Variances / Relief Granted:
- Site Size: 1.92 acres
- Ground level apartments: Code does NOT permit – Granted
- Parking required 293.6, Parking provided 171 – Short
- Number of apartments as of right – 77 – 115 built
- Extra 38 apartments
The numbers below reflect ONLY the EXTRA revenue for additional units granted.
20 – 1 bedroom @ $2,700 p.m = $54,000
18 – 2 bedroom @ $3,300 = $59,400
1 year rent – 1 bedroom = $696,000
1 year rent – 2 bedrooms = $712,000
$1,408,800 per year
Revenue to builder 10 years @ same rent rate = $14,088,000
Village Revenue: $50,000 per year
Village Revenue over 10 years: $500,000
Village revenue in perpetuity starting 2024 = $15,360.00
To view the Board’s vote and decisions on this application, please download PDF below.