Fall-Winter 2001 Published by the CITY OF City of Yonkers Office of Economic Development VISION YONKERSPROGRAMS AND SERVICES THAT BENEFIT BUSINESSES IN YONKERS Mayor’s A Vision Becomes A Reality Economic Forum A Success Over 150 business people, developers and bankers attend- ed the Mayor’s Economic Forum at Ridge Hill Plaza to hear Deputy Mayor Amicone describe the tremendous progress made in the City of Yonkers over the past three Mayor Spencer and officials break ground for Hudson Park Project Mayor John Spencer years. Deputy Amicone updated the businesses in attendance on the projects com- When Mayor John Spencer took office in 1996, New York, and it is just the beginning of pleted, the projects in progress and the future he promised the citizens of Yonkers that under a tremendous renaissance in our great city,” projects planned in the City of Yonkers. “The his Administration the development of both he added. Spencer administration is proud of its accom- Austin Avenue and the waterfront would become plishments and excited with the projects a reality. The development of Austin Avenue is Mr. Collins, who is developing the site, planned,” remarked Amicone. “This is an incred- well on its way to success – creating more than explained that construction would take approxi- ible report and we look forward to future devel- 1,000 new jobs as well as bringing an estimated mately 18 months to complete. He stated that the opment,” said Robert Gottschall, Vice President of $4 million in new, annual sales tax revenue to apartments would rent for between $1,700 and Yonkers Chamber of Commerce. “If you are con- the City of Yonkers. Furthermore, on October 25, $3,000 a month. He praised the Mayor and his sidering upgrading, expanding or relocation your 2001 the Mayor “made good” on his second staff for their cooperation in helping bring business you should consider the City of Yonkers,” promise when he and other Yonkers officials together all the pieces in this very complicated added Gottschall. ■ joined with Arthur Collins, President of Collins transaction. “Had Mayor Spencer not kept the Enterprises, Inc., at the groundbreaking cere- pressure on all of us, this groundbreaking would mony for Hudson Park, the $56 million develop- not be taking place today,” Mr. Collins said. Summary of Projects: ment project for the Yonkers waterfront. Plans Other city officials at the groundbreaking cer- include the creation of 292 units of market rate emony also expressed their enthusiasm about the PROJECTS NUMBER OF NEW AMOUNT OF INVESTMENT JOBS CREATED apartments and approximately 10,000 square beauty of the site and its prospects for success. feet of office and retail space. Hudson Park, with “Yonkers, New York has the most spectacular Completed 2,700 $278 million its panoramic views of the Hudson River and the views of any community along the Hudson; clear- majestic Palisades, is located between the ly we have a jewel,” said Deputy Mayor Phil In Progress 950 $402 million Yonkers train station and the Yonkers Pier. Amicone. Jim Pinto, Executive Director of the Planned 5,900 $2.1 billion Downtown Waterfront Development Corporation, “This $56 million private investment in our further explained how Hudson Park will have a Total 9,550 $2.780 billion Waterfront District is of major importance to our very positive impact on the entire downtown area community,” said a jubilant Mayor Spencer. “It and will result in future development. further brings the total investment in the revitalization explained how Hudson Park will have a very pos- of our Waterfront District to an unprecedented itive impact on the entire downtown area and will Yonkers Positioned For $212 million. This is a great day for Yonkers, result in future development. ■ Biotechnology Center The Empire State Development Corporation, Make Way For New Offices And A the Yonkers Industrial Development Agency and the Ridge Hill Development Corporation Parking Garage have been burning the midnight oil, trying to attract a major biotech company to Ridge Hill During the past month, the old has given way and the nValley Technology Center (formerly to make room for the new as bulldozers and Purdue Frederick). The company is Biovest cranes demolished several buildings on Main Corporation, headquartered in New Jersey Street and Buena Vista Avenue in the Downtown with production centers in various states. It District. This is all being done to make way for has expressed interest in utilizing both sites. the construction of a new 50,000-square foot “We realize that we are competing with other office complex and a 600-car parking garage. municipalities for Biovest, but we believe we Jim Pinto, Executive Director of the Downtown can offer them the best incentives,” explained Waterfront Development Corp,, said that the City Mayor Spencer. “If things go our way, Biovest’s has entered into an agreement with Homes of arrival could add hundreds of good paying jobs America to develop Station Plaza and that con- ■ to our City.” struction will begin by the year’s end. ■ Station Plaza YONKERS CITY OF VISION – Fall/Winter 2001 • 1 Technology Move Over Hollywood! Studies The City of Yonkers and the Yonkers Industrial Development Agency (IDA) each have commis- sioned studies to determine how technology is currently being used by the Yonkers City govern- ment as well as by local businesses, respectively. The studies will also evaluate what needs to be done to make Yonkers more competitive in this high tech world. Qwest Communications has been commissioned by the City to conduct its study, and IBM is conducting the evaluation for the IDA. These are some of the recent motion pictures filmed in Yonkers A great deal of excitement has been generat- Agency (EPA) on plans to remediate the site. An The City’s study will examine how the local ed in the City of Yonkers with the news that agreement was reached during the summer and government is currently interfacing with individ- plans are underway to develop the former cleanup of this magnificent waterfront location ual citizens, consumers and local businesses; sug- British International Cable Corporation (BICC) is now underway. gest changes in the existing system; and propose plant at Point Street into a mecca for movie and a blueprint of how to attain these goals over the television production. A number of buildings BICC is working on developing a master plan next three years. According to Linda Infante, are located on the 12 acre site, but the most for the entire site. In addition to developing the Director of the City's Management of Information attractive to the movie industry is a building existing buildings into television studios and a Systems (MIS) Department, “Our study will eval- with a 92 foot high ceiling. “This is the highest film stage, BICC is considering the possibility uate the City's existing web site and examine ceiling along the Eastern sea board and it is a of developing the remainder of the site into mar- how the site is currently being used. Using this facility that is used almost continuously by the ket rate housing, restaurants and neighborhood information, the experts will develop recommen- movie industry,” stated Danielle Francini, retail. dations for how the general public and business- Director of Films for the City of Yonkers. es can communicate better with the City, and “Another major asset of the site is its prox- access government information more easily British International Cable Corporation imity to New York City. We believe it is a perfect without having to leave their homes or places closed its operation in the mid-1990’s. During location for the television and movie industry of business.” the past four years it has been working with the and we look forward to working with them,” New York State Environmental Protection stated Mayor Spencer. ■ The IDA’s study will determine the extent to which technology is currently used by local busi- nesses; the fiber/wireless capability in Yonkers; the projected demand for technology by busi- Yonkers IDA Awarded $4,000,000 nesses; and what must be done to meet that need. IBM has already conducted three full day work- In Federal Funding shops with Yonkers business people who shared information about their current uses of technol- The City of Yonkers in an effort to continue a ogy and their future needs. recent trend of unparalleled economic growth, happily accepted a Loan Guarantee Commitment MaryAnn Preztunik, of IBM Global Services and of $3,000,000 and a $1,000,000 grant from the project manager of the study, said, “I am pleas- United States Department of Housing and Urban antly surprised by the extent to which technolo- Development (HUD) during a Press Conference on gy is already being used in Yonkers. The Monday, October 15, 2001 at City Hall. Yonkers-based Consumer Union, for example, has more Internet activity on a daily basis than the The loan guarantee, presented by HUD Assistant Wall Street Journal.” Secretary for Community Planning and Develop- ment Roy Bernardi, will be utilized in conjunction While these two studies are being conducted with a $1,000,000 Brownfields Economic separately, the City Administration will evaluate Development Initiative grant to finance the IDA ‘s HUD’s Assistant Secretary Bernardi with Mayor Spencer both results to develop an overall strategy to firm- nValley Technology Center in Yonkers. Development for procuring these essential dollars ly establish Yonkers as a city of the future. “These which will strengthen our stature as a state-of-the- are among the most important studies we have More specifically, the Section 108 loan help art, business-friendly City." conducted in decades,” said Mayor Spencer. finance the rehabilitation of the former Purdue “Our City’s future success is clearly hinging on our Frederick building in Nepperhan Valley with an "This project will surely be a catalyst for the technological capabilities, and we are anxiously eye toward housing new media, high technology development of the entire Nepperhan Valley and awaiting the results so that we can begin imple- and biotechnology firms.