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Construction resumes at idle Yonkers pit
The following article appeared on the LoHud website on Oct 3, 2017. View the original article here.
Activity has resumed at a construction pit in Yonkers that remained unattended for a decade.
RMS Companies of Stamford, Connecticut, is building a rental apartment complex at 1073-1077 Warburton Ave., a property that has vexed two previous developers who pulled out or went bankrupt.
On Friday construction crews could be seen working at the site of a recently demolished home whose foundation was undermined by eroding dirt from the pit.
The former Velocity project at the site began around 2004, but an accident, landslides, bankruptcy, foreclosure and lawsuits halted work.
The Velocity was originally called the Millennium Tower, but a retaining wall collapse in 2004 caused then-developer Lalezarian Development Corp. of Long Island to halt construction. REMI Companies eventually bought the stalled project around 2007 and resumed work, but the recession, additional construction mishaps and bankruptcy stalled Velocity again.
With little progress, weather-induced erosion of the land caused the house at 1063 Warburton Ave. to become unstable. The owner of that house, Sheila Bishop, sued Velocity at Greystone in 2008 and in 2011 for being forced from her home.
Westchester County land records show that the developer acquired Bishop’s house at 1065 Warburton Ave. for $500,000.