YONKERS – Revitalization of the Cottage Gardens neighborhood in the City of Yonkers will continue as the city’s Industrial Development Agency has given initial approval to phase three, which will create 70 units of new housing.
This continues the replacement of the outdated Cottage Place Gardens housing project with modern rowhouse apartments, and adds the replacement of a deteriorated Mitchell-Lama townhouse at 209 Warburton Avenue.
The project is a joint one between the Municipal Housing Authority of the City of Yonkers and The Community Builders, a private-sector housing developer and follows the successful development in recent years of Cottage Place Gardens phases one and two.
The IDA will assist the new development by providing a sales tax exemption on materials used in construction, a mortgage tax exemption on the transfer of the land, as well as a temporary property tax abatement.
The 1940s era Cottage Place Gardens consisted of 256 units of public housing that had become severely deteriorated. They are being replaced with modern family units. The latest plan will replace three buildings at 8 Cottage Place Gardens that contained 56 units. The Community Builders will also replace a nearby deteriorating building at 209 Warburton Avenue that contains 21 units.