Mayor Spano Announces Yonkers IDA Approval of New Hotel at Cross County Shopping Center, Plus Residential Development of Former Downtown Music Hall

eHezi Archives 19 Comments


Hotel Cross CountyYONKERS, NY
— A new hotel at the Cross County Shopping
Center, plus redevelopment of a former downtown German music hall dating back
to the 1800’s, were the latest examples of the City’s economic revival approved
by the Yonkers Industrial Development Agency (YIDA) on November 27, 2012.

“These projects
represent the different types of investment happening in Yonkers today.” said
Mayor Mike Spano, who chairs the YIDA. “On the one hand a thriving shopping
center is improving, and on the other a long-vacant building will provide new
housing.”

Hyatt Place
Hotel at Cross County Shopping Center

The YIDA voted
its final approvals to assist the construction of a 155 room Hyatt Place hotel
at the Cross County Shopping Center, in a tower previously used as office
space.  The Hyatt Place brand caters to families and business travelers,
and will be the first hotel at the Cross County Center. 

The developers
will spend an estimated $26.3 million to add 17,000 square feet of first floor
and basement space to the existing 55,000 square foot office tower,
transforming it into a 155 room hotel.

The YIDA will
provide a $266,220 mortgage tax abatement and an estimated $775,023 sales tax
exemption on construction materials. The Yonkers portion of those exemptions
are an estimated $74,000 in mortgage tax and $305,741 in sales tax, since the remainder
would have gone to the State and County. 

The project will
create 80 construction jobs during the 18 month construction period, with an
estimated payroll of $6.6 million. The hotel will also create 28 full time
equivalent jobs.

 

The YIDA had given
the initial go-ahead for the project in July, and today’s action is the final
vote necessary for the IDA to provide assistance and set the project in motion.

Teutonia Hall Residential Conversion

Teutonia Hall, a
German-themed music hall constructed in 1891, will become the site of a
25-story residential tower with 412 units and a 550 space parking garage.
Today’s action by the IDA authorized phase 1 of the project, which will consist
of $8 million in demolition and site remediation. The IDA authorized $144,000
in a mortgage tax abatement and   $335,000 in a sales tax exemption
on construction materials. The Yonkers portion of the abatements was $40,000 in
mortgage tax abatement and $100,165 in sales tax exemption, since the remainder
would have gone to the state and county governments.

The developers of
the Teutonia project, Metro Partners, will later return to the IDA for further
incentives once site preparation is complete to begin phase 2 of the
development, which is estimated at $173 million and slated to start later next
year. 

The overall
project will include not only Teutonia Hall, but also the adjacent three story
“Trolley Barn” plus three existing residential buildings. In a significant
action for preservation, the historic façade of Teutonia Hall will be preserved
and transferred to the front of the parking garage. 

“These are two
terrific projects for the City of Yonkers and an indication that interest in
our shopping corridors and our downtown continues to be strong,” concluded
Mayor Spano.

eHeziMayor Spano Announces Yonkers IDA Approval of New Hotel at Cross County Shopping Center, Plus Residential Development of Former Downtown Music Hall

Comments 19

  1. My name is Jeremy Bligh and I am a Garage Conversion Expert. Since 2006 I have advised and project managed on over 350 Garage Conversion projects, with a combined value of over 4 millions pounds.

  2. He makes those statements because he doesn’t have a clue….
    I can’t tell you the conversations I’ve had with people like him over the past many, many years. BTW Stopcrying, I was born and raised here and watching this stuff a lot longer than you have. You all look through rose colored glasses until the next major corruption scandal hits the papers. Then, you all get disappointed and wonder how this could happen.
    It’s Yonkers. Too bad. But that’s what it is. I would love nothing better than to see something positive happen. They converted Scrimshaw house more than 30 years ago…that was the first of the “big plans” for the downtown development. 30 years later and corruption still rules.
    Go back and read the posts since Jan when Spano was elected. Then you tell me Stopcrying, what good development is all about. Because the people in this city are asking me and you if you live here, to pay for it. I’m tired of paying. And worse I’m tired of paying and watching what I paid for fall apart. I’ve been to many restuarants, supported many businesses. I’m tired. I’ll go to Hastings or Dobbs or NYC for my entertainment. I think most longer time residents feel the same.

  3. By the way stop crying, section 8 is in places you would not imagine like the waterfront. Check the rooster of residents. They are there already. Why would you make such a statement?

  4. It is not a matter of what development is good for yonkers, but whom is paying for it. After the tax breaks, pilots and empire zone releif are given, the citizens of yonkers are not allowed to partake in the profits of these”private enterprises” so why am I paying for it. And the word industrial is a cover for anything. What is industrial about a Hotel, Casino, Apartments etc. where you know you will make money anyway, with or without an IDA deal?
    It is not like they are opening a parts manufacturing plant or other true “industrial operation”.
    Build whatever you want , but stay out of my pocket. The best is when these deals go belly up, there is no way to recover the monies given. And as Tom Dinapoli told the city years ago, our IDA has no checks and balance to see if any benefit has befallen the City.
    If you own a home , you should be able to shop/attend these places for free, you are paying for it.

  5. Some of these niave, young, inexperienced, impractical corporate boys have got to be so,so dumb.
    Moe Money for Al. Wonder who else profits on these deals.

  6. Ok, out of morbid curiosity I will bite and ask you obvious urban planners, what in your opinion is good development for yonkers ?
    While I agree that past administrations have dropped the ball on downtown development, there is a renewed sense of hope in the area. I am in that area everyday and have been for many years and I have never seen so many different construction projects going on at once, from warburton avenue, into larkin plaza, buena vista avenue, alexander street and up toward the marina and trevor park.
    I wonder how many of you naysayers have seen the incredible new amphitheater that has been built next to the hudson river museum ? How many of you have even bothered to patronize the new restaurants in the downtown area ?
    Besides the construction there is a large number of application for a variance signs that have been posted all over downtown and up warburton avenue. That means that there are plans in the works and things are happening.
    To the above poster that stated that the buildings in question were in fine condition before the last few administrations, I have news for you, as I previously stated, I have been in the downtown area every day for a very long time and I can assure you that 99% of the buildings in question were well on their way to complete dilapitation before spencer and amicone came to power

  7. And I Quote….”do you think they would drop that kind of money without doing the proper studies on demographics and income potential”? This is Yonkers. Yes, I do. I’m sure they did “studies” on the downtown area so that all those new businesses that opened 5 or 6 years ago and are now closed so they could get the hype, publicity and MONEY UNDER THE TABLE to get those projects going with little regard for the small business people who lost their shirts by investing. Oh, and don’t forget we the taxpayers who are funding these “well researched studies” and developments. Condos at Ridge Hill are overpriced and not selling….not to mention amenities don’t exist for an “upscale” complex with high end prices. Hudson Park has taken years to fill and I think your “research” on occupancy might be just a little skewed in order to fund your “”Thriving Residential Tower”.
    Development can be good. Good for business, good for residential owners, and good for the general economy and population. It’s good when it’s done right. It’s good when the taxpayers aren’t the ones paying for it. But this is Yonkers. I’m still footing the bill and no one is giving me a break. Please stop insulting our intelligence, you pompous ass. We’re all working damn hard to pay our bills, taxes and homes. I don’t know what you do for a living, but something tells me it has nothing to do with supporting the local businesses in Yonkers.

  8. good solid project? Really?
    Ever hear of spot zoning?
    There are many buildings the city owns that have been left to rot under the 16 year reign of idiocy by Amicone and Thugs Inc. These buildings were in fine condition before this so called engineer took control….and they are all up for development.
    Take your head out of your arse and your hands out of my pocket.

  9. development doesn’t take place overnight. they started near the dock with some apts and restaurants. they have the alexander street plan, then daylighted the river, are now talking about additional residential and commerical along the new daylighted park. there is even a preliminary plan for the nodine hill area (would love to see that cleaned up).
    It takes time, but hopefully as more and more is developed the more desirable it will be to live there.
    everything that is there now is much better than what was there before.

  10. It seems that your mind is easily boggled. These buildings are not fully occupied and the few that have residents will not stay that way for long. There is nothing to keep people in these buildings, where do they shop, where do they socialize? They were promised that they were getting in on the ground floor of something promising. They may not know it but they were taken and soon they will realize it and leave. So if you want to talk about naive, I think you may be projecting onto me. To say these buildings will never accept Section 8 is false, that is all that it will eventually be. This is due to the politicians and developers self serving deals. There is no long term plan for development. The new buildings look stylish and there is a beautiful view of the Hudson but there is no plans for the logistics of long term viability. The infrastructure demands are not being addressed.
    The city needs to make sure that the area is safe, clean, and workable. Until these basic concerns are met there will not be long term tenants with people setting down roots in Yonkers. This will cause these buildings to eventually succumb to low demand and force the owners to accept Section 8.
    Maybe the politicians of Yonkers should make Yonkers a place that people would want to raise a family rather than a joke of corruption. Safety and Education needs to be addressed before the taxpayers fork over more money to out of town developers.
    As for your concerns about my union pride, I am touched that you would care so much. I wish that these same developers that take taxpayer monies out of Yonkers would pay a decent rate to these tradespeople. Any controls that are put in place to insure a decent payscale are routinely ignored. This is done by using sub contractors that intimidate workers to accept lower rates and out of state firms that will not use union labor.
    Stopcrying, you are now free to revert back to your smug little world where if “You build it they will come”.

  11. It seems that the only stupid one here is you.
    That building has been abandoned and in disrepair long before the city took ownership of it. Even if the city did try to do something with it, someone like you would have cried that they were spending too much taxpayer money.
    Even if the city had fixed it up, that neighborhood has been so blighted until now that no entity would have moved in there.
    This is a good solid project and will be good for yonkers.

  12. Your mastery of the situation is mind boggling.
    The majority of the new housing that has been built in downtown yonkers is occupied which is evidenced by the throngs of people who get off the train every evening.
    There is no way that these buildings will ever accept section 8, the very idea of it is incredibly naive. If you happen to be talking about the fact that the builders were previously required to put a small percentage of the apartments up at below market rate then I’m sure you are aware that the city is working to repeal that law so these new buildings are not burdened with having to rent to section 8 or the like.
    The bottom line is that if you are going to save this city you have to build.
    If you really are union and proud as you say then you should be pleased that all this construction will mean a ton of jobs for our union brothers and sisters in the trade unions.

  13. Why doesn’t this country stop weighing us down with taxes adn regulations so burdensome that we cannot create any new products in this country or use the resources we have. while we work toward developing more products and altering our trade agreements to favor US for a while. Eliminate foreign aide until we get our own house in order. We need to START with manufacturing. I lived through the fifties, products that were MADE IN AMERICA were so much sturdier than the products from other parts of the world. But somehow we gave up Quality for Quantity and sold our souls to China. Manufacturing is the answer.

  14. stupid people.
    it’s the city who owned this abandoned building.
    it’s the city who let it fall into a blighted state for all these years
    it’s the taxpayer who is paying for it.
    and you think it’s all okay.
    just another pig at the trough.

  15. Wow another 412 units in downtown YO! I guess we all missed that all the other units built down there are now full. This too will become Section 8 housing. So to recap Yonkers taxpayers subsidize building it, developers make off with cash, more people move up from the Bronx, taxpayers pay state tax to pay the rent. Got it! These geniuses are brilliant. Now back to blaming the unions for all our problems.

  16. Stop crying, would you rather see an abandoned building on Buena vista Avenue that has been a sign of urban blight for years or would you rather see a thriving residential tower that will bring residents who will bring new life into downtown?
    As far as cross county goes, do you think they would drop that kind of money without doing the proper studies on demographics and income potential ? The answer is no, the investing business obviously thinks it can work and just because you wouldn’t stay there doesn’t mean other people won’t.
    Your negative attitude is exactly what is wrong with this city, nothing is ever good enough. Yonkers could build the tallest building in the world and an idiot like you would say ” it’s not tall enough.”
    My rant is over now go crawl back under your rock

  17. More giveaways from the IDA. Just wondering how much these new ” developments” will cost the taxpayer?
    By the way who the $uck would want to stay at a hotel in Cross County?

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