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Yonkers Apartments

Yonkers, New York

Yonkers ApartmentYonkers Apartments is a Section 8 development for families with incomes at or below 60% of the regional median. Roizman purchased this 129-unit high rise from HUD at a property disposition sale, and a number of residents were temporarily relocated during the $13.3 million complete gut rehabilitation of the property. Roizman received a tax credit allocation from the NY Department of Housing and Community Renewal, and used three mortgages to finance the completion of the project, including a Community Development Block Grant from the City of Yonkers. Since re-opening, it has remained at 100% occupancy.

Yonkers ApartmentThe revitalization of the property involved extensive dialogue with the tenants, which lead to the creation of three committees that enabled residents to have input into the scope and character of the renovation. Parking was a major problem, and the company invested $500,000 into building's parking areas. The site management staff continues to meet twice monthly with the tenant association to seek input about areas of concern, and these meetings have lead to the formation of a thriving community that offers many resident-based activities, including an annual field trip and a midnight basketball league.

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