Joint Venture Launches Construction on Multifamily at Yonkers’ Ridge Hill Center

A joint venture of Saber-Hightower, Rafferty Real Estate and Eagle Realty Group has begun construction on The Ibex at Ridge Hill, a 17-story, 282-unit rental building at Ridge Hill, the open-air lifestyle center in Yonkers. Bank OZK is providing construction financing for the $140-million project.

The building will include 28 affordable units. First units are expected to be available in late 2028.

Designed by Beyer Blinder Belle, the building will be located directly adjacent to the Whole Foods Market on Ridge Hill’s Main Street. The project will also include 5,000 square feet of ground-floor retail and 423 resident parking spaces within Ridge Hill’s existing garage.

“We are excited to become an important part of this world-class mixed-use center,” said Greg Belew, managing principal of Saber-Hightower. “Our residents will have the ability to walk out the door and enjoy a wide variety of dining, shopping, and entertainment options.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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Haverford Square Portfolio
Philadelphia, PANew York & Tri-State + Apartment Buildings
Listing Status: Available
Listing Type: Highest & best offer
No. of Units: 172
Building Size: 123962 Sq ft
Opportunity Zone: No
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309-UNIT MULTI-ASSET RESIDENTIAL PORTFOLIO
Philadelphia, PANew York & Tri-State + Apartment Buildings
Listing Status: Available
Listing Type: Highest & best offer
Price: $40,200,000
No. of Units: 309
Year Built: 1940
Year Renovated: 2011
Building Size: 265293 Sq ft
Opportunity Zone: No
Price per unit: $130,097
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