« Waiting for Friedman: four months after oral arguments, decision in last Atlantic Yards legal case yet to emerge | Main | The Day: Barclays Center Progress »
July 11, 2011
Tri-State briefs: Long-delayed Ratner project opening soon in Yonkers
The Real Deal
One of the condo buildings at Forest City Ratner's long-delayed, mixed-use mega-project in Yonkers will soon be opening.
The $660 million project -- which sits on 81 acres along the New York State Thruway and has been dubbed Ridge Hill Village -- will include 1,000 rental and condo units. It will also include 1.2 million square feet of retail, 160,000 square feet of offices and possibly a hotel.
According to published reports, once complete, the project -- which faced community opposition and legal hurdles -- is expected to generate almost $24 million in annual tax revenue for the financially troubled city of Yonkers. It is also expected to generate $8.6 million in county taxes and $29.3 million in state taxes.
NoLandGrab: "Is expected by" whom? We expect that it will be a bust for Yonkers, but a boon for Forest City.
Posted by eric at July 11, 2011 12:22 PM