Governor Andrew Cuomo’s Regional Economic Development Council has made a substantial investment in the future of Yonkers – to the tune of more than $2.4 million in grant money.
The funding, announced last week, will support five projects. It does not include $490,000 in funding awarded last week directly to the City of Yonkers in support of two other grant applications – for the improvement of the downtown waterfront esplanade and the creation of an urban heritage waterfront sculpture.
“Combined with $1 billion of private investment in Yonkers, this funding proves that economic development, job creation and investment are back on track,” Mayor Mike Spano said.
The $2,444,168 doled out by the council will fund these projects:
SoYo Mixed-Use Development ($1,250,000) – SoYo Exalta, LLC will construct 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 and near the Yonkers Train Station. Plans call for 25-story and 17-story residential unit towers and 40,000 square feet of 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, which will become a working arts and technology hub.
Yonkers Rail Trail Phase One Capital Construction ($394,280) – Groundwork Hudson Valley will build Phase 1 of a 2-mile rail trail, stretching from the Downtown Yonkers Waterfront to the 242nd Street subway station in Riverdale. This segment will feature a new park and play area along the trail.
Greyston Bakery Capital Improvements ($200,000) – The bakery will upgrade equipment used in its Yonkers facility, including its environmental control and electrical systems.
Production Training ($99,888) – Greyston Foundation Inc. of Yonkers will train 75 workers.
“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,” State Assemblywoman Shelley Mayer said. “Clearly, the Council recognized the great work happening in Yonkers and awarded a significant public investment in our community.”
Added State Assemblyman Gary Pretlow: “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.”