51-Unit Project Part of Major State and City Priority to Revitalize Southwest Yonkers
New York State
Governor Andrew M. Cuomo today announced the start of construction of 188 Warburton Apartments, a $27 million affordable housing development in Yonkers. A high priority of the City of Yonkers, the development will replace two distressed buildings with 51 state-of-the-art, energy efficient units of workforce housing.
“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,” Governor Cuomo said. “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.”
“A little over a year ago, we marked the start of construction on Schoolhouse Terrace, a part of the redevelopment of Southwest Yonkers,” said Darryl C. Towns, Commissioner/CEO of New York State Homes and Community Renewal. “Now with 188 Warburton Apartments following closely, the modernization of this community is well underway under Governor Cuomo’s leadership. In place of deterioration we are building determination – the determination that New Yorkers across the state deserve a fair and safe home.”
188 Warburton Apartments is a $27 million, 62,000-square foot, LEED-certified development which will include one-, two- and three-bedroom apartments and 79 parking spaces. Other amenities include a multi-purpose community room, in-unit dishwashers, an outdoor children’s recreational area, and on-site laundry.
This project is part of a multi-phase initiative aimed at revitalized the Cottage Place Gardens public housing complex in Yonkers and creating a new integrated community. The 188 Warburton Apartments is being developed by The Community Builders, Inc., one of the nation’s leading nonprofit real estate developers and owners, and the Municipal Housing Authority for the City of Yonkers.
The financing for 188 Warburton Apartments includes federal, state and local resources:
- $13.4 million in tax exempt bonds;
- $1.2 million in subsidy funds;
- $976,000 in an estimated annual allocation of 4% Federal Low Income Housing Tax Credits;
- $2 million in a Homes for Working Families loan through New York State Homes and Community Renewal;
- $750,000 estimated loan from the Municipal Housing Authority of the City of Yonkers;
- $550,000 estimated City of Yonkers HOME Subordinate Mortgage Subsidy Loan;
- $1.74 million estimated Neighborhood Stabilization Program Subordinate Mortgage Subsidy Loan
- $4.2 million estimated sponsor loan funded from the State of New York Department of Environmental Conservation Brownfield Cleanup Tax Credits program; and
- $61,200 funded from the New York State Energy Research and Development Authority to partially offset the cost of energy-efficiency measures.
In 2013, as part of the revitalization, The Community Developers broke ground on Schoolhouse Terrace, a $63 million development. Built on the former site of Public School 6 which was in serious disrepair, once complete, Schoolhouse Terrace will have 120 affordable units for seniors and families as well as a total of 2,400 square feet of community space. The project will meet both U.S. Green Building Council LEED® and NYSERDA Multifamily Performance Program standards.
The mixed-income project was a priority for the Governor’s Mid-Hudson Regional Economic Development Council and received $29.6 million, the largest Mid-Hudson Region award, as part of Round I of the competitive statewide awards process. The project is expected to be completed by mid-2015.
A rendering of the Warburton Apartments project can be viewed here, and a rendering of the Schoolhouse Terrace project can be viewed here.
Holly Leicht, HUD Regional Administrator for New York and New Jersey, said, “HUD launched Choice Neighborhoods in recognition that it isn’t enough just to replace public housing with new housing; we have to transform distressed neighborhoods into inclusive communities that connect residents to opportunity. Warburton Avenue is the spine of a comprehensive Choice Neighborhoods vision for revitalizing the Croton Heights neighborhood, and we are proud to join with our State and local partners to fund the first project in this phase of the plan with a $3 million federal investment.”
John B. Rhodes, President and CEO, NYSERDA said, “This green affordable housing complex will be among the most energy efficient buildings in the State, including technologies and design components that will reduce energy use and provide a more comfortable environment for residents. Energy efficiency in buildings is a critical component to Governor Cuomo’s energy vision for a resilient, reliable, affordable and clean energy infrastructure in the State. Congratulations to all involved.”
Representative Eliot Engel said, “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. 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.”
State Senator Andrea Stewart-Cousins, the Senate Democratic Conference Leader, said, “As someone who grew up in public housing, I have a true appreciation for affordable housing projects like this that will make a real difference in so many lives by providing a clean, safe, and secure home. I am happy to support state financing options that turn affordable housing plans into reality, and I commend Governor Cuomo for his commitment to projects like this.”
Yonkers Mayor Mike Spano said: “Today’s groundbreaking points to the positive momentum occurring right now in Yonkers as we revitalize our neighborhoods and improve the lives of the residents who live here. We are building a stronger, a more sustainable community for residents, thanks to the support of our federal, state, private and our local community partners for their commitment to Yonkers and look forward to the great improvements that will be made to this very deserving neighborhood.”
Joe Shuldiner, Executive Director for the Municipal Housing Authority for the City of Yonkers, said, “The authority is pleased to be able to be working with the City of Yonkers, and our State, Federal and private partners to continue the effort to redevelop the Ashburton Corridor. With this project, we have 227 new units of housing and $ 100 million in construction.”
Yonkers City Council Member Christopher Johnson said, “This groundbreaking represents the collaborative efforts of the public and private sectors and is an especially impressive partnership which will benefit the residents of the district I proudly represent. I commend the efforts of all who have contributed in the redevelopment of this community that will strengthen the fabric of the neighborhood and I applaud all who were instrumental in making this project possible. I am honored to be a part of the solution to the shortage of affordable housing units and local hiring opportunities in the district and the city at large. I hope that as we work to change the face of our great city we will continue to work collectively with community partners to meet community needs. ”
Bart Mitchell, president and CEO of The Community Builders, Inc., said, “We are proud to deepen our commitment to the city of Yonkers with the transformation of 188 Warburton into modern, energy efficient, workforce housing. “We commend Governor Cuomo, Mayor Spano, and the other public officials who have provided such strong and continuing support of this redevelopment effort for the benefit of the residents of Yonkers.”
About New York State Homes and Community Renewal
New York State Homes and Community Renewal consists of all of the State’s major housing and community renewal agencies, including the Affordable Housing Corporation, the Division of Housing and Community Renewal, the Housing Finance Agency, State of New York Mortgage Agency, Housing Trust Fund Corporation and others. Homes and Community Renewal is in the second year of the $1 billion House New York program, which creates thousands of new units over five years, and is the largest investment in affordable housing in at least 15 years. House New York will also preserve thousands of Mitchell-Lama units, extending affordability for 40 years. The House New York initiative builds on the successes of unprecedented efforts to protect more than two million rent-regulated tenants, with the greatest strengthening of the State’s rent laws in 30 years, and the creation of the Tenant Protection Unit which proactively audits and investigates landlord wrongdoing.
About The Community Builders, Inc.
The Community Builders, Inc. (TCB) is one of America’s leading nonprofit real estate developers and owners. Their mission is to build and sustain strong communities where people of all incomes can achieve their full potential. They realize their mission by developing, financing and operating high-quality housing and implementing neighborhood self-help initiatives to drive economic opportunity for their residents.
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