(Read more on the multifamily market.)

YONKERS-At a ceremony held at the project site on the HudsonRiver waterfront, city and state government officials helpedcelebrate the official topping out of the $125-million Hudson ParkNorth rental housing development. Mayor Philip Amicone, citycouncil president Chuck Lesnick, council majority Leader PatriciaMcDow, State Assemblyman Michael Spano and State Sen. AndreaStewart Cousins were among the more than 100 attendees of the eventorchestrated by joint venture developers Collins Enterprises LLC ofStamford, CT and AIG Global Real Estate of New York City.

Hudson Park North is the second phase of the Hudson Park rentalhousing project. In 2003, the 266-unit Hudson Park South wascompleted. That $75-million development is now nearly 100% leased.The Hudson Park North project, currently under construction, willfeature 294 one- and two-bedroom units in two tower buildings of 14and 12 stories that are connected by a four-story building. Theproject will also feature 20,000 sf of retail, restaurant andprofessional office space and a public esplanade along thewaterfront that will be linked to an existing waterfront boardwalk.Eventually, the city and Westchester County hope to completeapproximately 4.5 miles of public walkways to the Hudson Riverextending from Riverdale in the Bronx to Hastings. Other amenitiesat Hudson Park North will include a health and fitness center,riverfront courtyard, community rooms and a business center.Monthly rents will range from $1,850 to $2,300 for one-bedroomresidences and $2,530 to $3,600 for two-bedroom units.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.