Extell Development Co. breaks ground for $585 million Hudson Piers multi-phase project in Yonkers

Yonkers, NY Executives from Extell Development Co. joined mayor Mike Spano and other city, county and state officials for a groundbreaking ceremony for Hudson Piers, signifying the official start of construction. When completed, the $585 million, multi-phase complex will include 1,400 luxury and affordable apartments, retail, and a new riverfront esplanade along a waterfront location with views of the Hudson River across to the Palisades.

Hudson Piers is the city’s final waterfront development and will complete the transformation of an expansive former industrial site into a desirable, amenitized, residential enclave. The project, designed by architectural firm Perkins Eastman, will be developed in three phases over a 6-year period, is expected to create 200 permanent jobs and 450-500 construction jobs.

Extell worked with the city and the Yonkers IDA to provide the Hudson Piers project with a 20-year PILOT and a 100% abatement on taxes for improvements. It is the largest residential project to receive financial incentives from the Yonkers IDA.

The 17.4-acre property sits as an unused piece of the Hudson riverfront along Alexander St., Water Grant St. and Babcock Pl. Hudson Piers will activate the surrounding area by adding additional greenspaces, ease of access, and a riverfront promenade providing a connection to the surrounding neighborhoods.

The development consists of 870,000 rentable s/f of residential space across six, seven-story buildings, with over 37,000 rentable s/f of ground floor retail space. Hudson Piers will offer a mix of studio- to-three-bedroom residences. Interiors will feature fully tiled bathrooms, in-unit washer/dryers, premium stainless-steel appliances, Kohler fixtures, separate zones for heating and cooling, and private terraces.

Outdoor amenities include waterfront recreation terraces with hammocks, fire pits, grilling stations, sundecks, billiards, putting greens, bocce courts, an outdoor swimming pool, and retail. Indoor amenities will include fitness centers, lounges, playrooms, a catering kitchen, basketball gym, screening room, game room, teen rooms, business and conference center and a 24-hour attended lobby. A total of 1,028 covered parking spaces will be provided on the first two floors of the buildings, with an additional 212 on-grade spaces, for a total of 1,240 parking spaces. Each of the buildings will have their own package, storage and bicycle rooms. As an additional convenience, shuttle services will be provided for residents to and from the Yonkers Metro-North train station.

As part of the Hudson Piers project, 1.5 acres of new public parkland will be created as well as a 1.5-mile-long esplanade extension that will adjoin to the existing public waterfront promenade seamlessly integrating the property into the greater Yonkers community. Upon completion, the esplanade will take residents and visitors on a short walk along the river to the train station and further to downtown Yonkers. The project plans also call for the construction of a new elevated roadway to be named Riverside Drive, which will be deeded back to the city.

“Extell’s Hudson Piers will be one of the most transformative developments along the Yonkers waterfront,” said Spano. “It will cap off the extraordinary momentum seen in recent years that’s spurred unprecedented investment in our city. I look forward to welcoming more families, businesses and jobs to Yonkers on the River and fulfilling our truest potential.”

“We are proud to be a part of the incredible redevelopment which has turned Yonkers into the fastest growing big city in New York State under Mayor Mike Spano,” said Gary Barnett, founder & chairman of Extell. “Hudson Piers will introduce a significant supply of new luxury and affordable housing to Yonkers and will bring the Extell quality of construction complemented by an unmatched array of lifestyle amenities to the City’s waterfront.”

Hudson Piers is conveniently located near the Yonkers Metro-North station, which provides a direct 28-minute ride to Grand Central Terminal on the Hudson Line. Additionally, five major highways easily connect the site with the rest of Westchester County, Fairfield County, and New York City.

Hudson Piers builds on the remarkable renaissance under way in Yonkers under the administration of Mayor Spano which has seen more than $4 billion in private investment in new projects with over 9,100 multifamily units planned, completed, under construction and approved for development.