Project Is the Fourth Phase of a Six-Phase Master Plan to Redevelop the Cottage Place Gardens Public Housing Complex into Community of Choice in Southwest Yonkers
YONKERS, NY (October 2021) – City, County and State officials joined with the Municipal Housing Authority for the City of Yonkers (MHACY) and The Community Builders (TCB) on October 29 to celebrate the completion of 172 Warburton at The Ridgeway, a new $53.5 million transformative mixed-income residential community in Southwest Yonkers.
172 Warburton at The Ridgeway continues the strong partnership between MHACY and TCB to transform Southwest Yonkers by replacing three outdated Cottage Place Gardens public housing buildings and a vacant, dilapidated three-story residence with a new, energy efficient eight-story elevator residential building containing 85 housing units, a 181-unit parking garage for residents of this project phase as well as the broader Ridgeway development.
An exciting and innovative feature of the project is a new universal pre-kindergarten center located at the street level of 172 Warburton and is operated by WestCOP to serve both lower-income families at The Ridgeway communities and the broader neighborhood. The pre-K center includes eight classrooms, a multi-purpose room, a commercial kitchen, staff offices, and an outdoor play area.
“Southwest Yonkers has a vibrant history, and this new public housing complex will provide residents with modern, high-quality affordable homes while also strengthening the entire community,” said Governor Kathy Hochul. “This neighborhood is vibrant and inclusive, and with our ongoing investment to provide New Yorkers with new housing opportunities, this city will continue to grow and thrive.”
HCR Commissioner RuthAnne Visnauskas said, “In partnership with MHACY and The Community Builders, we are driving the complete transformation of this neighborhood by replacing outdated buildings with modern apartments and a new pre-kindergarten facility to benefit the entire community. With the completion of 172 Warburton, our investment has yielded 327 newly constructed homes across four phases of development. By financing the preservation and reinvention of our aging but vital public housing, we are ensuring that more New Yorkers have access to safe, affordable homes in newly thriving communities like Southwest Yonkers.”
“The redevelopment of Cottage Gardens into The Ridgeway is yet another example of how Yonkers is revitalizing our neighborhoods and improving the lives of all our residents. As we see luxury housing rising along the riverfront, it is also important that we provide quality affordable housing so all boats rise with the tide. We thank New York State for making this possible and commend the leadership of MHACY and The Community Builders on this very significant development,” said Mayor Mike Spano.
“Not since the Yonkers downtown daylighting have so many layers of government come together to serve the needs of our tenants,’’ said MHACY President and CEO Wilson Kimball. “172 Warburton is the type of Public Private Partnership that shows these partnerships produce terrific results, we are very grateful to NYS, Westchester County, the City of Yonkers and our partners at The Community Builders for making this level of quality affordable housing available to our tenants.’’
“172-Warburton-The Ridgeway is an example of what can be done when multiple levels of government and the private sector work together. I am pleased to lead a Senate that is focused on funding affordable housing and education, high priorities for me. This development combines both: modern, affordable apartments and a Pre-K school on site. I appreciate the efforts of the various state agencies including the Division of Housing and Community Renewal, the Department of Environmental Conservation and Empire State Development who worked together to make this wonderful project a reality,” said New York State Senate Majority Leader Andrea Stewart-Cousins.
“Today marks another milestone in the Yonkers renaissance as the doors at 172 Warburton at the Ridgeway open for 85 families to move into new, quality, affordable homes,” said President and CEO of The Community Builders, Inc., Bart Mitchell. “Just as importantly, over 100 Yonkers children will experience state of the art early childhood education operated by WestCOP. On behalf of our organization, I extend my deepest thanks and a well-earned congratulations to the many partners and leaders who made this project possible, including NYS HCR, the City of Yonkers, Westchester County, our elected leaders, our funders, our residents, our neighbors, and our development partners at MHACY.”
Westchester County Executive George Latimer said: “172 Warburton is the perfect example of multiple levels of government working together to best serve our residents and our communities. Westchester County was happy to support this development with $5 million toward creating a new park and playground and connecting the water line in the neighborhood. The redevelopment of the older public housing units in the County with 85 new quality, affordable units has helped to transform this community in a very positive way.”
The unit mix of the 104,773-square-foot building includes 39 one-bedrooms, 31 two-bedrooms, and 15 three-bedrooms with a range of affordability.
The apartments include dishwashers, microwaves and air conditioning and the building includes a common laundry room and a rooftop resident center comprised of a resident meeting/lounge space, an outdoor terrace with views of the Hudson River, and a fitness room. In addition to vehicle parking, there will be additional parking for 40 bicycles.
The project has been designed to achieve Enterprise Green Communities (EGC) certification. Green elements of the project include Energy Star appliances and a solar PV array to provide energy for a portion of the building’s common electricity needs.
Ten percent of the project’s units are accessible for people with disabilities, and four percent of the project’s units are adapted for the needs of the hearing and visually impaired.
172 Warburton at the Ridgeway is the fourth phase of a six-phase master plan to redevelop the Cottage Place Gardens public housing complex into The Ridgeway, a mixed-income community of choice in Southwest Yonkers, NY. Constructed in the 1940s, the 256-unit Cottage Place Gardens long outlived its useful life 172 Warburton aligns with the City’s long-term vision for revitalization of this community identified in the Yonkers Choice Neighborhoods Transformation Plan and Warburton-Ravine URA plan.
The project has had a significant economic impact, creating or preserving over 150 construction jobs over a 24-month construction period. The project also employed dozens of engineers, architects, lawyers, consultants and others in the development and finance industries, utilizing MWBE and local businesses. 172 Warburton also will employ at least 30 full-time staff to operate the pre-K center and two to four new, full-time property management and maintenance positions.
Financing of the project was provided by SONYMA/Permanent Mortgage ($11.15 million); NYS Homes and Community Renewal (HCR) Housing Trust Fund and Subsidy Loan Program ($9.3 million); NYS Empire State Development (ESD) Restore New York Communities ($2.25 million); Federal/State Low-Income Housing Tax Credit and Solar Tax Credit Equity ($17.2 million); MHACY ($750,000); City of Yonkers City HOME Funds ($500,000); Brownfield Cleanup Program Tax Credits ($8.9 million), and New York State Housing Finance Agency (HFA) Tax Exempt Bonds ($25.4 million).
Regions Affordable Housing was the syndicator for the project, providing equity for the tax credits. JP Morgan Chase Bank provided a letter of credit for the project’s bonds. Sterling National Bank provided a bridge loan for the Brownfield Cleanup Program Tax Credits BCP tax credits. Critical predevelopment loans for the project were provided by Leviticus Fund, TCB, and MHACY.
MHACY, the second largest housing authority in the state behind NYC, is a model for the state and nation. In addition to its partnership with TCB in the redevelopment of Cottage Place Gardens, MHACY has been undergoing a major housing restoration over the past 5 years. Under the federal RAD (Rental Assistance Demonstration) program more than 1,700 units have been renovated.
The Municipal Housing Authority for the City of Yonkers (MHACY) is the largest provider of affordable housing in the City of Yonkers and the second largest public housing authority in New York State. MHACY has an unparalleled commitment to redeveloping, managing and administering its housing stock to provide low-income families, the elderly and disabled individuals with access to good, sustainable housing that improves the quality of the residents’ lives, fosters their economic success, and allows them to serve as integral members of communities in which they live. For more information visit www.mhacy.org
About The Community Builders
The Community Builders, Inc. is a leading 501(c)(3) non-profit with a mission to build and sustain strong communities where all people can thrive. TCB’s mission-driven businesses work with partners to develop, finance and operate residential communities, neighborhood amenities and opportunity programs for families, seniors and adults with disabilities. Since 1964, TCB has advanced housing equity through award-winning affordable and mixed-income communities and its pioneering Community Life model for resident success. TCB has developed over 32,000 homes and owns or manages over 13,500 homes. www.tcbinc.org