MOUNT VERNON – An agreement has been finalized between owners/merchants and the developers of 42 Broad Street, a proposed apartment building to be constructed in the Fleetwood section of Mount Vernon.
Mayor Richard Thomas said the city “has the luxury of choosing investments wisely. We are not desperate for development.”
He said the parties involved in 42 Broad “have recognized the unique location and economic possibilities of building in Mount Vernon.” An agreement was reached to move the project forward “wisely – with the health and quality of life of the community in mind.”
“Once construction commences, it will send a signal to potential investors that Mount Vernon is ready to build market-rate housing and understands that construction delays do not sent the right signals to the investment community,” said Mark Alexander of the Alexander Group, which is going to build the project.
