On Monday, Pennrose Bricks & Mortar presented its plan for converting the former John L. Edwards school building into sixty-five mostly one-bedroom apartments for seniors with incomes up to 60 percent of the area median income (AMI). The annual income limit for a one-bedroom apartment would be $50,730. The monthly rent for a one-bedroom apartment would be $1,132.
Pennrose is looking to the City to support the project in the following ways:
- A zoning amendment expanding the R-4 District to include the site. The site is currently zoned R-1, which permits only single-family residences.
- Variances for the height and length of building from the Zoning Board of Appeals.
- The Common Council to declare itself the lead agency in the SEQR (State Environmental Quality Review) process and to make a negative declaration in the SEQR process.
- Site plan approval from the Planning Board.
The presentation about the project made to the Common Council can be viewed here.
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They have quite the ambition and were very well prepared for the council, ready with answers for any possible question. They make the developers for Mill St (Kearney) and Bliss (Mountco) seem like amateurs in comparison.
ReplyDeleteOne more thing down the road they will require is a PILOT. I’m typically against any more of them issued for housing developments, but I think it may be worthwhile in this case since I don’t see much hope for the property and blight to be redeveloped otherwise and I assume senior housing would be less tax resource dependent (police and schools). Plus money to the school for the sale, which I’m sure they’ll piss away, but whatever.