From Affordable Housing Finance:
A major affordable housing redevelopment project reached another milestone with the closing on financing for 178 Warburton at The Ridgeway, a new $56 million mixed-income complex of 81 apartment homes in Southwest Yonkers, New York.
One of the largest affordable housing redevelopment projects in the region, the project is being developed by the Municipal Housing Authority for the City of Yonkers (MHACY) and The Community Builders (TCB).
The eight-story building, which is under construction, will feature a unit mix of six studio, 35 one-, and 40 two-bedroom apartments. The units will include dishwashers, microwaves, and air conditioning. In addition, the building will feature a common laundry room, on-site management, and a rooftop resident center comprised of a resident meeting/lounge space, an outdoor terrace, a fitness room, and free parking. The units are affordable to families with a mix of incomes, ranging from 30% to 90% of the area median income.
Read Affordable Housing Finance's article "Yonkers Housing Complex Reaches Milestone," featuring the Municipal Housing Authority for the City of Yonkers.