Construction Begins on 282-Unit The Ibex at Ridge Hill in Yonkers

Construction is officially underway on The Ibex at Ridge Hill, a $140 million mixed-use residential development that will bring 282 new rental apartments to Yonkers.

The 17-story building is being developed by a joint venture of Saber-Hightower, Rafferty Real Estate and Eagle Realty Group and will be located adjacent to Whole Foods Market along Ridge Hill’s Main Street.

The project will include 282 apartments, including 28 affordable units, along with approximately 5,000 square feet of ground-floor retail space. Plans also call for 423 resident parking spaces within Ridge Hill’s existing parking garage.

Designed by Beyer Blinder Belle, The Ibex will include approximately 20,000 square feet of resident amenities, including a fitness center, coworking space, courtyard swimming pool and lounge, dog park and a 17th-floor sky lounge.

The start of construction marks a significant milestone for a project that received site plan approval from the Yonkers Planning Board earlier this year. The project is located at 22 Lembo Drive, also known as Parcel K at Ridge Hill.

The development adds a substantial residential component to the existing Ridge Hill retail and entertainment destination and represents another significant addition to Yonkers’ housing inventory. By placing new housing within an established mixed-use center, the project will give residents immediate access to shopping, dining and entertainment options.

The City of Yonkers, Yonkers City Council and Yonkers Industrial Development Agency supported the project.

Construction financing is being provided by Bank OZK. The development team expects the first apartments at The Ibex to become available in late 2028.