YONKERS — U.S. Sen. Charles Schumer plans to call for millions of dollars in federal tax credits Wednesday for a project to restore and redevelop a crumbling brick power plant on the city’s waterfront.
Schumer says he’ll appear outside the long-vacant Glenwood Power Station near the Yonkers JFK Marina at 12:45 p.m. to lobby for increased federal support through New Markets Tax Credits from the Treasury Department and historic tax credits from the National Park Service.
Developer Glenwood POH plans to transform the century-old plant, which once generated electricity for Grand Central-bound trains, into a mixed-use convention center with hotels and restaurants.
The $200 million project is slated to open in 2016 and is estimated to create 1,800 construction jobs and 955 permanent ones.
Schumer says the additional federal support could help get construction started this year.
The Glenwood rehab is one of three Yonkers development projects receiving a $1 million boost from a regional council tasked with spurring economic development. That council has also awarded $2 million for developer Nicholas Sprayregen’s plan to remake five downtown properties into mixed-use spaces downtown.