{"id":1004050450,"date":"2012-08-24T09:57:53","date_gmt":"2012-08-24T17:57:53","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=64861"},"modified":"2020-04-02T05:58:04","modified_gmt":"2020-04-02T13:58:04","slug":"22m-mixed-use-development-to-break-ground-in-downtown-yonkers-valuation-expert-steven-kurtz-joins-avison-young-as-principal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/22m-mixed-use-development-to-break-ground-in-downtown-yonkers-valuation-expert-steven-kurtz-joins-avison-young-as-principal\/","title":{"rendered":"$22M Mixed-Use Development to Break Ground in Downtown Yonkers; Valuation Expert Steven Kurtz Joins Avison Young as Principal"},"content":{"rendered":"<p style=\"text-align: justify;\">By Veronica Grecu, Associate Editor<\/p>\n<p style=\"text-align: justify;\">Development company Rising Development recently got the green light from the Yonkers Industrial Development Agency (YIDA) to go on with a $22 million project that would transform five properties in the downtown area into residential, retail and restaurant space. According to <em>LoHud.com<\/em>, YIDA has granted more than $500,000 in tax exemptions on mortgage and building materials used for the project, which aims to revitalize the city\u2019s downtown and waterfront and attract further developers in the area.<\/p>\n<p style=\"text-align: justify;\">It is estimated that the project will create nearly 135 permanent jobs. The five properties,<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/08\/developer-nicholas-sprayregen.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-64864\" title=\"developer nicholas sprayregen\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/08\/developer-nicholas-sprayregen.jpg\" alt=\"\" width=\"200\" height=\"300\" \/><\/a> located along Mill Street and Main Street and owned by Nicholas Sprayregen (pictured to the right) of Rising Development, will be the first phase of the planned Yonkers Rising construction development, which has been tentatively dubbed the Mill Street Courtyard project. As revealed in the official statement, over the next two years they will be transformed as follows:<\/p>\n<p style=\"text-align: justify;\">&#8211;\u00a0 27 Main Street will become a 7,000-square-foot structure to serve retail and restaurant uses<\/p>\n<p style=\"text-align: justify;\">&#8211;\u00a0 13 Main Street and the adjacent 2 Mill Street will become 25,000 square feet of live\/work lofts, plus 6,000 square feet of retail space<\/p>\n<p style=\"text-align: justify;\">&#8211;\u00a0 36 and 38 Main Street will feature 15 live\/work lofts on the upper floors and 4,000 square feet of ground floor retail space and a caf\u00e9<\/p>\n<p style=\"text-align: justify;\">Apart from these, a vacant building located at 24 Warburton Ave. will be replaced by a pedestrian passage that will link the Larkin Plaza park with the Mill Street courtyard.<\/p>\n<p style=\"text-align: justify;\">In commercial real estate news, Avison Young announced last week that valuation expert Steven J. Kurtz (pictured) has joined the company\u2019s New York City office as a principal, effective immediately. Kurtz, 45, is an industry veteran with 20 years of experience; he will focus on Avison Young\u2019s valuation advisory services in the areas of valuation for financial reporting, litigation support, periodic valuations, portfolio analysis, cost-segregation studies, business combinations and standard appraisals.<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/08\/AY-Kurts.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-64865\" title=\"AY-Kurts\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/08\/AY-Kurts.jpg\" alt=\"\" width=\"212\" height=\"300\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Prior to joining Avison Young, Kurtz was the founder and Managing Director of Kurtz Realty Consulting in New Jersey, where he dealt with business development, client service and deliverables, while focusing on valuation for financial reporting. His notable achievements include the appraisal of Union Station in Washington, D.C., Faneuil Hall in Boston and General Motors&#8217; legacy portfolio, which consists of 32 plants totaling more than 40 million square feet across the country.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-vacancies-and-rents-at-extremes-in-manhattan-new-development-slowly-materializes\/1004058091.html\" target=\"_blank\" rel=\"nofollow\"><strong>Click here<\/strong><\/a> for more market data on New York City.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Development company Rising Development recently got the green light from the Yonkers Industrial Development Agency (YIDA) to go on with a $22 million project that would transform five properties in the downtown area into residential, retail and restaurant space. According to LoHud.com, YIDA has granted more than $500,000 in tax exemptions on mortgage and building materials used for the project, which aims to revitalize the city&rsquo;s downtown and waterfront and attract further developers in the area.<\/p>\n","protected":false},"author":1269,"featured_media":1004506031,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1600,21742],"tags":[1815],"class_list":["post-1004050450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-york","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>$22M Mixed-Use Development to Break Ground in Downtown Yonkers; Valuation Expert Steven Kurtz Joins Avison Young as Principal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/22m-mixed-use-development-to-break-ground-in-downtown-yonkers-valuation-expert-steven-kurtz-joins-avison-young-as-principal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$22M Mixed-Use Development to Break Ground in Downtown Yonkers; Valuation Expert Steven Kurtz Joins Avison Young as Principal\" \/>\n<meta property=\"og:description\" content=\"Development company Rising Development recently got the green light from the Yonkers Industrial Development Agency (YIDA) to go on with a $22 million project that would transform five properties in the downtown area into residential, retail and restaurant space. 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