The 51 state-of-the-art, energy-efficient units will replace the two distressed buildings currently at the location.
“Increasing affordable housing options in New York is a top priority of our administration, and this project will provide more Yonkers residents with a place to live while helping revitalize the surrounding neighborhood,” Gov. Andrew Cuomo said in a statement. “Helping vulnerable New Yorkers find safe, affordable places to call home is critical for community success and economic growth, and I am proud this project is continuing to move forward.”
The 62,000-square foot, LEED-certified development will include one-, two- and three-bedroom apartments and 79 parking spaces. Other amenities include a multipurpose community room, in-unit dishwashers, an outdoor children’s recreational area and on-site laundry.
The new development will be funded in large part through tax-exempt bonds ($13.4 million), an estimated sponsor loan funded from the state Department of Environmental Conservation Brownfield Cleanup Tax Credits program ($4.2 million), a Homes for Working Families loan through New York State Homes and Community Renewal ($2 million) and a Neighborhood Stabilization Program Subordinate Mortgage Subsidy Loan ($1.75 million).
"The Warburton Apartments are a welcome addition to the community. As Yonkers' congressman, I believe these types of developments will help our city continue to grow and thrive," Rep. Eliot Engel said in a statement. "Access to safe, affordable housing is a fundamental need. I am pleased that local, state and federal resources will be used to fix and repair our existing public housing facilities, which would enable working families to secure a home, improve our neighborhoods and the quality of life for people who live there."
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