Mountco takes pride in building affordable housing projects that revitalize New York communities.
By Tim O’Connor
A good affordable housing project can transform a community. It can bring in young professionals such as teachers and municipal workers who earn less than 80 percent of the local average mean income (AMI), while helping elderly residents afford to remain in their town.
Affordable housing projects can even revitalize a community. Fifteen years ago, Mountco Construction & Development Corp. was one of the few affordable housing developers in Mount Vernon, N.Y., a suburb of New York City near the Bronx. Mountco’s work in the area brought new people to the city, which in turned lured more shops and local businesses, sparking an economic renewal.
“It turns around a community over time,” Mountco founder and President Joel Mounty says. “When you build affordable you’re really creating something for families and individuals.”