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Sentinel on Third: developers present mixed-use, workforce-focused plan; board asks for economic-impact analysis and site-control steps

2122623 · January 9, 2025
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.

Summary

Developers presented an update on the Sentinel on Third development to the Mount Vernon Industrial Development Agency on Jan. 9, describing a mixed-use project that the team said would combine workforce training and light-industrial space with residential units and retail.

Developers presented an update on the Sentinel on Third development to the Mount Vernon Industrial Development Agency on Jan. 9, describing a mixed-use project that the team said would combine workforce training and light-industrial space with residential units and retail. Board members and developers agreed that a formal economic-impact analysis and clear, contingent site-control arrangements must be completed before the Agency would consider incentives such as a PILOT or a long-term ground lease involving city and IDA-owned parcels.

Will Bell of Penrose, the development partner, described the project as a hybrid: “We really feel like the heart of this project is the ground floor,” he said,…

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