Saber-Hightower Secures $135 Million for Yonkers Project
The development firm is building a 17-story apartment complex at 1 Ridge Hill Boulevard.
Updated on Oct. 29, 2026 in Commercial
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Saber-Hightower has secured $135 million in financing to construct The Ibex at Ridge Hill in Yonkers, New York. This 17-story building will feature 282 total residential units.
Why it matters
The financing package supports the addition of new housing stock in Yonkers, located just 20 miles north of Midtown Manhattan. The project includes a commitment to both market-rate and affordable housing options.
The development includes 254 market-rate apartments and 28 affordable units. The site provides 423 resident parking spaces to serve the 17-story high-rise.
The players
Saber-Hightower
The real estate development firm is leading the construction of the apartment project in Yonkers.
Bank OZK
The bank provided the $92 million construction loan for the development.
Eagle Realty Group
The investment firm provided $43 million in limited partner equity to fund the construction.
JLL
The professional services firm acted as the negotiator for the financing package.
Beyer Blinder Belle
This architecture firm served as a lead designer for the 17-story residential project.
The details
JLL negotiated the financing, which consists of a $92 million construction loan from Bank OZK and $43 million in equity from Eagle Realty Group. Designed by Beyer Blinder Belle and ESG | Architecture & Design, the property will offer residents amenities such as a swimming pool, fitness center, and coworking space.
Timeline
Construction on the building commenced in October 2026.
The project is currently scheduled for completion in 2028.
Culture Shift
This development reflects the broader trend of suburban densification occurring in transit-adjacent corridors outside of New York City. The project follows the pattern of large-scale residential growth that repurposes land in Westchester County to accommodate regional housing demand.
Residents in the area can expect increased construction activity at the 1 Ridge Hill Boulevard site through 2028. The project will eventually add 282 residential units to the local housing market in Yonkers.
The takeaway
Large-scale residential projects like The Ibex at Ridge Hill represent the continued growth of high-density living options in Westchester County. Prospective renters should keep an eye on upcoming leasing announcements as the 2028 completion date approaches.
What happens next
Construction is expected to conclude in 2028, at which point the building will open for resident move-ins.
Further reading
Learn more about the latest developments in the Yonkers Commercial sector.
Source note: This article includes information reported by Commercial Observer.
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