Alexander Development Group and its joint venture partners Bluestone Org. and J.P. Morgan Asset Management have landed a $59 million construction loan for the development of a 249-unit, mixed-use project in Mt. Vernon, NY. Cole Schotz P.C. arranged the funding with Santander Bank and People’s United Bank. The $95 million project, located at 42 Broad St., will feature a 16 story building with a total of 11,324 sqf of ground floor retail space along with a four-story, 580 car parking garage. Community amenities include a green building design, library, fitness center and a concierge.
