Ridge Hill Mall Explained

Ridge Hill
Location:Yonkers, New York
Address:1 Ridge Hill Boulevard
Opening Date:October 20, 2011
Developer:Forest City Enterprises
Manager:QIC Global Real Estate
Owner:Queensland Investment Corporation
Number Of Stores:50
Number Of Anchors:6
Floor Area:1.3e6sqft
Floors:2 with partial 3rd floor and basement
Parking:4,700 spaces (5 parking garages, 1 outdoor lot, and valet service)

Ridge Hill, formerly known as Westchester's Ridge Hill is a mixed-use lifestyle center located between Interstate 87 and the Sprain Brook Parkway in Yonkers, New York. With its grand opening in 2011, Ridge Hill features a variety of retail stores, restaurants, condominiums, and offices. It was developed by Forest City Ratner Companies, Forest City's New York subsidiary. The center was built on an 84-acre parcel of land purchased from the City of Yonkers.[1] Forest City later sold its mall business to Queensland Investment Corporation.[2]

History

The Yonkers Industrial Development Agency began planning the center in 2000 to develop a site and stimulate job growth. Prior to any development, the land was occupied by a sanitarium, hospital, church, and rehab center. After later granting a lease to Lockheed Martin, and when the lack of jobs continued, the lease was terminated by purchasing the remainder of the contract. The City of Yonkers began taking bids from developers, and Ridge Hill won the contract. Original tenants announced included Whole Foods Market and L.L.Bean.[3] Saks Fifth Avenue also showed an interest in adding a location in Yonkers.[4]

In early 2007, the land was cleared to make way for Ridge Hill's construction. Construction formally broke ground on November 8, 2007, with an original projected completion date in 2009. However, in late 2009, Forest City stated that due to the economic recession, the anticipated completion would be pushed back until 2011.[5]

On November 18, 2010, it was announced that six additional companies would be joining the list of tenants: Dick's Sporting Goods, Brio Tuscan Grille, and REI.[6] Later, on December 3, Forest City announced that Lord & Taylor would anchor Westchester's Ridge Hill with an 80000square feet contemporary location.[7] That same year, Saks Fifth Avenue stated that it would not add a location at Ridge Hill.[8]

On March 26, 2013, a new $12 million, 32300square feet Legoland Discovery Center was opened. It was the first Legoland in the Northeast and fifth in the country.[9]

On November 19, 2014, it was announced that eight stores would be arriving at Ridge Hill including Starbucks and The Container Store.[10]

On August 27, 2020, it was announced that upscale specialty department store retailer Lord & Taylor would shutter its traditional brick and mortar format as a direct result of the COVID-19 pandemic.[11]

On May 6, 2022, it was announced that Ridge Hill had been acquired in a joint venture between Nuveen Real Estate, Taconic Partners, and North American Properties for $220 Million. The plan is to update the complex's appearance and attract other luxury and fitness retailers as well as dining and entertainment options.[12]

Anchors

Anchors include:[13]

Notes and References

  1. News: Sheftell. Jason. June 17, 2011. City on the Hill: "New Urbanism" in Yonkers. New York Daily News. April 2, 2022. subscription.
  2. https://www.bizjournals.com/newyork/news/2022/05/05/ridge-hill-yonkers-sold-for-220-million.html
  3. Forest City Ratner Companies Breaks Ground on Ridge Hill in Yonkers. November 28, 2007. Forest City Enterprises. BusinessWire. 25 December 2014. 29 December 2014. https://web.archive.org/web/20141229190705/http://www.businesswire.com/news/home/20071128006133/en/Forest-City-Ratner-Companies-Breaks-Ground-Ridge#.VJt99F4BQ. dead.
  4. News: Aris. Hezi. Saks Fifth Avenue to Anchor Ridge Hill. Yonkers Tribune. May 21, 2019. April 2, 2022.
  5. News: Brenner. Elsa. Coming Soon: A Town Within a City. The New York Times. June 2, 2011. April 2, 2022. subscription.
  6. Web site: Forest City Announces Six Additional Major Tenants For Westchester's Ridge Hill. Forest City Enterprises. PR Newswire. November 18, 2010. April 2, 2022.
  7. New Lord & Taylor Store To Anchor Westchester's Ridge Hill. Forest City Enterprises. PR Newswire. April 2, 2022.
  8. News: Morris. Keiko. Shopping Center Coveting Leases in Yonkers. The Wall Street Journal. 29 December 2014.
  9. News: Legoland Opens At Ridge Hill Mall In Yonkers. WCBS News. March 27, 2013. April 2, 2022.
  10. News: Garcia. Ernie. Westchester's Ridge Hill announces 8 new stores. November 19, 2019. The Journal News. White Plains. April 2, 2022.
  11. News: Lord & Taylor is permanently closing 24 of its locations after filing for bankruptcy. See if your local store is on the list.. Bethany. Biron. August 20, 2020. Business Insider. April 2, 2022.
  12. News: Moss. Linda. Nuveen, Taconic and North American Properties Make $220 Million Bet on Repositioning Yonkers, New York, Mall. May 6, 2022. CoStar. May 9, 2022.
  13. Web site: Properties. Forest City Enterprises. 24 December 2014. 29 December 2014. https://web.archive.org/web/20141229184414/http://www.forestcity.net/properties/shop/regional_lifestyle_centers/Pages/westchesters_ridge_hill.aspx. dead.