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.

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