YONKERS, N.Y. -- Yonkers real estate company R.J. Rose Realty that specializes in rejuvenating historic buildings has received a $500,000 grant to improve Yonkers Arts District.
The grant from the Empire State Development Grants Program will help revitalize Yonkers Carpet Mills Arts District (CMAD) and the region’s infrastructure.
The grant will help further the development and renovation of the historic facility to create a major regional arts and new technology destination, says a release.
R.J. Rose Realty purchased the historic “Worsted Building” at 179 Saw Mill River Road in September.
The grant will also help further the development and renovation of this building in Yonkers to become usable space for commercial lofts, companies or for a professional school.
The ten CMAD property owners in the Alexander Smith Carpet Mills, led by Randolph Rose, president of R.J. Rose Realty, worked with the City of Yonkers and numerous local arts organizations to create a strong funding application in July 2015, according to the release.
The group also applied for Priority Project Status, and as part of the Mid-Hudson Regional Economic Development’s application in the Upstate Revitalization Initiative.
The funding requested was to be used for exterior improvements to the buildings, including arts destination signage, lighting and entrance/landscaping improvements.
Funding was also requested for critical interior infrastructure and interior space improvements for artisan tenants.
The grant was announced by Gov. Andrew Cuomo’s office in December.
The funding will be matched by contributions made by the ten property owners as reimbursements for monies spent on the project.
This Arts District is comparable to where the Meat Packing District of Manhattan was in its development 30 years ago,” said George Huang, owner of YoHo Artist Studios. “We are extremely passionate with the vision to improve and transform the community for the future.”