Strategic Capital LLC, the New Jersey-based real estate investment arm of China State Construction Engineering Corp., held a topping-out ceremony for the final piece of its sprawling development along the Hudson River waterfront in Yonkers.
Hudson Park, the 16-acre development overlooking the Palisades along the Hudson River, has entered the final stages of construction with a 230,000-square-foot, 213-unit tower. The $85 million tower, called Hudson Park River Club, will include studios and one- and two-bedroom apartments.
“This is transformative to our city, to our development and to our future,” Yonkers Mayor Mike Spano said at the Tuesday afternoon ceremony.
Hudson Park River Club is expected to be completed and ready for leasing in the third quarter of 2018, according to Phillip Gesue, Strategic Capital’s chief development officer.
“It’s exciting for us because topping-out the building is really when you have the turning point and your schedule becomes more clear,” Gesue said.
The property at 1 Alexander St. will also provide a range of amenities including an indoor pool overlooking the river, a resident lounge and club room, a chef’s kitchen, a fitness center, a recreation area and covered parking.
“This is going to set a new standard of luxury for Yonkers,” Gesue said.
The transit-oriented complex sits across the street from the Yonkers Metro-North train station. Apartment rentals begin at $1,720 for a one-bedroom and $2,200 for a two-bedroom.
Strategic Capital took over development of the final tower from Stamford-based Collins Enterprises LLC and broke ground on the 24-story building in September 2015.
“We’re not the original developer, but we get to put the final nail in the coffin, so to speak,” Gesue said.