westfaironline.com March 6, 2023
MACQUESTEN PROPOSING 16-STORY AFFORDABLE APARTMENT BUILDING IN YONKERS
and contain 160 apartments. The property at 632-636 S. Broadway is located at the corner of South Broadway and Caryl Avenue. There currently is a one-story building there, which is used as a sports training facility. It previously had been used as an automobile dealership and then as a furniture store. The building would be torn down. According to Diana B. Kolev of the White Plains-based law firm DelBello Donnellan Weingarten Wise & Wiederkehr LLP, Macquesten has a portfolio of more than $140 million in completed projects with an anticipated $250 million in projects in the pipeline expected to be completed in the next five years throughout New York City and Westchester. Kolev said that the development site is about 0.32-acre in size, north of the border with Riverdale and Van Cortlandt Park. She said that it is in the South Broadway District that was adopted in the city’s Zoning Ordinance in 2011 to replace the B and BR Zoning Districts in the South Broadway corridor. The newer district allowed increased height and density. The Parker would have eight studio apartments, 75 one-bedroom units, 57 two-bedroom units and 20 three-bedroom apartments. Amenities for residents would include a fitness center and laundry facility.
BY PETER KATZ Pkatz@westfairinc.com Macquesten Development LLC is expected to go before the Yonkers Planning Board on March 8 with a proposal for a multifamily residential building at 632-636 S. Broadway, near the Yonkers border with Riverdale. All of the apartments in the building would be priced in the affordable category. The building would be known as The Parker. Macquesten is presenting the application through a related entity, 636 S. Broadway Partners LLC. Macquesten Development LLC was formed in 2003 by Rella Fogliano along with Macquesten Construction Management LLC. She serves as the organization’s CEO. The companies are headquartered in Pelham. In 1988, Rella Fogliano had founded Macquesten General Contracting Inc., following the retirement of her father Sabino Fogliano. She had worked fulltime for his construction company since her 1983 graduation from Fordham University. The Parker would be 16 stories
Rendering of Macquesten’s The Parker in Yonkers.
MACQUESTEN
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Pacific overtures: Building a trade connection between Connecticut and Japan BY PHIL HALL Phall@westfairinc.com
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apan’s import-export market was in the spotlight of the recent Connecticut Business & Industry Association (CBIA) webinar “Unlocking Japanese FDI & Trade Opportunities.” Jeff Hubbard, market president for Liberty Bank, opened
the webinar by noting Japan was the largest foreign direct investor in the U.S., adding that the country is “playing a major role in economics, capital investments, employment and increasing U.S. merchandise exports. Japanese total direct investment in the U.S. hit a record in 2020 at $679 billion, including $310 billion in the manufacturing sector.” Hubbard also pointed out
that Japanese investment in the U.S. was responsible for almost 1 million American jobs while Japan was both the fourth-largest trading partner for the U.S. and one of top 10 export markets for Connecticut-made goods. Hubbard was followed with brief appearances by Kotaro Suzuki, Japan’s Consul General in Boston, and Kenichi Kawamoto, president of the New York
office of Japan External Trade Organization (JETRO), a government agency. Suzuki noted that his office represented Japanese interests in the New England states while Kawamoto recalled a 2021 presentation that JETRO made in Hartford to foster an interest in Japan among Connecticut’s business community. Daiki Nakajima, director of business development at JETRO
New York, occupied the lion’s share of the Japanese representation in the webinar. He highlighted findings of the 2022 JETRO Survey on Business Conditions for Japanese Companies Operating Overseas, which polled 787 out of 1,841 Japanese companies now operating in the U.S. Nakajimi acknowledged the economic difficulties on both sides of the
PACIFIC OVERTURES
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