Jackson Terrace Apartments is a 181-unit apartment complex located in the City of Yonkers, New York. The property consists of a 1.29-acre parcel improved with an eleven-story, L-shaped building with an attached garage.
Upon acquisition of the property, Marathon embarked on a thorough renovation, which included repairing the garages, replacing the existing roofing system, upgrading the mechanical systems to improve energy efficiency, renovating the lower level former daycare space, refurbishing the corridors and common areas, and remodeling the lobby and entrance. Individual units received new energy efficient appliances with the addition of microwaves and dishwashers, as well as new cabinets, countertops, bathroom fixtures, flooring and new lighting and electrical devices. The project featured a number of attractive on-site amenities, including two secure parking garages, the installation of a new video intercom system, hard-wired smoke and carbon monoxide detectors, a new fire alarm system, and an emergency generator.
Marathon also designed a computer and community center for CLUSTER Community Services, a local non-profit that runs their “CLUSTER Super School Program” out of the Jackson Terrace Building. The Super School After-School program, which serves local children ages 5-13 years, provides students with after-school homework assistance and educational enrichment in a safe, supervised environment. Marathon Development Group has been providing space for the program since 2011.
In January of 2013, Marathon donated office space at Jackson Terrace for the Dominican Culture Association’s student art program, which provides students ages six to fifteen with art classes on Thursday and Friday afternoons.
Location: Yonkers, New York
Total Development Cost
- $24 million
Completion
- 2004
Financing Highlights
- $6,150,00 syndication of 4% LIHTC
- $16,400,00 in bonds issued through the Yonkers Industrial Development Agency
Green Building
- Comprehensive Energy Audit
- Air sealing & rooftop blown insulation
- Energy Star fixtures & efficient appliances
- LED exit signs
- Water conserving fixtures & laundry equipment
- New heating plant, wireless temperature sensors & distribution upgrades
- High Efficiency roof fans
- Steam trap replacement