Yonkers Wins $3 Million as Part of Governor Cuomo's Economic Development Competition
YONKERS, NY – December 11, 2015 – Yonkers Mayor Mike Spano today announced that projects in the City of Yonkers have been awarded nearly $3 million in economic and community development funding as part of Round V of Governor Andrew Cuomo’s Regional Economic Development Council Initiative and the Upstate Revitalization Initiative.
“Combined with $1 billion of private investment in Yonkers, this funding proves that economic development, job creation and investment are back on track,” said Mayor Mike Spano. “I’d like to thank Governor Andrew Cuomo and our State Delegation for these latest awards and their continued support as we work to further grow our city, improve our economy and position Yonkers as the best city in which to live, work and play.”
About the Projects
SoYo Mixed-Use Development, $1,250,000 – SoYo Exalta, LLC will undertake the construction of a mixed-use transit-oriented development at Larkin Plaza, nearly a full square block in the center of downtown Yonkers adjacent to Van der Donck Park, which features the daylighted Saw Mill River, and near the Yonkers Train Station. Plans call for the construction of 25-story and 17-story residential unit towers and 40,000 square-feet of ground-level retail and restaurant space.
Yonkers Carpet Mills Arts District Revitalization Project, $500,000 – R.J. Rose Realty, LLC will make critical improvements to the former Alexander Smith Carpet Mills site to transform the aging facility into a working arts and new technology hub.
Yonkers Downtown Riverwalk Expansion, $400,000 – The City of Yonkers will expand and enhance the downtown waterfront esplanade.
Yonkers Rail Trail Phase One Capital Construction, $394,280 – Groundwork Hudson Valley will use funding to construct phase one of a 2-mile rail-trail that stretches from the Downtown Yonkers Waterfront to the 242nd Street subway station in Riverdale. This segment includes a major new park and play area along the trail, which was a primary request from local residents during the planning phase.
Greyston Bakery Capital Improvements, $200,000 – Greyston Bakery will invest in equipment upgrades utilized within its Yonkers Facility; upgrades will include environmental control and electrical system upgrades.
Yonkers Arts and Culture Project, $90,000 – The City of Yonkers, ArtsWestchester and the Yonkers Board of Education will work with local artist Vinnie Bagwell to develop an urban-heritage public sculpture.
Production Training, $99,888 – Greyston Foundation Inc. of Yonkers will train 75 workers.
“I’m pleased that key projects I support in Yonkers will be getting the resources they requested in this highly-competitive process,” said Senator Stewart-Cousins, the Senate Democratic Conference Leader. “The state's Regional Economic Development Councils have provided significant investments through state grants, aimed at creating economic opportunities and jobs in our communities, supporting businesses, housing, and other projects. That's why I continue to support and vote for this important funding resource provided by New York State."
Assemblywoman Shelley Mayer said, “I am extremely pleased that Yonkers projects were so successful in the grants awarded by the New York State Regional Economic Development Council/ Upstate Revitalization Initiative competition. Clearly, the Council recognized the great work happening in Yonkers and awarded a significant public investment in our community. Thank you to Governor Cuomo and the staff and members of the Mid-Hudson Regional Economic Development Council for their hard work and commitment to these projects that will generate jobs, increased revenue and continued growth for our region.”
Assemblyman Gary Pretlow said, “These projects will mean good-paying construction and permanent jobs in Yonkers. I join Mayor Spano and my colleagues in the State Legislature in thanking the Regional Council for their continued support of job creation and economic development in Yonkers.”