The Ginsburg Development Companies (GDC) has proposed a new residential apartment complex on the heels of an approval of another. On February 8th, 2023, The Yonkers Planning Board approved the “North” building in the Bridgewater Development at 150 Downing Street. Now, GDC has revealed plans for another tower located at 70 Pier St.
A mixed-use residential and commercial tower consisting of 36 apartments over four floors will be immediately adjoining to the Metro-North train tracks. The proximity to the train tracks will create “a very attractive arrival point with people coming to the new GDC building on Downing Street and the other development that will happen in the area,” says James Surdoval of GDC.
The land lot for this new development was previously owned by the Yonkers Parking Authority. Ginsburg purchased this lot in 2017. The new tower will host 35 parking spaces – fewer than is required by current zoning laws. There are also parking spaces which GDC proposes to annex from the adjacent Yonkers municipal lot.
This area is also home to Abe Cohen Plaza. GDC is proposing to enter into a maintenance agreement with the City of Yonkers to enhance this space. New paving, landscaping, and a new clock tower are all proposed for the plaza. Funding will come from GDC, but the work itself may be completed by either party with Surdoval saying, “Whether we do it or they do it we’re willing to fund it.”
Ginsburg Development Companies sees the 70 Pier Street development as a sibling of the 150 Downing Street complex. The estimated cost of 70 Pier is 11.5 million dollars and 150 Downing is $65 million. They are both part of what the city calls the, “Ludlow Street Transit Oriented Development Plan.”
