A Rye-based developer was joined by Yonkers city officials at a Tuesday groundbreaking ceremony for a $15 million, 150-room hotel expected to open in late summer on Tuckahoe Road.
Alfred Weissman Real Estate LLC is building a five-story, 180,000-square-foot Hilton Hampton Inn on a vacant parcel at 555 Tuckahoe Road that adjoins the POP Displays USA plant. The industrial property also is owned by the Weissman family”™s real estate investment and development company in Rye.
The developer has estimated the hotel project will create 50 permanent jobs ranging in pay from $22,000 to $100,000 annually and nearly 200 construction jobs. The Yonkers Industrial Development Agency last year approved approximately $923,000 in mortgage and sales tax exemptions and a property tax abatement for the development.
“The hotel business in Yonkers is growing rapidly, a strong indication that the city is establishing itself as a leading destination for business and travel,” Yonkers Mayor Mike Spano said in a statement prepared for the groundbreaking ceremony. “Business developers are confident in the future of Yonkers and they”™re saying so by investing in us.”
John Larkin, Republican majority leader of the Yonkers City Council, at the groundbreaking said the 555 Tuckahoe Road property “has had a long history of development proposals that could never garner the necessary support of the surrounding community. As a former community person and now as the councilman for the 6th district, I placed the emphasis on trying to achieve that balance between development and community concerns. I believe this proposal of a Hampton Inn has achieved both these goals.”
Principals at Weissman Real Estate could not be reached for comment.
Developer Alfred Weissman in a statement at the ceremony said the company is “excited to be part of the economic renaissance” in Yonkers led by Spano.
City officials noted the Weissman company”™s decades of experience in developing commercial properties in the city. The company”™s previous redevelopment and renovation projects and formerly owned properties include the Herald Statesman building at 1 Larkin Plaza, now part of the iPark Hudson commercial complex, and 20-26 S. Broadway, a 12-story bank building at downtown Getty Square.
