A long vacant property known as Chicken Island in Yonkers has been purchased by AMS Acquisitions for $16 million.

The area that many call an eyesore is located between Palisade and Nepperhan avenues.

AMS Acquisitions unveiled a comprehensive plan Monday for profitable businesses, affordable living and even a luxury hotel.

"Business people are coming into Yonkers from all across the region. They see that Yonkers is a place to invest, and they're making those investments and we're hoping that continues, it’s great for our city,” says Mayor Mike Spano.

Yonkers City Council Member John Rubbo is one of those business people who invested in the downtown area. He opened the Yonkers Brewing Company and says this purchase is a promising sign others are following his lead.

"It sort of validates what we've invested in and our vision along with so many of the other businesses in the downtown. Zoomba, x20, the Pizza Place and The Dolphin,” he says.

The roughly 6 acres of land got its name because it used to be an island floating in the Saw Mill River. During the 1840s, a farmer occupied the land in downtown Yonkers where he penned in a group of feathered fowl, hence the name Chicken Island.

Chicken Island isn't the first Yonkers venture for AMS. It has invested in several successful developments along the waterfront.