It was nearly eight years in the making, but the ribbon was cut Monday on the first of many new facilities slated to go up around Yankee Stadium.

Borough President Ruben Diaz Jr. gathered with members of the NYC Housing Development Corporation for the ceremony at 810 River Ave. The mixed-use facility includes 134 units on 17 stories, and will cater to low-, medium- and high-income families.

It marks the first completed project of the new Yankee Stadium rezoning plan.

Community leaders and stakeholders hope the project is the beginning of a revitalized capital district in the South Bronx.

"It was important not only that this individual project was successful, but that it set a tone that people understood what we were looking for along this strip and how we were moving forward in developing this corner of the Bronx -- and it has set a wonderful tone," says Diaz.

Diaz added that more than half of the apartments in the building will be rented by people from the Bronx.