Project Data*

Building
Budget: $200,513,619
Studios: 106
1BR: 205
2BR: 128
3BR: 3
Affordable: 44
Total: 442
Parking: 411
Stories: 23
Retail Space: 13068 sqft
Occupancy
Residents: 912
Students: 22
School: Columbus

Jobs
Construction: 400
Permanent FT: 25
Permanent PT: 3
Dates
Status: IDA Approved

Planning Board Approval: 7/24/2018
IDA Approval: 7/25/2018
Constr. Start: 2/1/2019
Length: 29 months
Completion: 7/1/2021
Tax Incentives
"As Is" Tax: $3,345,620
Full Property Tax: $42,235,076
PILOT: $19,558,107
Owner Savings: $22,676,969
PILOT (yrs): 20

Mortgage Tax Exemption: $1303339
Fair Share Mitigation: $696,000

Data Last Updated: 9/24/2018

*Data listed here is subject to change. FOIL/FOIA requests are pending to obtain any missing data. Some of these numbers are estimated. Data comes from city documents.

** GLOSSARY TERMS: "As Is" taxes are the taxes of the property before development. Full Property Taxes are the taxes of the property after development. PILOT means Payment in Lieu of Taxes, which is less than full property taxes. Owner savings is the property tax abatement in dollars and as a percent of Full Property Taxes. PILOT length is the number of years that the PILOT is in effect. Fair Share Mitigation (FSM) fees are monies collected by the City from the developer to cover future infrastructure needs. The school system gets approximately 2/3 of the FSM fees.

*** Residents are calculated as follows: Studios = 1, 1BR = 1.5, 2BR = 3, 3BR = 4.5 (NDC formula) Students are calculted as follows: Studios (*0), 1BR (*0.014), 2BR (*0.141), 3BR (*0.213) (NDC formula)

*Data updating and collection is done by volunteers and may contain the occasional error or miscalculation.

Progress Gallery

7/1/2016


7/1/2016