Mount Vernon to build 80-unit $21 million apartment building; Prelwitz Chilinski to design “Edge” luxury apartments

The Mount Vernon Company will begin construction in June, 2012 on an 80 unit cutting edge apartment building in Allston across from its nearly completed 100 unit “Element” apartment building located on the corner of Brainerd Road and Griggs Street. The Edge will follow the theme of environmentally sensitive, green oriented living established by this new green neighborhood which will ultimately include up to 600 apartments. According to Bruce A. Percelay, Chairman of The Mount Vernon Company, “The Edge will be a LEED Gold certified luxury apartment building that will establish a new standard of living in the Allston market and beyond.” First Republic Bank Managing Director, Douglas Smith, who provided financing for the land acquisition, indicated “The Mount Vernon Company’s vision for this neighborhood is extraordinary and its impact will likely raise the bar for all landlords in the Allston and Brighton neighborhoods.” Jay Bisognano, Development Director for The Mount Vernon Company said that the company, which already controls 800 units in the Allston Brighton market, is “extremely excited about the opportunity to reshape this neighborhood and make a long term commitment to bringing Allston to a new level.” The Mount Vernon Company owns and operates over 1,400 apartments in the Boston area and is celebrating its 25th year in business.