Four Yonkers Projects Awarded $5 Million In Funding

YONKERS, N.Y. – Four Yonkers development projects have been awarded a combined $5 million in state funding.

A conceptual drawing of the proposed hotel and convention center at the Glenwood Power Station. The plan was one of five Yonkers projects to be awarded funding by the state Wednesday.
Photo Credit: *Ghiora Aharoni Design Studio*

by Matt Bultman

12/20/2012 5:00 p.m.

The plans, all related to the transformation of the city’s downtown and waterfront, were granted funding as part of the Mid-Hudson region’s being named among the top winners at Wednesday’s Regional Economic Development Council Award ceremony in Albany.

The Yonkers projects to be funded include:

Glenwood Power Plant Restoration and Redevelopment, $1 million: A $200 million plan to transform the Glenwood power plant into a cultural destination that includes a restaurant, two small hotels, an exhibition hall, several cafes and possibly a spa.
Yonkers Rising’s Adaptive Reuse Plan of Downtown Yonkers Properties, $2 million: Yonkers Rising Development’s Phase I redevelopment plan for the renovation and adaptive reuse of five targeted properties in downtown Yonkers into mixed-use space.
Saw Mill River Re-establishment and Daylighting, $921,425: Yonkers will unearth an additional segment of the Saw Mill River, transforming the Mill Street Courtyard into a second major public space in the downtown.
Kawasaki Rail Car Expansion, $1.15 million: Kawasaki Rail Car Inc. will expand its manufacturing operation, investing $16 million and creating 80 new jobs.

Mayor Mike Spano, who earlier this year urged the regional council to pursue state funds for the projects, said economic development is a priority in Yonkers.

“The Yonkers waterfront is our strongest and most valuable asset and these mixed-use projects invest in the waterfront and downtown areas in ways that will bring in a vibrant economic base that is needed for our City and residents,” he said in a statement.

“Collectively, these projects will bring a cohesive effect to existing redevelopment, linking the waterfront, the existing daylighting and downtown area.”

The $5 million awarded in funding to Yonkers projects comes after the Mid-Hudson Regional Economic Development Council was named as one of the top five “Best Plan Awardees” Wednesday night.

In total, $92.8 million was awarded to the region for 84 projects, including $23 million in Westchester.

"It is great to see that Gov. Cuomo, the legislators and the Regional Council are willing to invest in the adaptive reuse of historic Yonkers buildings that will create jobs, house people and provide excitement in and around our downtown and the Hudson River,” said City Council President Chuck Lesnick, who was in Albany for the awards ceremony.

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