The Urban Land Institute (ULI) Tri-State Land Use Council has released its first Case Study, focused on the Hudson Park development located on the waterfront in Yonkers, New York. The case study, which includes interviews with public and private sector representatives directly involved in the process, data showing how the project helped the city’s long-term financial goals, and highlights best practices used in the successful revitalization of this former industrial area, can serve as a valuable resource for other municipalities in the tri-state metro region as they consider similar redevelopment opportunities.
Several factors were involved in the nearly two-decade development process of Hudson Park. It took both public and private investments, beginning with the Metropolitan Transportation Authority (MTA) refurbishing the historic Yonkers Station, as well as replacing several tracks and bridges to make the short ride to midtown Manhattan a better experience for commuters. In the pre-development stages, the city and various non-profit organizations purchased the property, so residents would have input into what would be constructed and ensured a smoother process to change the zoning codes. The city also built a new library and park near the complex, which helped private investors secure the financing they needed for construction.
“Our Tri-State Land Use Council Case Studies seek to highlight transit-oriented developments that have helped create thriving and sustainable communities, and Hudson Park is a great example for other municipalities across the region to follow,” said Felix Ciampa, Executive Director of ULI New York. “I would like to thank everyone who was involved in the process of putting together the Hudson Park case study. By documenting successful projects like Hudson Park, we hope to be able to showcase the positive outcomes that can be achieved when the public and private sector work together to revitalize former industrial areas across the state.”
“It was a long time in the making, but by ensuring residents were involved in the process we created a plan that achieved our goals,” said Wilson Kimball, Commissioner of Planning and Development for the City of Yonkers. “The development of Hudson Park can be an example for other former industrial areas in New York and across the country.”
“We would not have been able to develop Hudson Park without the city and state committing to the infrastructure improvements that made this project a success,” said Arthur Collins, Co-Founding Principal and President of Collins Enterprises, LLC. “It was great working with such committed partners and am pleased the process has been documented for others to emulate.”
“By utilizing the strengths of this former industrial area and creating a plan that put the needs of the community first, this revitalization effort is having the positive impact we set out to achieve,” said Edward Sheeran, President of Palmer Economic Development, Inc. “The increased economic and social activity has been great to see, and this case study outlines the process that made it all possible.”
Some key milestones reached by the Hudson Park development include:
- Full occupancy of the new retail and office spaces
- The first two apartment buildings are fully leased
- In 2015, it was estimated that Hudson Park generated over nine-million dollars in operating income for Yonkers
- In Fiscal Year 2016-2017, Hudson Park generated over $2,000,000 in city/school taxes and over $300,000 in county taxes.
- Yonkers now has over 80,000 square feet in additional public open green space
The full report can be found here: https://goo.gl/rjxg6W
About Urban Land Institute Tri-State Land Use Council
The Tri-State Land Use Council (TSLUC) is a regional partnership between ULI’s New York, Westchester/Fairfield, and Northern New Jersey District Councils that provides elected and public officials with a nonpartisan platform for networking, learning, collaborating, and action addressing issues related to land use policy, urban and suburban growth, economic development, housing, transportation, and market trends. Participation is offered exclusively to mayors, city managers, and other appropriate elected representatives; as well as public officials in planning, economic development, housing, and transportation who serve within the Tri-State metro region. More information is available at: https://newyork.uli.org/uli-in-action/tri-state-land-use-council/