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Saber-Hightower JV starts construction on 282-unit Yonkers rental
The $140 million project is financed by Bank OZK and includes 28 affordable units, with first deliveries expected in late 2028.
A joint venture led by Saber-Hightower, Rafferty Real Estate, and Eagle Realty Group has started construction on The Ibex at Ridge Hill in Yonkers, a 17-story rental building with 282 units, according to ConnectCRE.
Bank OZK is providing construction financing for the $140 million project, which will include 28 affordable units, the outlet said.
ConnectCRE also reported that the building will be designed by Beyer Blinder Belle, situated directly adjacent to the Whole Foods Market on Ridge Hill’s Main Street.
The project will include 5,000 square feet of ground-floor retail and 423 resident parking spaces within Ridge Hill’s existing garage, and first units are expected to be available in late 2028.