Goren Group seeks partners for $150M conversion of NY plant

Abandoned Yonkers buildings to be transformed into art event center

New York /
Jun.June 03, 2014 04:00 PM

Developer Lela Goren of the Goren Group is looking for equity partners for the $150 million conversion of a former power plant in Yonkers into an art exhibition center called the PowerHouse.

The project is set to occur in several phases, the New York Times reported. The $70 million first round started next year and could wrap in three years. The Westchester County site has been thoroughly cleaned. The $80 million second phase might last up to 10 years, and would establish a 90-room hotel, 22-slip marina and a few eateries. Some Yonkers residents oppose plans to construct a two-story parking garage near the Metro-North train station and a park.

The Glenwood power plant buildings span 165,000 square feet across four acres. Graffiti-covered walls, four floor-mounted rotaries and other remnants of the original facility are expected to stay. [NYT]Mark Maurer


Related Articles

arrow_forward_ios
North American Properties' Tim Perry; Nuveen's Nadir Settles; Taconic Partners' Chris Balestra and Ridge Hill at Yonkers (Flickr, iStock, NAP, Nuveen, Taconic Partners)
Developers snatch up Yonkers shopping center for $220M
Developers snatch up Yonkers shopping center for $220M
More contracts signed in the city for more expensive homes (iStock)
Manhattan condo signings jump 65% in November, led by priciest homes
Manhattan condo signings jump 65% in November, led by priciest homes
(Unsplash / Andre Benz)
New listings rise in Manhattan and Brooklyn, but fail to meet fierce demand
New listings rise in Manhattan and Brooklyn, but fail to meet fierce demand
The office space at 99 Church Street  (Google Maps)
Berkeley College selling two downtown White Plains buildings
Berkeley College selling two downtown White Plains buildings
eXp CEO Glenn Sanford and Corofy CEO Eddy Boccara (eXp, Corofy, iStock)
Some like it hot: Influx of agents into Hudson Valley accelerates in September
Some like it hot: Influx of agents into Hudson Valley accelerates in September
MacQuestion Development CEO Rella Fogliano, 32/36/38 Main Street in Yonkers (Google Maps, Getty)
Despite hurdles, developer plans 10-story affordable housing complex in Yonkers
Despite hurdles, developer plans 10-story affordable housing complex in Yonkers
Trump Plaza New Rochelle at 175 Huguenot Street and Donald Trump (Getty, Anthony22/Wikimedia)
Trump Plaza New Rochelle dumps Trump Org as property manager
Trump Plaza New Rochelle dumps Trump Org as property manager
Parc Grove apartments, PGIM CEO David Hunt and Pacific Urban Residential CEO Al Pace (Photos via Parc Grove, PGIM, RETCON)
PGIM gets $154M for Stamford apartments as rental market heats up
PGIM gets $154M for Stamford apartments as rental market heats up
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...