(09/14/06) YONKERS - Yonkers officials celebrated the revival of the city's waterfront with a groundbreaking ceremony for new luxury apartments Thursday.

Hudson Park's second phase will include two towers, 12 and 14-stories, with a smaller building in between. Construction for the first phase of Hudson Park completed in 2003 and was hailed as a large step in reinvigorating the Yonkers riverfront. Planned for completion in 2008, the $110 million project will consist of 294 luxury rentals on the market for $1,800 to $3,000 per month. Developer Art Collins will receive tax incentives from the state and federal governments for building in Yonkers.

Along with the new apartments, the developer is spending $15 million on a riverfront park, according to the mayor. Developers say a new pedestrian bridge will also be built to connect Hudson Park to the train station, which is a 25-minute ride from Manhattan.