Yonkers waterfront getting a facelift.

Yonkers, in the argot of city planning, is an "edge city" on the eastern bank of the Hudson River. As charming as Yonkers' waterfront is, however, it was historically a blighted area of the city for the better part of the 20th century. But developer Arthur Collins II is convinced that the future of this waterfront has never looked so bright -- and he's not alone.

"We've been interested in the waterfront here for a long time," said Collins, whose privately held company, Collins Enterprises, is based in Connecticut. "The state of the waterfront was and still is pretty poor."

Poor, but improving quickly. With more than $150 million worth of public and private funds in place beyond what Collins has invested, the revival of downtown Yonkers may be ready to begin in force.

At the heart of Collins's strategy is a back-to-the-future mentality. These areas once thrived back in the days when ferries regularly plied the Hudson. After the trains and highways were built, the waterfronts of many river towns went into a sharp decline. Collins believes that ferries will return as the capacity of Metro-North passengers continues to rise. Also, the growth of residential areas on the waterfront will lure the ferries back, he predicts.

"The amenities have to keep up with the residential development," he said. "And I'm confident that Yonkers will continue to grow."

And City officials share his enthusiasm.

"The economy is the best it has been in years," said Phil Amicone, the deputy Mayor of Yonkers. "The city is clearly turning around. Collins has picked a great spot to build. His investment is a clear sign to other private sector investors that the climate is right for business here." A soaring economy in New York City has also contributed to making Yonkers a lucrative area to build affordable real estate.

"Look at what people are paying on Silicon Alley," said Ed Sheeran, special assistant to the Mayor. "Our prices are very affordable right now." And the wiring isn't bad either; Qwest Communications recently purchased space, and Sheeran said he's received inquiries from several technology firms in recent months.

As for Collins' plans, the The "Hudson Park at Yonkers" will feature a residential building with 40 apartments, 20 townhouses, 180 rental apartments, 17,000 SF of retail space and 28,000 SF of professional office space. Collins will also exercise an option to develop any remaining parcels for a total buildout of more than one million square feet of new construction. The price tag is estimated to be $150 million, and work is expected to begin later on this year.

It is a hugely ambitious project that relies, to a certain extent, on the city catching up. "We are concerned that the city get the cultural amenities while we are building," said Collins. "It must be simultaneous."

Thus, the development must be part of a bigger picture in Yonkers, a domino effect that brings new restaurants, a renovated esplanade and other recreational elements to bear on the residential framework. These include a already-completed $2.7 million restoration of the Yonkers pier, $5 million in street improvements around the site and a proposal to renovate the Yonkers library. All of this follows Collins's theory that commuters, who spend hours every day en route, demand a quality of life that justifies living a good distance from Manhattan, and they don't want to spend unneccesary time getting to and from the train station.

This formula -- high-end residential buildings adjacent to the point of departure -- is so simple it is almost obvious, especially now as the inflated real estate market in Manhattan forces people to live in edge cities like Yonkers.

"The city is turning around," said Amicone. "And a number of things have to happen in order for Collins' projects to work. I believe they will happen." Amicone predicts that work will begin this December on a number of projects. As for Collins, he is already discussing the completion of his project and thinking about repercussions, like an overloaded Metro-North system.

"By 2002, we hope to have completed the Hudson Park at Yonkers. Our hope is that Metro-North will keep up with the pace of development," said Collins. According to Amicone, Metro North will invest $35 million in the Yonkers station. A 600-car parking garage financed by the city of Yonkers will also be built near the station.

Since the Yonkers waterfront was once a thriving area, Collins will be building over many unused sites which provide exisiting infrastructure.

"In any city in this country, ten to fifteen percent of the buildings are vacant, industrial and empty lots. Here's where you have redevelopment options and a structure for economic development," said Collins. "And there's no need to chop trees down. We call it 'in fill' strategy." His record on other waterfront projects is impressive, lending credibility to a hugely ambitious vision of a revitalized Yonkers. And no bureaucratic obstacles appear to be standing in Collins's way.

"We've had virtually no opposition to any projects in Yonkers," said Collins, as if he knew all along that this project would be embraced. "The city government knows it is in everyone's best interest to revitalize the downtown area." His enthusiasm appears to be contagious in Yonkers. As the economy continues to boom in the New York City environs, his formula will likely be adopted by even more edge cities.