The Real Deal New York

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

Abandoned Yonkers buildings to be transformed into art event center
June 03, 2014 04:00PM

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