Officials from the City of Yonkers and Titan Real Estate Development recently broke ground on a new mixed-use community project, featuring apartments, retail space, and affordable housing.
Park Square Yonkers—located at 1 Loehr Place—will be 500,000 square feet, seven stories, and consist of 340 residential units (192 studio apartments and 148 one-bedrooms). Ten percent of the units will be deemed affordable. The $185 million development will also designate approximately 20,000 square feet to street-level retail space, which also includes 420 covered on-site parking spaces.
What to Expect
Long Island-based development company Titan Real Estate Development received approval for the project in 2024. The property—originally part of the Mulford Gardens Hope VI Revitalization project—had sat vacant for years and was transferred into the city’s possession in 2019. It was purchased by Titan last year.
Through its construction, Park Square is expected to create 200 jobs, as well as eight full- and part-time positions upon completion.
“Park Square was my promise and commitment to Yonkers five years ago, and today that promise is becoming reality through a $185 million investment in the city’s future,” says Titan principal owner, Mitchell Del Gias. “I firmly believe the best days for Titan and Yonkers are still ahead.”
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Inside Park Square
Residents at Park Square will have access to a 15,000-square-foot elevated private outdoor courtyard, a double-height fitness center, a business center with working stations, a luxury resident lounge, a pet spa, and several thousand square feet of dedicated resident storage in the building.
The property will also be aligned with a new Yonkers public school at development Grant Park. 800 students from pre-K to eighth grade are expected to be served, and community members will have access to amenities like a gym, library, and pool at night, on weekends, and during summers.
“Park Square is another example of Yonkers’ remarkable transformation and the momentum we’ve built together,” Yonkers Mayor Mike Spano says in a statement. “This development is about more than new buildings—it’s about creating opportunities for families, expanding access to quality housing, investing in education, and continuing to revitalize our neighborhoods.”
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“With a brand-new Yonkers public school as an anchor here, Park Square represents the kind of smart, thoughtful development that strengthens our community and prepares our city for the future,” Mayor Spano adds.
Construction of Park Square is expected to take 24 months.
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