Developer honored for adding affordable housing in Newburgh
Mid Hudson News | October 2, 2015
Mountco Construction and Development Corporation, based in Scarsdale, has a long track record of rescuing properties and turning them into, among other things, affordable housing for segments of society that often find it hard to make ends meet.
One example is Burton Towers on Cerone Place, just over a block from Broadway in Newburgh. The renovated 131-unit building is now a pleasant home for seniors, with rent based on a portion of income.
Mountco owner Joel Mounty said this is what they do.
“Our goal is we’re developers; we’re for-profit developers but we specialize in affordable and specifically specific needs housing, so whether it’s senior or family or our veterans, we work with all these different types of housing.”
Mountco spent about $12.5 million to acquire and renovate Burton Towers.
It was in the community room at Burton Towers on Thursday that Mounty was presented a service award by State Senator William Larkin.
“Service award says that he cares about the community,” Larkin said. “He doesn’t live here but he cares to make sure that the quality of life is topnotch.”
Also praising Mounty and his company was Mayor Judy Kennedy, happy to have the property back on the tax rolls, with back taxes paid.