Kearney Realty & Development Group Proposes $41 Million Affordable Apartment Project in Yonkers

Kearney Realty & Development Group presented a $41 million affordable apartment project for 21-23 Park Ave. to the Yonkers Planning Board for consideration.

Ethan Flagg House-Blessed Sacrament Monastery, 23 Park Ave. Yonkers
Ethan Flagg House-Blessed Sacrament Monastery – credit: Victor M – Wikimedia Commons

The project, called The Abbey, involves the construction of a new building as well as the rehabilitation of the former Blessed Sacrament Monastery and Ethan Flagg House. Both buildings are listed in the National Register of Historic Places. The Flagg House, built in the mid-1850s, and the monastery, constructed in 1922, in addition to a 1954 infirmary wing which connects the structures.


All of the proposed 85 residential units will be rented at affordable rates between 60-80% of the Area Medium Income for Westchester County. The buildings offer a mix of studio, one-bedroom, and two-bedroom apartments. Between 20-50% of the units would be available with preferential consideration to artistic or literary rental applicants. This development could mark Kearney’s 21st affordable and mixed-income housing development. They currently manage over 1,600 similar units.

Architecture, Sustainability, and Parking

Kearney says that the wood frame construction and brick facade was “designed to coincide not only with the architectural and historical beauty of the rehab buildings, but also with the surrounding neighborhood.” The three structures in the project are also designed to be all-electric, ahead of New York State’s proposed mandate.

The now-default variances for a reduction in parking have been granted by by the Yonkers Zoning Board of Appeals. The proposed plan provides a total of 24 parking spaces on the site. Additional spaces leased at the Yonkers Parking Authority’s neighboring Parkdrome Garage. This supplemental garage stands almost 300 feet away and around the corner from the development.

The submitted proposal to the Yonkers Planning Board estimates the project at 41 million dollars. Kearney purchased the property from 23 Park Avenue Limited Partnership for a total of $4 million.

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