Developers and local officials recently gathered to celebrate the beginning of construction of a new multifamily rental property at 70 Pier Street in Yonkers, as reported by YIMBY.

 

Led by Ginsburg Development Companies, the four-story building is located in the city’s Ludlow neighborhood and will eventually contain 36 rental apartments, ground-floor retail space, and parking garage for up to 35 vehicles.

 

Prior to demolition, 70 Pier Street was occupied by a low-rise office building and garage used by the Yonkers Parking Authority, which Ginsburg acquired in June 2017, according to YIMBY. As part of the project, the developer will also complete improvements at Abe Cohen Plaza, a public outdoor space located near 70 Pier Street. Updates to the plaza will include new paving, landscaping, benches, lighting, an entrance arch, a clock tower, a sculpture, and a flagpole.

 

Reacting to the beginning of construction of the complex, Martin Ginsburg, founder of Ginsburg Development Companies, said, “Seventy Pier Street and the revitalization of Abe Cohen Plaza are relatively small projects that will have a big impact as they create an exciting new gateway to the Ludlow neighborhood for those arriving at the Metro-North Station.” He added, “We will create a new sense of place with market-rate rental apartments, new neighborhood retail, and a beautiful new public space in Abe Cohen Plaza.”

 

Total construction costs for the building are estimated at $11.5 million. The developer has not disclosed when the construction is expected to be completed.