The Yonkers City Council Tuesday night unanimously agreed to end the city”™s redevelopment agreement with the defunct partnership chosen as the city”™s downtown master developer seven years ago.
The council”™s vote ends the city”™s four-year-old land disposition agreement with Struever Fidelco Cappelli L.L.C., whose ambitious multiphase plans for mixed-use development in the city”™s downtown core and on its waterfront have been stalled since the recession. City officials said the Yonkers Industrial Development Agency can now pursue other developers for two of SFC”™s planned downtown projects, River Park Center at Chicken Island near Getty Square and Cacace Center on Nepperhan Avenue opposite City Hall.
The council also approved amendments to SFC”™s leases at Palisades Point on the Hudson River to allow SFC”™s only remaining partner in Yonkers, New Jersey-based developer Marc Berson, to proceed with development plans on the waterfront site. Berson, founding chairman of Fidelco Realty Group, recently said he hopes in 2014 to begin construction of a residential complex at Palisades Point with 300 to 350 rental apartments.
The City Council also unanimously approved the $1 million sale of the former City Jail at 24 Alexander St. to Cahokia L.L.C., a company of Manhattan art collector and dealer Daniel Wolf. Â Wolf and his wife, architect Maya Lin, have plans to convert the vacated 39-cell jail for art offices and collection storage as well as public performance and exhibit space and eventually to add artist studios and residences.
