MOUNT VERNON, NY — June 2, 2017 — Mayor Richard Thomas on Friday, June 2, 2017, joined by several major developers, announced a series of major projects coming to the City of Mount Vernon. Joe Simone, Simone Development; Carlton Brown, Direct Investment Development; Mark Alexander, The Alexander Group; Sam Mermelstein, Enclave Equities; and L’Judie Simmons. Former Obama appointee and Executive Director of the Mount Vernon Industrial Development Agency, Stacey Brayboy was also in attendance at the press conference.
The catalyst that brought about Friday’s announcement is Governor Andrew Cuomo initiative in which he has dedicated $2.5 billion in funds for housing that has made market-rate projects attractive to investors. Several developers are moving forward with projects that will begin between the next 90 to 120 days that will resuscitate the Mount Vernon economy, creating jobs, and initiating a much anticipated spurt in the city’s quality of life prospects.
Enclave Equities, a Sam Mermelstein project is a 179 units, market rate, transit oriented development that will be situated at
525 and 645 MacQuesten Parkway. The $48 million undertaking will be comprised in a cluster of five, 5-story apartment buildings.
42 Broad Street, a Mark Alexander project, part of the Alexander Development Group/Bluestone, rendering above, will build a 16-story, transit oriented structure consisting of 249 mixed-use retail/luxury units at the 42 Broad Street address. The development adds $5.7 million annually in new spending, 80 new permanent jobs, $2 million in new tax revenue for Mount Vernon and the Mount Vernon School District. The project cost is valued at $90 million and does not garner public subsidies in underwriting this project.
Library Square, a Carlton Brown development will be located at Mount Vernon East, it is a transit oriented, 320 units consisting of upper middle income housing units with 96 units set aside for “creative class” residents. The project cost is $125 million.
Qwest Development, a Simone Project, is the first project to be development under a new Mount Vernon zoning code that allows developers to obtain permits in less than 45 days. See rendering above. Is The 140 unites will be built on the designated address of 7 and 11 MacQuesten Parkway.