Japanese manufacturer Kawasaki Rail Car Inc. reportedly has agreed to buy the 239,000-square-foot factory it occupies at i.Park Hudson in Yonkers for $25 million after months of negotiations, according to the Wall Street Journal.
Kawasaki also plans to double the amount of office space it leases in an adjacent building to 60,000 square feet, the report states.
The rail car manufacturer”™s plans stretch back to last year, when Gov. Andrew Cuomo, along with Empire State Development Corp., announced Kawasaki would receive a $500,000 state grant to stay in Yonkers and retain 375 jobs there.
The grant reportedly has been delayed while Kawasaki negotiated a deal with the site”™s current owner, National Resources Inc., to purchase the facility.
The Wall Street Journal reports a contract was signed in May and is expected to close by the end of 2012.
From its Yonkers facility, Kawasaki has built rail cars that are used by the Metropolitan Transportation Authority”™s Metro-North Railroad and New York City subway system and by the Port Authority Trans-Hudson Corp. (PATH).
The nine-story, quarter-mile-long complex was occupied by Otis Elevator Co. until the iconic Yonkers manufacturer departed Yonkers in the 1980s. The property was purchased by Natural Resources in 1999 and renamed i.Park Hudson.
