Developer plans 128-unit complex on former Yonkers School 19 site

A Long Island City-based developer is moving forward with plans to convert the former School 19 property at 70 Jackson St. in Yonkers into a 128-unit apartment complex.

Alma Realty Corp., a landlord and developer with residential, commercial and warehouse properties across New York and New Jersey, plans to construct a $28 million, eight-story building with 24 studio, 64 one-bedroom and 40 two-bedroom units and 170 parking spaces on the property.

In March, the Yonkers Industrial Development Agency granted 70 Jackson Street LLC, an entity formed by Alma Realty, a $360,000 mortgage tax exemption, and an $830,000 sales tax exemption on materials used in the construction of the project. A temporary property tax abatement will also be negotiated.

According to the city, the former school sat empty for more than 20 years.
“This property has been empty and gathering dust for two decades,” said Mayor Mike  Spano, who chairs the Yonkers Industrial Development Agency. “We”™re so glad to put it back on the tax rolls and provide needed housing for people who want to live and work in Yonkers.”

The developer acquired the property from the city of Yonkers for $676,900 and demolition work on the site began in July.
“The current plan is to begin excavation work within the next few months,” said Jason Fink, a spokesman for Alma Realty. Roughly 150 jobs will be created during the project”™s construction phase.

In a statement, Alma Realty said the development will “help add new vibrancy to the community and provide a valuable economic boost.”

Alma Realty also believes the development will bring increased foot traffic to the area and support ground-level retail in the neighborhood. The site is just south of St. Joseph’s Medical Center.
“In redeveloping this vacant property, we seek to attract tenants looking for downtown environments with access to public transit and the ability to walk to local shops and restaurants,” the company said in a statement.

The apartment complex will feature an outdoor courtyard and recreational space.

Elsewhere in Westchester, the company plans to build a 150-unit apartment and retail complex on Park and Brown streets in Peekskill.