Westchester’s nonprofit developer Westhab recently topped off their latest project Dayspring Commons at 227 Elm Street in Yonkers. Located in the Nodine Hill neighborhood, the 65-unit residential building will offer affordable and supportive housing to the area. Last week a small gathering that included Yonkers mayor Mike Spano and Westhab president and CEO Rich Nightingale marked the completion of the Dayspring Commons edifice.
“Westhab is elated to see the Dayspring vision become a reality. Dayspring represents the culmination of years of community development work, and we can’t wait to open our doors and watch the Nodine Hill community soar to new heights,” said Westhab President and CEO Rich Nightingale. “I also want to express our gratitude to Governor Cuomo and his team at HCR as well as all of the other government officials and private individuals whose dedication and commitment made this day possible.”
The development is part of a larger project to renovate the former Good Shepherd Presbyterian Church building adjacent to the construction site into the Dayspring Community Center. The Community Center will feature a range of services including comprehensive youth and adult education programs, year-round after school and summer youth programming, vocational training and employment counseling, family programming, a food pantry, and more.
Financing for Dayspring includes $7.1 million from New York State in permanent tax-exempt bonds, federal Low-Income Housing Tax Credits that will generate $15.2 million in equity, and a $13.5 million subsidy from New York State Homes and Community Renewal. Additionally the Empire State Supportive Housing Initiative is funding services and rental subsidies for 37 formerly homeless families who will live at Dayspring Commons, including 25 young parents and their children. Westchester County contributed $1.8 million from the New Lands Acquisition Fund, and the City of Yonkers provided more than $1 million to the project. Westhab has raised more than $3 million from individuals in the community.
source: newyorkyimby.com
