Gateway Realty and STH Associates Hold Grand Opening Extravaganza at The Homes at Greenvale in Yonkers on August 25

YONKERS, N.Y., Aug. 21, 2013 /PRNewswire-iReach/ -- Gateway Realty and STH Associates are celebrating the Grand Opening of the newest single family home development in the City of Yonkers – The Homes at Greenvale – on Sunday, August 25 from 11 a.m. to 5 p.m.  The new development, located at 167 Greenvale Avenue in Yonkers, will feature luxuriously appointed homes on spacious lots; the model home will be unveiled following a ribbon-cutting ceremony at 11:00 a.m.

(Photo: http://photos.prnewswire.com/prnh/20130821/MN67070)

Radio station 103.9, WFAS, will be remotely broadcasting live and running a prize wheel for guests.

"This will be a community event with a barbecue, and children's entertainment and prizes," said Chirag Shah, owner of Gateway Realty. Shah coordinated the event, organized the barbecue and hand-delivered more than 200 personal invitations to local residents. "Everyone is welcome to come join the fun and tour the model. This is basically an all-day event, and we're looking forward to a great turnout."

The Homes at Greenvale development is expected to generate more than $200,000 in potential tax revenue for the City of Yonkers. The additional tax revenues may offset some of the pressures the local government has faced since 2008 and help close budget gaps in the most vital areas. By investing private funds in excess of $10 million, STH Associates will create an influx of cash for the local economy through land acquisition, construction costs, street improvements and infrastructure costs.

Homebuyers will have their choice of finishes in countertops, flooring and other home accents. Gateway Realty also offers an experienced interior decorator to assist homebuyers and local suppliers will provide necessities such as lumber, paint, shingles and more.  

"New construction is on an upswing now that the economy is starting to turn around. We're starting to see the kind of growth we expect, and we're comfortable building because the area is growing," said John Michael DeGenarro. His company, DeGenarro Construction, is managing the development.

"The city's median home value is over $450,000," said Steven Breznicky, a Wells Fargo home mortgage consultant who routinely finances newly constructed homes such as those at The Homes at Greenvale.

"New homes going up – that's a clear sign that the local economy and the housing market are making positive strides. This development shows that people are willing to invest in Yonkers, and they see the value of the community here," added Breznicky. "Wells Fargo is prepared to help potential homebuyers secure the financing they need to move their families into The Homes at Greenvale through a program that lets people lock in today's interest rates for six months."

The model will be open for public viewing from 11 a.m. to 5 p.m. The development is slated to be completed by 2015.

Media Contact: Chiag Shah, Gateway Realty Corp. of New York, (914)341-1203, chirag@gatewayrealtyteam.com

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SOURCE Gateway Realty Corp. of New York