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September 22, 2019Cart

Business

by Westchester County Business Journal
by WCBJ

Modera Hudson Riverfront apartments in Yonkers begins leasing

Modera Hudson River-front, a six-story, 324-unit rental complex on the Hudson River waterfront in Yonkers, is now leasing apartments.
Developed by Mill Creek Residential Trust LLC, the 572,500-square-foot residential community at 20 Water Grant St. includes a mix of studio and one- and two-bedroom apartment rentals.

The section of the complex that faces the river. Photo by Bob Rozycki

According to the company’s website, studio apartments start at $1,920 to rent per month, while one bedrooms begin at $2,098 and two-bedrooms start at $2,814.

The apartment building welcomed its first tenants earlier this year and today, 23 apartments are occupied by residents. Another round of residents are slated to move in April 10, a Mill Creek spokesperson said. The complex is still under construction and should be completed later this summer.

Officials believe the transit-oriented complex, which is just blocks from the Yonkers Metro-North station, will attract both young professionals and empty nesters from throughout Westchester County, as well as those from New York City.

“Yonkers continues to prove to be a highly desirable locale that offers the accessibility, dynamism and affordability to compete with many of New York City’s great neighborhoods,” said Russell Tepper, senior managing director of Mill Creek’s Northeast division. “With the launch of Modera Hudson Riverfront, Mill Creek is addressing the demand for unique apartment living by developing a new upscale community that is continuing the revitalization of Yonkers’ waterfront.”

Formerly known as Palisades Point on the Hudson River, the property was previously slated for redevelopment as part of the city’s public-private partnership with master developer Struever Fidelco Cappelli LLC. In 2013, the Yonkers City Council approved amendments to SFC’s leases at Palisades Point to allow SFC’s only remaining partner in Yonkers, New Jersey-based Fidelco Realty Group, to proceed with development plans on the waterfront site. Mill Creek Residential bought the leasehold interest from Fidelco and started construction on the 3.7-acre property in 2016.

The apartments feature wood-plank-style flooring, soaking tubs, quartz countertops, stainless steel Energy Star appliances, custom 42-inch cabinets, 9-foot ceilings and walk-in closets. Views will also be a draw, the developer said, with some apartments overlooking the city, the Hudson River or a public park the company is in the process of developing along the waterfront.

The mailroom in the Modern Riverfront. Photos by Aleesia Forni

A bedroom in the new complex.

A kitchen includes a breakfast nook.

The complex features a 15,000-square-foot amenity center that includes a hotel-style lobby, resident lounge, fitness center, private home offices, an indoor and outdoor sky lounge with a golf simulator and a sundeck. There are also interior landscaped courtyards, along with outdoor gaming tables and grills, fire pits and a pool.

“It is important that Yonkers continues to increase its walkability as we promote a live, work and play lifestyle in the city,” Yonkers Mayor Mike Spano said. “Yonkers has a history of embracing ‘smart growth’ and it is important that public officials and private developers work together on new projects to continue this trajectory in the future, while creating developments that integrate with, and enhance their surroundings, such as Modera
Hudson Riverfront.”

Dallas-based Mill Creek develops, acquires and operates apartment communities across the United States. With 14 offices nationally, the company has a portfolio of 71 communities nationwide, including complexes in Morristown and Jersey City in New Jersey and Mineola on Long Island.

Though Mill Creek Residential has not submitted any plans for other projects in Westchester, officials previously told the Business Journal that the company is keeping an eye on the county’s growing market.

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