We are almost there...
Yonkers residents will get an additional 2 1/2 weeks to comment on the Struever Fidelco Cappelli $1.6 billion redevelopment plan of Downtown Yonkers. This plan entails the development of over 500 acres of the city. The goal is to reposition Yonkers as a regional destination, employment center and vibrant urban environment. AMAZING!
Mayor Phil Amicone doesn't seem to be too happy with the delay by the City Council. The mayor had called for the City Council to move on the project "as quickly as possible". I agree... City Council President Chuck Fresnic hopes the delay will give American Sugar Rifining the time it needs to complete its study. American Sugar Refining operates the Domino sugar plant on the Hudson River in Southwest Yonkers. The problem is that this plant is stones throw away from the proposed two 25 story SFC developed towers. The plant processes 4 million pounds of sugar which the new residents won't be too happy about! This could put their business in jeopardy.
Good luck Yonkers!!
As usual comments and suggestions are always welcomed...
MICHAEL A. BROWN - REALTOR® WESTCHESTER COUNTY, BROOKLYN & THE BRONX
The proposed Struever Fidelco Cappelli redevelopment of Yonkers' downtown/waterfrontdistrict has caused sellers of commercial property in that zone to be a bit unrealistic in there pricing. Peter G. Klein, vice president of Fidelco Realty Group, said the developers have the property deals in place for the first phase of the $1.56 billion project but are assessing other sites for future development.
Will Yonkers stubborn landowners prevent future development in the area? One land owner was quoted to have asked for $2 million for .75 acres of land on Warburton Ave that lacked water views. CRAZY! Klein was also quoted he was unwilling to pay a premium today for property he would develop later. Could Yonkers end up looking like this in 5 years after all the developers have run out of money?
In order for Downtown/Waterfront Yonkers to flourish the surrounding neighborhoods will need to improve. Many of the pioneers like Peter Kelly's X2O on the waterfront will be forced to close if the neighborhood does not improve and/or continue to redevelop.
Comments and suggestion are always welcomed...
MICHAEL A. BROWN - REALTOR® WESTCHESTER COUNTY AND THE BRONX
As if the budget deficit isn't enough, Westchester County is asking Yonkers residents to fork over an additional 23.6% in tax dollars. The increase can be attributed to the Westchester 2008 Budget and a spike in property values. Westchester County is a pretty complex county when it comes to calculating home values. Since each municipality has its own unique way of calculating values, the county has implemented a unique formula, a.k.a. the state equalization rate. Maybe I am a bit naive, but Yonkers has one of the lowest Median Household Incomes (As of 1999, and I understand its a city), how could this be?...
Yonkers, Peekskill, and White Plains round out the top 3 in tax increases for Westchester County.
Comments and Suggestions are always welcomed...
MICHAEL A. BROWN - REALTOR® WESTCHESTER COUNTY & THE BRONX
The Yonkers Budget is due the middle of next month and its not looking too good. New York State is facing a $5 billion budget deficit, America is singing recession, and I spend more money on gas than food. Insane!!
The City of Yonkers could become a city in jeopardy if it doesn't get any help from the state, home owners, President Bush, Yonkers Raceway, or for God's sake, anywhere! LOL. My biggest concern is the school district budget which predicts a short fall of $22 million and more than 400 layoffs. Also Insane!! The city plans to throw its weight around using its teacher's union, the fourth-largest in the state, to lobby on its behalf...
Is the casino adding any revenue to the city? What about all of the new construction projects? Help...
Comments and suggesttions are always welcome...
I think the NY Times read my last blog (check it out here)...
"The Metro-North station has been restored to its 1911 Beaux Arts self; its reputation as a locus for prostitution and drug dealing is now a memory.
Leading out to the water, a Victorian-era pier - less than a decade ago a site where homeless people gathered - is a New York Water Taxi embarkation point for Wall Street. It is also home to a glass-enclosed 260-seat restaurant overlooking the Palisades and other Hudson River marvels"
To read more from the NY Times article featuring the development in Downtown Yonkers, see link below:
Living In Yonkers: The Waterfront District
Picture Slide Show of the Waterfront in Yonkers
The opening sentence describes the progress very well "LIKE a caterpillar undergoing a metamorphosis, the down-and-out industrial waterfront of Yonkers is shedding its old skin." One of my concerns which was also shared by local Realtor/trustee of the Yonkers Historical Society/member of the City Council's Green Policy Task Force, Nortrud Wolf Spero, "upscale is nice but an area should retain its diversity".
Links to other Yonkers Sites:
The City of Yonkers Official Site
Historic River Towns - Yonkers
Facts and Demographics - Yonkers
Comments and questions are always welcome. To visit my website and to search for properties in Westchester County:
Michael Brown Property Search Site
Michael Brown has had a very successful five years working with buyers and sellers of residential property throughout Westchester County.
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