Mount Vernon's High Rise Future
Mount Vernon is poised for a high rise future. After years of commercial development on Sanford Boulevard, including a Best Buy and a mall with a Target, developers are turning their attention to residential condos. A new $75 million dollar project called the Alexander is up for approval by Mount Vernon’s planning & zoning boards. Once approved the Alexander’s sponsor, the Read Property Group will be ready to break ground in the Spring of 2007. This is the first luxury high rise development of its size in Mount Vernon.
If approved, the new development will consist of 199 first class luxury condominiums. Plans include 79 one-bedrooms, 107 two-bedrooms, and 13 luxury duplex units. The developers project the 2 bedroom 1,100 sq.ft. units to sell for $550,000, while the 1 bedroom 800 sq.ft. units are projected to sell for $400,000.
The proposed nineteen (19) story high rise also includes 9,010 square feet of ground floor retail space. 257 off-street parking spaces will be provided in a two-level, below grade parking structure.
Lower Westchester is experiencing a boom in construction. Mount Vernon’s neighbors Yonkers and New Rochelle, each have billion dollar economic development projects underway to redefine lower Westchester for the next twenty years. Approximately 3,800 units of housing have either recently been constructed, or will be added to the supply in the near future. The Alexander is expected to generate $1.4 Million in real estate taxes and more than 360 jobs for Mount Vernon.
The City Council has passed the required approvals for the project to move to a vote by the Planning and Zoning boards. Other developments in Mount Vernon include the Vista, a new development by the Judelson Development Group LLC, in the Fleetwood section. Plans include 70 one and two bedroom condominiums 20 miles from New York City and one block from Metro North Railroad.
If you need more new condo information… Ask Rey.