Simone Development Companies, Stagg Group Break Ground on $160 Million QWest Towers Affordable Housing Project in Mount Vernon
MOUNT VERNON, N.Y. — Construction has begun on QWest Towers, a $160 million affordable housing development that will deliver 229 apartments across two newly constructed residential buildings in Mount Vernon, Westchester County. The project is being developed through a partnership between Simone Development Companies, Stagg Group, and Rev. Dr. L'Judie Matt-Simmons, with financing anchored by New York State Homes and Community Renewal and a mix of public and private sources totaling $160 million.
Located adjacent to the Mount Vernon West Metro-North station within the city's Transit-Oriented Development Zone, QWest Towers will replace several vacant and dilapidated buildings with a mixed-use, all-electric development that includes approximately 3,300 square feet of ground-floor commercial space and 170 structured parking spaces across two garages.
Project Details and Affordable Housing Mix
The two buildings will offer a mix of studio, one-, two-, and three-bedroom apartments, all affordable to households earning up to 80 percent of the Area Median Income. The development includes 12 units designed to accommodate residents with mobility disabilities and seven units for residents with sensory disabilities.
Residents will have access to rooftop recreation areas and community rooms. QWest Towers is designed to meet Energy Star Multifamily New Construction and Enterprise Green Communities standards, incorporating landscaped roofs, electric vehicle charging stations, Energy Star appliances, low-flow plumbing fixtures, and low-emitting construction materials.
The project's transit-oriented location provides direct access to Metro-North rail service, connecting future residents to employment centers throughout Westchester County, New York City, and the Hudson Valley.
Financing Structure and Public Subsidy
Financing for QWest Towers draws on a layered stack of public and private capital. Federal and State Low-Income Housing Tax Credits administered by New York State Homes and Community Renewal are expected to generate more than $69 million in equity. The state agency is also providing $32.5 million in subsidy loans. Empire State Development contributed $5 million through its Mid-Hudson Momentum Fund, and Westchester County provided more than $19 million through its Housing Flex Fund and New Homes Land Acquisition Program.
The financing structure reflects broader conditions in the commercial real estate market, where developers pursuing affordable and workforce housing have increasingly relied on public subsidy programs to bridge capital gaps at a time when borrowing costs remain elevated. The 10-year Treasury stood at 4.48 percent in May 2026, keeping financing conditions tight across the industry. Projects with transit access, essential housing demand, and layered public support have been among the more financeable development types in that environment.
Developer and Official Statements
Joe Simone, president of Simone Development Companies, said the project carries personal significance. "As someone who grew up in Mount Vernon, seeing QWest Towers reach this milestone is incredibly meaningful," Simone said. "This project represents years of collaboration and a shared commitment to creating high-quality affordable workforce housing while helping transform the gateway to this city. We're proud to partner with Rev. Dr. L'Judie Matt-Simmons, Stagg Group and our public-sector partners to deliver a development that will serve residents and strengthen the Mount Vernon community for generations to come."
Mark Stagg, CEO of Stagg Group, emphasized the public-private partnership model that made the project possible. "QWest Towers demonstrates what can be accomplished when the public and private sectors work together toward a common goal," Stagg said. "Through our partnership with Simone Development Companies, Rev. Dr. L'Judie Matt-Simmons, New York State, Westchester County and the City of Mount Vernon, we're not just building housing — we're helping write the next chapter for this community."
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said the development illustrates how targeted investment can address housing shortages in transit-rich areas. "By transforming underutilized properties in a transit-rich neighborhood into 229 modern, energy-efficient apartments, this project will expand housing opportunities, support economic growth and strengthen the future of Mount Vernon," Visnauskas said.
Westchester County Executive Ken Jenkins noted the broader significance of the project for local families. "This project is about more than building 229 affordable homes — we are taking underutilized space and transforming it into a vibrant community asset that will provide safe, stable and affordable housing for Mount Vernon families," Jenkins said.
Mount Vernon Mayor Shawyn Patterson-Howard called QWest Towers a convergence of workforce housing, transit-oriented development, and neighborhood reinvestment. "QWest Towers is workforce housing, transit-oriented development, and neighborhood reinvestment all coming together in one transformative project," Patterson-Howard said.
Market Context and Policy Backdrop
QWest Towers is part of Governor Kathy Hochul's $25 billion five-year Housing Plan, which targets the creation or preservation of 100,000 affordable homes statewide. New York State Homes and Community Renewal has created or preserved more than 4,500 homes in Westchester County under the current administration, and close to 86,000 affordable homes have been created or preserved statewide to date under the plan.
Mount Vernon is a certified Pro-Housing Community under the state's Pro-Housing Community Program, which provides certified localities with access to up to $750 million in discretionary state funding. The city's designation made it eligible for the range of state resources supporting QWest Towers.
Multifamily demand has remained resilient nationally even as supply growth has slowed in several markets, with absorption holding above long-term norms through mid-2026. Transit-oriented, mixed-use infill projects in supply-constrained markets have drawn continued interest from both public funders and private developers as the broader commercial real estate market navigates a measured recovery from the rate-driven slowdown of recent years.
QWest Towers advances Mount Vernon's long-term vision for higher-density, mixed-use development surrounding its Metro-North transit hub, replacing properties that had sat vacant and deteriorated for years with a development designed to serve the community for decades.