Officials in Yonkers cut the ribbon today on a new luxury apartment complex.

Warburton Avenue is fast becoming the luxury residential destination in the city as another brand-new high-rise overlooking the Hudson River is now open.

Yonkers Mayor Mike Spano was joined by other local leaders and the developer of the project in cutting the ribbon on the luxury building called "Stratus on Hudson." The nine-story, 74-unit building near the Greystone train station boasts breathtaking views of the Hudson River and the soaring cliffs of the Palisades.

Connecticut-based RMS Companies took on the project after it was abandoned by two other developers.

The units all have modern appliances and the building's amenities include a gym, common area, and a rooftop deck.

Stratus is one of several luxury buildings that have gone up on Warburton Avenue in the past two years, and Mayor Spano says he knows why developers are flocking to this area. "There are number of railroad facilities that are right here along the water's edge, the views are spectacular. You see the Hudson River, you see the Palisades. Good positive reasons for people to live here in north Yonkers."

Tenants have already started to move into the building. Rent starts at $2,500 a month for a one-bedroom unit to nearly $5,000 for a two-bedroom unit.

Developers have also built luxury rentals at 1133 and 1177 Warburton Ave.