Condo project breaks ground in Mount Vernon
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- May
- 17
Terrence Horton wanted to build condominiums with upscale amenities at affordable prices for Mount Vernon’s working class community.
He also wanted to help push the economic revitalization along East Sandford Boulevard and the surrounding area of the city.
The end result will be The Roosevelt at Franklin, a 12-story condominium complex with 42 units.
Horton, a real estate developer and a native of the city, gathered with Mount Vernon leaders today to break ground on the $14.5 million project at 440 Franklin Ave. Earthmovers and other heavy construction machinery were parked nearby.
“What attracts me is that I am a community developer,â€? said Horton, president of QFI Inc., a Mount Vernon-based property development and real estate management company. “This town needs individuals to not put money before quality. … I hope this project raises the bar and standard of living for Mount Vernon.â€?
When completed in about August 2008, The Roosevelt at Franklin will offer amenities such as concierge services, a fitness center and an executive conference room. Expected asking prices will be $260,000 for a one-bedroom unit and $370,000 to $375,000 for two-bedroom condos, according to Horton. He said that the condos are a good option for working class professionals who wish to live and work in Mount Vernon.
“We are targeting commissioners, law enforcement, teachers and civil service workers,� Horton said. “So these are affordable units.�
QFI previously developed Union Lane and Franklin Crest, two other residential developments in the area. The residential revitalization has coincided with a commercial renaissance. Major retailers such as Target, Staples and Bed Bath & Beyond have opened along East Sandford Boulevard in recent years.
“As we gather here today, realize that all things are possible,� Mount Vernon Mayor Ernest D. Davis told onlookers before the groundbreaking. “If you believe it, you can achieve it. We have an obligation to the next generation to make this city the best that it can possibly be.�
This entry was posted
on Thursday, May 17th, 2007 at 5:23 pm by Jay Loomis.
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Don’t believe the hype. This ground breaking was nothing more than a campaign ploy in an election year by Ernie Davis and his cronies to make it appear as if MV is a city on the move. The proof is in the pudding, MV broke ground on a long awaited Hip Hop Museum over a year ago, have you driven by 4th Avenue and 3rd Street to see the progress on the building. Well save the $3.25 on gas, there is no progress because there is no building. How about that incomplete roundabout, Mount Vernon Avenue, Levistor Towers, or the long awaited hotel and convention center. Don’t believe the hype as this project probably does not even have a valid building permit to build a 12 story building in a residential neighborhood.