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Homes and Community Renewal

Commissioner/CEO Towns Celebrates Opening of Schoolhouse Terrace in Yonkers

Commissioner/CEO Towns joined The Community Builders, Inc. (TCB), the City of Yonkers, and partners to celebrate the start of construction at Schoolhouse Terrace at Croton Heights. The 121-unit mixed-income housing development received $29.6 million from New York State Homes and Community Renewal as part of Governor Andrew Cuomo’s Regional Council initiative—the largest award in the Mid-Hudson Region. Schoolhouse Terrace at Croton Heights will transform the site of the blighted and long-abandoned Public School 6, which was demolished as part of this project.

Commissioner/CEO Towns said, “Governor Andrew Cuomo's Mid-Hudson Regional Economic Development Council is working with The Community Builders and local partners to replace a long-abandoned property with an attractive, high-quality development that will provide affordable homes and spur economic activity. This is an important revitalization project that will help Yonkers thrive. Congratulations to TCB, Mayor Spano, the Mid-Hudson Regional Economic Development Council, HUD, and all of our state and private partners on reaching this milestone today.”

Schoolhouse Terrace at Croton Heights will offer mixed-income apartments for seniors and families and has the potential to create more than 350 construction jobs and five permanent jobs with a total project cost of $62.9 million. The new buildings will sit atop two underground parking garages with 134 spaces to accommodate resident needs. An additional 2,400 square feet of community space are also included in the development. The development will meet both U.S. Green Building Council LEED® and NYSERDA Multifamily Performance Program standards.

Additional funding partners include the City of Yonkers, TCB, MHACY, RBC Capital Markets, M&T Bank, The Bank of New York Mellon, Federal Home Loan Bank of New York, New York State Energy Research Development Authority, New York State Department of Environmental Conservation, and the U.S. Department of Housing and Urban Development.

 

 

Last Updated: 09/17/13