A joint venture comprising Saber-Hightower, Rafferty Real Estate and Eagle Realty Group has started construction on The Ibex at Ridge Hill, a new multifamily tower planned within the Ridge Hill open-air lifestyle center in Yonkers. The venture has secured construction financing from Bank OZK for the $140 million project, positioning the development as a notable new residential component at the existing retail-focused destination.
The Ibex at Ridge Hill is planned as a 17-story rental building totaling 282 apartments. Of the overall unit count, 28 residences are designated as affordable units, adding an income-restricted component to the project's housing mix. The development team expects the first apartments to be available for residents in late 2028, marking the anticipated initial delivery timeline for the property.
The new building has been designed by architecture firm Beyer Blinder Belle. It is slated to rise directly adjacent to the Whole Foods Market on Ridge Hill's Main Street, integrating the multifamily component into one of the center's primary retail corridors. The location places future residents within immediate walking distance of existing shopping, dining and entertainment options already operating at Ridge Hill.
Plans for The Ibex at Ridge Hill also include a ground-floor retail component and structured parking. The project program calls for approximately 5,000 square feet of retail space at the base of the building, creating additional storefront frontage along the Main Street environment. Residential parking for 423 vehicles will be accommodated within Ridge Hill's existing garage, rather than in a standalone structure dedicated solely to the new tower.
Greg Belew, managing principal of Saber-Hightower, said the team views the project as an opportunity to integrate new housing into a mixed-use setting that already offers a range of consumer amenities. He noted that residents will have the ability to step directly outside and access the center's collection of dining, shopping and entertainment venues, underscoring the project's emphasis on walkability within the established Ridge Hill environment.
