Yonkers IDA Supports Second Phase of 21 Scarsdale Road Development
The Yonkers Industrial Development Agency has approved financial incentives for the second phase of a residential development at 21 Scarsdale Road, advancing plans to add 50 new rental apartments near the Tuckahoe Metro-North station.
The approximately $24.9 million project calls for construction of a six-story residential building featuring 10 studios, 15 one-bedroom apartments and 25 two-bedroom apartments, along with parking. An existing accessory building on the property would also be rehabilitated to provide amenities for residents.
The project is expected to create approximately 53 construction jobs.
The Yonkers IDA is providing assistance that includes a partial property tax abatement, sales and use tax exemptions related to the project and a mortgage recording tax exemption.
Located near the Yonkers-Tuckahoe border and within walking distance of the Tuckahoe Metro-North station, the development adds to ongoing residential investment in the area and represents another example of transit-oriented housing growth in Westchester County.
