Project Data*

Building
Budget: $140,602,042
Studios: 8
1BR: 201
2BR: 125
3BR: 0
3BR: 0
Affordable: 34
Total: 334
Parking: 334
Stories: 8
Retail Space: 0 sqft
Occupancy
Residents: 685
Students: 20
School: Trinity

Jobs
Construction: 700
Permanent FT: 10
Permanent PT: 
Dates
Status: IDA Approval

Planning Board Approval: 
IDA Approval: 6/26/2019
Constr. Start: 12/1/2019
Length: 36
Completion: 11/30/2022
Tax Incentives
"As Is" Tax: $0
Full Property Tax: $31,773,281
PILOT: $19,166,536
Owner Savings: $12,606,745
PILOT (yrs): 20

Mortgage Tax Exemption: $843612
Fair Share Mitigation: $1,178,978

Data Last Updated: 7/3/2019

*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 calculated 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

6/2/2019


6/2/2019


6/2/2019


6/2/2019


6/2/2019