Yonkers is in its final approval on the biggest redevelopment programs in the New York metropolitan area estimated at $1.5 billion dollars, Yonkers is partnering up with struvever fidelco cappelli .
It will included 1,000 new residential units, and million square feet of new commercial and retail space, with entertainment venues and a minor league baseball stadium plus a daylighting of saw mill river. Infrastructure improvement is need from parking structures to new water and sewer lines to the e roadway and traffic improvement.
TIF, tax increment financing which has been employed in cities in county to pay for public improvement will also be used in Yonkers redevelopment. This will not burden property taxpayers.
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