From the News Desk of Brian Harrod.

 

SURPRISE: Ginsburg Cuts Back Plan For #Ludlow Development To Get Shovels In The Ground Before The Luxury Housing Bubble Collapses Under Rising Interest Rates

GINSBURH MOVING FORWARD: Ginsburg Development Companies (GDC) has submitted to #Yonkers a revised plan that would allow it to move forward on a six year old plan to build at 150 Downing Street.

BRIDGEWATER NORTH APARTMENTS: Instead of building two towers as previously proposed, #GDC is proposing to put up one in the first phase of the project.

YONKERS: GDC origionally called for two 11-story towers with a total of 520 apartments and need big time variances.

Now GDC is seeking to build a seven-story building over two levels of parking. It would have 131 one-bedroom units and 77 two-bedroom units for a total of 208 apartments.

There would be 229 parking spaces provided.

Originally GDC purchased 150 Downing Street for $3 million and agreed to make improvements to Anthony O’Boyle Memorial Park as part of the deal.

Previously the 2.26-acre site had been used by the Department of Public Works.

The Environmental Findings Statement that had been originally prepared covered up to 356 apartments in the project.

This gave each GDC apartment tower 178 units each.

This new plan, increases the number of apartments by 30 units and will also need approvals for an additional seventh story in the current proposal under review.

There will be a separate site plan application for the second building, which should not exceed 178 Units, but insiders say that GDC will be seeking variances for an additional 30 units....

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