Monthly Column by Steve Sansone
The Yonkers Downtown has been undergoing changes over the past two years
that augur well for its future. Interestingly, they have come about during the great
recession, a time of belt tightening for both businesses and individuals. One of
the affects of the recession—the decline of home mortgages— has actually
benefitted the area. For example, some young couples who were thinking about
taking out a mortgage to buy a home or condo, prefer to rent and have been
flocking to the Yonkers Downtown where there has been a significant uptick in
the demand for the new luxury rental apartments along the waterfront and Main
Street. Renting in the Yonkers Downtown is less expensive than in Manhattan
and offers renters more in terms of space and a host of other amenities. It’s no
surprise that these units are nearly 100% rented.
There are several reasons why living in Yonkers Downtown has become
increasingly appealing. First, it is in close proximity to Manhattan where the
majority of the renters work, a 17-minute ride from the Yonkers Metro North
Station and a few minutes stroll to and from the station as well as to
neighborhood restaurants and shops. Many of the new residents are couples in
their 30s who have started families. They work in the financial, accounting and
other professional services. Some work from home.
Second, the Yonkers Downtown has emerged as an exciting destination for great
dining and shopping. In the past year alone, new restaurants such as Dolphin by
the waterfront and the Undisputed Sports Bar & Grill and Paxos Grill & Café on
Main Street have opened, adding to an already exciting array of choices to
satisfy every palette and offer great value. Some of those restaurants have also
become part of a new night scene, offering patrons live jazz, county, rock n roll
and Latin music performed by top-notch artists. They are all part of a growing
trend where music is proving to be a big draw for visitors and residents.
Third, Yonkers Downtown abounds with a wide and growing choice of retail,
food, specialty and boutique stores, fitness and other health and wellness center
as well as access to banking and other professional services. One of the
attractions of living in an urban setting like Yonkers Downtown is that storefronts
are within walking distance of each other. It’s easy for shoppers to make a day of
it, stopping along the way for a snack or meal.
Fourth, at a time when people have been watching their wallets for leisure time
activities, the Yonkers Downtown BID’s free signature events have drawn record
crowds. That was very apparent last year by the amazing attendance at the
annual Jazz & Blues Concert Series, Riverfest, Main Street Film Series,
Evolution Arts and Half Moon Festival as well as at other events the BID
sponsors. The enormous popularity of these events has helped merchants as
visitors typically patronize area restaurants and stores before and after attending
the offerings.
Finally, in spite of the recession, a record number of new businesses opened
over the past year, averaging one per month since last spring and there are more
on the way, bringing new vitality and a source for new jobs. The owners, most of
whom are Yonkers natives, share something in common: they believe in the
future of Yonkers Downtown as a destination where they can succeed and one
that holds great promise as the economy recovers. To learn more about what the
Yonkers Downtown has to offer, please visit www.YonkersDowntown.com.