Work on 500 Park Avenue begins, aims to piggyback off success of Mount Vernon neighbor

500 Park from 520 ParkA once-forgotten block in historic Mount Vernon got the latest in a string of investments Monday as a 153-unit apartment building broke ground.

The $29 million project will be called 500 Park Avenue and its development was sparked by passage of a new tax credit by the City Council in 2013 that offers a 15-year property tax break to developers, in this case the Baltimore-based Time Group.

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