Yonkers IDA approves major high-rise project (MidHudsonNews)

The Yonkers Industrial Development Agency gave its approval to an incentive plan that will see the development of a 442-unit high rise apartment building to the downtown area. RXR Realty and Rising Development will be the lead partner in the project in Larkin Plaza, overlooking Van Der Donck Park and within walking distance of the Yonkers train station. RXR is entering into a joint venture with Rising Development, which has owned the properties for several years. RXR plans to build 454,000 square feet of apartments plus 40,000 SF of ground floor retail and restaurant space. The company is in discussions with the city to set aside a port [...]

RXR is one of the largest owners, managers, and developers in the New York Tri-State area with interests in
88 commercial real estate properties and investments containing 23.3 million square feet with an aggregate gross asset value of $12.0 billion. In addition, RXR has a residential development pipeline of approximately 3,000 units. RXR’s core growth strategy is focused on New York City and the surrounding Tri-State area markets.