Developer asks Mount Vernon to transfer parcels to IDA to advance mixed‑use project

Penrose and Sentinel representatives told the Mount Vernon Real Estate Committee on July 31 they want the committee to recommend that the city transfer several public parcels to the city’s Industrial Development Agency to allow the development team to secure site control and move toward construction.

The developers said the project would create mixed‑income housing over ground‑floor retail, a 5,000‑square‑foot workforce development center, and a roughly 10,000‑square‑foot light‑industrial area for equipment assembly and support. The team described corporate partners who they say have committed to space and training roles, and they asked the committee to refer a resolution to city council on Aug. 13 to transfer the city parcels to the IDA so the IDA can issue a conditional designation to the developers.

The committee was presented with the developers’ rationale and a step‑by‑step plan the presenters said would move the parcels from city and IDA ownership into a commonly owned block controlled by the IDA, which would then grant a long‑term ground lease to the development team. The developers said that…