A new low-income housing development dedicated to seniors is coming to 345 McLean Avenue. The tower will be home to 105 units and numerous amenities.
Among the floor plans in the 12 story building will be studio, one, and two bedroom apartments. For the 105 units of housing, there will only be 53 parking spaces. The reduced number of parking spaces is likely attributed to residents being aged over 62 years and at-or-below 60% of the Area Median Income (AMI) in Westchester County. The residents of this new development will also have access to a library, laundry room, and recreational space.
The developer, Verus Development of Pleasantville, is a subsidiary of Trinity Associates, LLC. And it has sought numerous variances from the Yonkers Zoning Board of Appeals. From the aforementioned parking space capacity to the amount (or lack thereof) of setback from the street(s). Verus Development is also scheduled to receive 56.8 million dollars in benefits from the Yonkers Industrial Development Agency (YIDA) for this housing project. This primarily consists of a 30-year tax abatement. The YIDA’s purpose is to provide tax breaks, reduced-price land sales, and other incentives like this to spur both residential and commercial developments in the area. The investment in this project was approved during the YIDA meeting on March 6th.
“With a private investment of nearly $57 million, this development is an example of how the Yonkers IDA is working to help create new housing and jobs for our city’s economy.”Mike Spano – Mayor of Yonkers
There are still more reviews and approvals coming down the pike. However, this new residential development isn’t likely to see much pushback from any agency. Similar developments in the area are a harbinger of this project’s assumed green light.