Yonkers IDA, HRM Gala Honoree
The Hudson River Museum will host Expanding the View: A Gala to Benefit the Hudson River Museum two weeks from today–Friday, June 17. This is our most important fundraiser of the year, providing essential resources to the HRM and our community, and celebrating three outstanding honorees who have strengthened the community and the HRM through their vision, innovation, and creativity: the Bernaccia family and Liberty Lines, artist Jamel Robinson, and Yonkers IDA.
Our final honoree spotlight is Yonkers IDA (YIDA). Established in 1982, YIDA works to create economic development and job growth throughout the City of Yonkers by attracting new businesses, retaining existing ones, and helping them all become more competitive in a global marketplace. Since 2019, YIDA has provided financial incentives to development projects representing an investment of approximately $1.48 billion. The developments are projected to create more than 3,250 new residential units (with 10% allocated to affordable housing) and more than 3,300 construction jobs. YIDA’s efforts have ensured the continued economic and cultural revitalization of the City of Yonkers, with increased possibilities for housing, tourism, and new business.
In 2021, the YIDA provided financial incentives to residential and commercial projects representing a total private investment of more than $508 million. The developments are projected to create 1,009 new residential units and more than 1,739 construction jobs. Recent projects include Hudson Piers, Extell Development’s mixed-use community with more than 1,400 luxury and affordable apartments, exciting retail, and a new riverfront esplanade along a prime waterfront location with beautiful views of the Hudson River across to the Palisades. The project will be constructed in three phases over the next six years.
James Cavanaugh, President,Yonkers IDA, stated, “The Yonkers IDA congratulates the Hudson River Museum on its leading role in the City’s cultural and arts scene. The Museum not only improves the lives of our residents, but it has a direct impact on economic development. It’s a gem in our midst.”
We are grateful for YIDA’s efforts to ensure the continued economic and cultural revitalization of Yonkers and the success of so many businesses and organizations in the area, including the Hudson River Museum!