopment which has turned Yonkers into the fastest growing big city in New York State under Mayor Mike Spano,” said Gary Barnett, Founder & Chairman of Extell Development Company. “Hudson Piers will introduce a significant supply of new luxury and affordable housing to Yonkers and will bring the Extell quality of construction complemented by an unmatched array of lifestyle amenities to the City’s waterfront.”
Hudson Piers is the city’s final waterfront development and will complete the transformation of an expansive former industrial site into a highly desirable, heavily-amenitized, residential enclave. The project, which will be developed in three phases over a 6-year period, is expected to create 200 permanent jobs and 450-500 construction jobs.
The 17.4-acre property sits as an unused piece of the Yonkers Hudson riverfront along Alexander Street, Water Grant Street and Babcock Place. Hudson Piers will activate the surrounding area by adding additional greenspaces, ease of access, and a riverfront promenade providing a connection to the surrounding neighborhoods.
The development consists of approximately 870,000 rentable square feet of residential space across six, seven-story buildings, with over 37,000 rentable square feet of ground floor retail space. Hudson Piers will offer a mix of studio- to-three-bedroom residences. Interiors will feature fully tiled bathrooms, in-unit washer/dryers, premium stainless-steel appliances, Kohler fixtures, separate zones for heating and cooling, and private terraces.
In true Extell style, an array of both indoor and outdoor amenities will complement the property. Outdoor amenities include spacious waterfront recreation terraces with hammocks, fire pits, grilling stations, sundecks, billiards, putting greens, bocce courts, an outdoor swimming pool, and fresh retail. Indoor amenities will include multiple fitness centers, lounges, playrooms, a catering kitchen, basketball gym, screening room, game room, teen rooms, business and conference center and a 24-hour attended lobby. A total of 1,028 covered parking spaces will be provided on the first two floors of the buildings, with an additional 212 on-grade spaces, for a total of 1,240 parking spaces. Each of the buildings will have their own package, storage and bicycle rooms. As an additional convenience, shuttle services will be provided for residents to and from the Yonkers Metro-North train station.
As part of the Hudson Piers project, 1.5 acres of new public parkland will be created as well as a 1.5-mile-long esplanade extension that will adjoin to the existing public waterfront promenade seamlessly integrating the property into the greater Yonkers community. Upon completion, the esplanade will take residents and visitors on a short walk along the river to the train station and further to downtown Yonkers. The project plans also call for the construction of a new elevated roadway to be named Riverside Drive, which will be deeded back to the city.
Hudson Piers is conveniently located near the Yonkers Metro-North station, which provides a direct 28-minute ride to Grand Central Terminal on the Hudson Line. Additionally, five major highways easily connect the site with the rest of Westchester County, Fairfield County, and New York City.
Designed by renowned architectural firm Perkins Eastman, Hudson Piers builds on the remarkable renaissance under way in Yonkers under the administration of Mayor Spano which has seen more than $4 billion in private investment in new projects with over 9,100 multifamily units planned, completed, under construction and approved for development.
Extell worked closely with the City of Yonkers and the Yonkers Industrial Development Agency to provide the Hudson Piers project with a 20-year PILOT and a 100% abatement on taxes for improvements. It is the largest residential project to receive financial incentives from the Yonkers IDA.
About Extell Development Company
Extell Development Company’s current projects include Central Park Tower, the tallest residential tower in the world located on Billionaire’s Row; the largest condominium in Lower Manhattan, One Manhattan Square located on the edge of the New York Harbor; Brooklyn Point, a skyline defining tower in Downtown Brooklyn; The Kent at 200 East 95th Street, an Art Deco inspired building; 1010 Park, a bespoke collection of 11 full-floor and duplex luxury condominiums; and 70 Charlton, the first luxury residential development in Hudson Square, an enclave within West SoHo. Extell has also restored and updated a number of classics in landmark neighborhoods, including the former Stanhope Hotel at 995 Fifth Avenue and The Belnord, a landmark building on the Upper West Side. For more information about Extell, please visit the company’s website at www.extell.com
