The True North Hotel Group will build a $25.5 million, 150-room Courtyard by Marriott in Yonkers’ South Westchester Executive Park off Executive Boulevard.
The Yonkers Industrial Development Agency approved tax breaks for the hotel Friday morning, including $994,000 in sales- and mortgage-tax exemptions; the YIDA also authorized a negotiation of a temporary property tax abatement.
The Courtyard by Marriott at 5 Executive Blvd. will be the third hotel at the executive park, where construction will begin later this year for a mid-2015 completion date.
“This new hotel will provide approximately 50 permanent jobs and add to our tax base, while adding little or no additional demand for local services,” said YIDA President Ken Jenkins.
Besides an estimated 50 full-time equivalent permanent jobs, the project will also create approximately 250 construction jobs during a 15-month period.
The new Marriott hotel will total 84,000 square feet, have 110 king suites, 40 double rooms, plus accessible units for people with disabilities. It will sit on a 2.9 acre undeveloped site. It will also have more than 3,000 square feet of meeting spaces, plus restaurant facilities