Public Library

Much of the City of Yonkers, New York, has been transformed over the past 15 years through a successful redevelopment strategy focusing on its waterfront, its downtown and its neighborhoods.  These efforts have brought about a robust economic recovery, turning what was once a distressed city marked by disinvestment, high crime rates and financial mismanagement, into one of New York State’s most vibrant cities.  New  high-rise waterfront condominiums, new municipal buildings and billions of dollars of new commercial investment are a major part of this economic story, and we are proud to have had a role in that story.  Since 1999, NDC has provided strategic planning, project structuring and financing to the city.

It was the construction of the new, award-winning Yonkers Library and Board of Education Building – after 20 years of trying—that opened the way for significant private development and additional public investment in the once-distressed area.  It was not until NDC began working on the project, structuring the deal with innovative tax-exempt financing, that it could finally be realized.  Yonkers can now point to millions of dollars of additional residential, commercial, transportation and recreational  development on the waterfront, all credited to the City’s fundamental commitment to the area, as evidenced by the library.

The gloriously renovated historic Yonkers Pier is also part of the Yonkers waterfront story.  The Pier redevelopment was an NDC New Market Tax Credit project that not only saved the sinking structure but also brought Peter Kelly’s 5-star restaurant Xavier’s X₂0 on the Hudson and a new commuter ferry line to the Pier. The project has helped turn the Pier into a destination location and is attracting additional investment in restaurants and night life in the area.

In addition to these projects, NDC has helped the City of Yonkers finance an additional 10 projects, ranging from housing to technology park development and continues to provide the city with invaluable economic and community development assistance.

“NDC has been working with this municipality for years and they have definitely made tremendous, tremendous inroads.  They’ve been helpful in many different development projects throughout the city that we, the city, have realized tremendous revenues and jobs from,” said Lisa Mrijaj, City of Yonkers’ Chief of Staff.