Yonkers, NY

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...

MICHAEL BROWN - REALTOR® WESTCHESTER COUNTY NEW YORK

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

I love the City of Yonkers! As the 4 largest city in New York State (by population as of 2005) it has so much to offer. It has loads of businesses, industrial entities, shopping and entertainment. It is also one of the closest cities in Westchester County to NYC.

On Feb. 26th, 2008 Mayor Amicone hosted a public forum on downtown development in Yonkers which I regretably missed, outlining the future of Yonkers. Featured were the plans for a state-of-the-art ballpark at chicken island and the opening of Saw Mill River.

Downtown Yonkers is amazing, it has really come a long way. Awesome new restaurants, shops, metro north station uplift and tons of great waterfront coops/condos and homes. Blocks that have been known for late night summer hang outs are ghost towns at dusk. I still wonder why it hasn't taken off like the White Plains developments. Is there still a stigma?