News Tidbits 1/19/2019

20 01 2019

Now, let’s take a look at some notable property sales over the past few weeks. To make this easy, most sales documented in this post will use a standardized format for each entry.

1. What sold and for how much? 8 and 28 Newfield Depot Road, the parcel IDs for the 188-unit Valley Manor Mobile Home Park in Newfield, for $2,300,000 on 12/19/2018.

Who was the seller? Jim Ray Homes, a local manufactured and mobile home dealer, and mobile home park operator.

Who was the buyer? Cook Properties of Rochester, a mobile home management firm with properties across upstate New York.

Anything else? Not especially. The sale was just short of the tax assessed value ($2.3 million vs. $2.369 million), and while it’s a change of ownershipp, it’s also likely a maintenance of the status quo. Still, it’s a high-dollar sale worth noting. The assessment for mobile homes and manufactured homes is a bit funky, and I think the owners only own the lots, which likely contributes to the low price per unit.

2. What sold and for how much? 232 South Geneva Street for $533,000 on 12/20/2018, and 311-13 Farm Street in Fall Creek for $700,000 on 12/20/2018. 232 South Geneva is a 5-unit apartment building in the Henry St. John neighborhood; it sold for $302k in 2013, and $200k in 2008. 311-13 Farm Street is a 3-unit apartment building that sold for $505k in 2009. It includes 15 rentable bedrooms, and a portion that was set aside as an AirBnB by the previous owners, who had it on the market for $750k (assessment $610k). Both are small multi-family examples of the rapid price appreciation Tompkins County has been seeing in walkable urban areas.

Who was the seller? Jeremy Dietz for 232 South Geneva, and S&Y Investments, a California-based LLC (sales docs indicate the owners are John Scarpulla and Allyson Yarbrough) for 311-13 Farm Street.

Who was the buyer? An LLC associated with local landlord and developer Charlie O’Connor, owner of Modern Living Rentals.

Anything else? Don’t expect teardowns here. Generally speaking, that’s not MLR’s approach to Ithaca’s inner neighborhoods. Do expect them to stay rentals, probably with a renovation in the near future (see: 1002 North Cayuga Street and 202-04 East Marshall Street). O’Connor is flush with cash after his multi-million sale of the under-construction 802 Dryden Road to a Pittsburgh-based real estate investor last fall.

3. What sold and for how much? The Sprucewood Apartments in Northeast Ithaca, for $8,640,000 on 12/21/2018.  Sprucewood is a 108-unit apartment complex completed in 1966. All units are three-bedrooms, in eighteen six-unit buildings.

Who was the seller? The Lucente family, who run Lifestyle Properties in Ithaca. They own a host of other housing developments, including the Village Solars under construction in the town of Lansing.

Who was the buyer?  Winston Square LLC, an LLC associated with Stratford Management, a multifamily housing management firm with locations in six states.

Anything else? A case of “under new management”. The Lucentes are a whole lot richer, and Stratford, which mostly owns older apartment complexes across upstate, finally gets a toehold in the stable and lucrative Ithaca market. With it comes a new website and a name change, from Sprucewood to Winston Square. The apartments are primarily located on Winston Court, and the name comes from the late Rocco Sr.’s penchant for naming streets after cigarette brands in the 1950s and 1960s, hence the nickname “Cigarette Alley” for Northeast Ithaca. I don’t imagine that will be a part of the advertising pitch.

4. What sold and for how much? 815 South Aurora Street, for $385,000. The property includes a 2,845 SF industrial building and a 2,537 SF warehouse on 1.85 acres on South Hill. A radio and telecommunication tower is on site.

Who was the seller? Harold Fish. The Fish family has owned the property since at least the 1950s.

Who was the buyer? “IC Overlook LLC”, which appears to be associated with Modern Living Rentals and its owner, Charlie O’Connor.

Anything else? With Todd Fox, O’Connor proposed an 87-unit (all studio units) apartment building for the site in 2015, and in order to move forward, the duo had to make a case for the city to change its rules for building near radio and telecommunication towers. Most communities use the height plus 10 feet; at the time, Ithaca used double the height. This is a 170-foot tower, so that meant a 340 foot radius, instead of 180 feet as seen in most communities. The logic is the height plus a bit for bounce; but planning staff mused that Ithaca was a bit paranoid when the legislation was drawn up in the 1990s. The zoning code was revised, but such that it’s height plus 20% – a 204 foot radius, so the project had to be redesigned a bit. The last that was heard, plans were being for a 125-bedroom project in December 2016, but nothing came to light.

Until now. A sketch plan is scheduled for the planning board meeting next week.

5. What sold and for how much? 327 West Seneca Street, for $235,000 on January 11th.

Who was the seller? The estate of Orson Ledger, a man who was known in his decades of Ithaca for providing affordable housing by running his properties into the ground so that assessments would be low. Folks involved with Ithaca’s rental market in decades past tend to have strong opinions about Ledger, who died in a car accident five years ago.

Who was the buyer? An LLC tied to Visum Development Group.

Anything else? It means Visum’s 12-unit workforce housing proposal approved for 327 West Seneca Street is now one step closer to happening.

6. What sold and for how much? 305 West Green Street, for $560,000 on January 17th. 305 West Green Street is the former Ithaca Plastics. The property hosts a 2,400 SF home and a 5,150 SF industrial building.

Who was the seller? Richard and Sharon Buechel of Dryden, who had owned the property since 1989.

Who was the buyer? Cascade Studios LLC, which is registered to the address of Ithaca musician Brian Thrash.

Anything else? Generally not wise to take guesses on these sort of things, but plans for a music/recording studio, perhaps?

7. Something that catches the eye – local landlord Ed Cope has been actively selling off many of his rental properties. 310 Farm Street was sold for $365,000 on 12/28 to Jonah and Alicia Freedman, as was 312 Farm Street, for $395,000 on the same day. 513 South Aurora Street was also sold on December 28th, to Andrew Schreck for $425,000. Cope sold out of his share of 324 West Seneca Street for $180,200 on January 17th, and sold out of his share of 318-20 West Seneca on the same day for $349,800. That’s in addition to the sale of 115 Linn Street for $540,000 last October. That’s six sales in four months.

Vice-versa, Cope bought 107-09 Hudson Street from the estate of Sophia Tselekis for $540,000 on January 10th. Previously, Cope purchased 115 Hudson for $495,000 in October, and 108-110 Hudson Street for $460,000 in September.

All of this is to suggest that Ed Cope has been a very busy man lately. It would look as if he’s selling off properties to finance purchases of other properties clustered on the 100 Block of Hudson Street, just south of downtown and Six Mile Creek. Cope already owns 105 Hudson Street and 201 South Aurora Street on the corner, 114 Hudson, 117 Hudson and 118-120 Hudson. That leaves three properties in that cluster of eleven that he doesn’t own – 101, 111 and 112 Hudson Street. It’s not clear if something is in the works, but it is curious.

Now onto building loan agreements:

8. Where property received the construction loan? 232-236 Dryden Road, also known as “The Lux”, a 206-bedroom pair of student-oriented apartment buildings completed in 2018.  Visum Development Group completed the project, and plans are in the works for an eight-unit, 16-bedroom third building at 238 Dryden Road.

Who gave them the money? MF1 Capital LLC. The LLC is joint venture between real estate megafirm CBRE, Limekiln Real Estate of New York and Berkshire Group of Boston. According to online reports, it’s a mortgage REIT (Real Estate Investment Trust) focused on providing cash equity to multifamily (about 75% of its business) and seniors housing (the remaining 25%). A bridge loan is a short-term (2-3 year) financial solution, used as a “bridge” when a developer needs quick cash for a prime opportunity and has yet to obtain conventional construction loans. They’re usually easier to obtain because the analysis that goes into determining whether or not to extend the loan is less extensive, usually based on property value (which means a high-value loan in the case of a large Collegetown property). The trade off on these loans is that they often come with a high interest rate; and with that short term period, the loan will have to be paid back within a few years.

What it suggests here is that Visum has put most of its revenue right back into its latest plans in the form of working capital, and that there’s high confidence both in themselves and from the investor that those plans will be successful. That seems to make the most sense given Visum’s explosive growth. On a related note, $1.5 million would be about right for a new eight-unit apartment building on this site.

 

 





News Tidbits 12/17/18

18 12 2018

Here’s a look at the agenda for the city of Ithaca Planning and Development Board meeting this month. It’s a week earlier than usual due to the Christmas holiday. Notes and comments in italics below.

1. Agenda Review 6:00
2. Special Order of Business – Presentation of the Greater Southside Plan 6:05
3. Privilege of the Floor 6:20
4. Approval of Minutes: November 27, 2018 6:35

5 Special Permits 6:40

A. Project: Bed & Breakfast Special Permit
Location: 130 Coddington Road
Applicant: Noah Demarest
Actions: Declaration of Lead Agency, Public Hearing, Determination of Environmental Significance, Potential Consideration of Special Permit Approval

Project Description: The applicant is seeking a Special Permit for use of the property as a homeowner occupied Bed and Breakfast. The property was originally issued a Special Permit in 1998 for operation of the five bedroom home as a homeowner occupied Bed and Breakfast; the Special Permit was not renewed in 2003, as required by §325-9c(4)(g)[3], and has therefore expired. During a recent home inspection, it was discovered the property had continued to operate absent a Special Permit, necessitating a new Special Permit application. No physical alterations to the building or the site are proposed. Issuance of a Special Permit is an Unlisted Action under the City of Ithaca Environmental Quality Review Ordinance (“CEQRO”) and the State Environmental Quality Review Act “(“SEQRA”)

This is a simple case of where the previous owner never renewed the five-year permit and didn’t tell the new buyer, who planned to continue using the home as a live-in Bed & Breakfast. No letters of opposition are on file. Approval, with the proper completion of all necessary forms, is likely to be straightforward.

B. Project: Bed & Breakfast Home Special Permit 6:50
Location: 2 Fountain Place
Applicant: Jason K Demarest
Actions: Declaration of Lead Agency, Public Hearing, Determination of Environmental Significance, Potential Consideration of Special Permit Approval
Project Description: The applicant is seeking a Special Permit to operate the existing 4,492 SF nine (9) bedroom residence located at 2 Fountain Place as a Bed and Breakfast Home. The owner is proposing to utilize four (4) of the nine (9) bedrooms as guest bedrooms for a period not to exceed 21 consecutive days, with a fifth bedroom utilized for home-owner occupancy. Guest occupancy will be limited to two persons or one family per guestroom. No exterior modifications are proposed to the existing home to establish the B&B use, and the existing house is compatible with the character of the neighborhood. Existing parking for seven (7) vehicles exists in the turnaround off Willets Place. The applicant does not propose cooking facilities in the guestrooms, and food service is to be limited to guests of the B&B. No other B&B Homes exist within 500 feet of the property. One sign that is five (5) SF maximum in area and not self-illuminated will be installed in compliance with Chapter 272 of the City Code, “Signs.”

Under city zoning code, B&Bs, which are to be owner-occupied, are allowed to four bedrooms to be used for the guests. A zoning code variance to use eight bedrooms as guest occupancy seemed unlikely, but the new owners believe the B&B may still be viable. Local architect Jason K. Demarest (brother of STREAM’s principal architect, Noah Demarest) is known for his historic restorations and historically-inspired design work, so his involvement is auspicious for those who hope that the century-old mansion and former Ithaca College president’s house retains its character.

6 Site Plan Review

A. Project: Chain Works District Redevelopment Plan (FGEIS) 7:00
Location: 620 S. Aurora St.
Applicant: Jamie Gensel for David Lubin of Unchained Properties
Actions: Review FGEIS & Town Comments – No Action
Project Description: The proposed Chain Works District seeks to redevelop and rehabilitate the +/-800,000 sf former Morse Chain/Emerson Power Transmission facility, located on a 95-acre parcel traversing the City and Town of Ithaca’s municipal boundary. The applicant has applied for a Planned Unit Development (PUD) for development of a mixed-use district, which includes residential, commercial, office, and manufacturing. The site’s redevelopment would bridge South Hill and Downtown Ithaca, the Town and the City of Ithaca, by providing multiple intermodal access routes including a highly-desired trail connection. The project will be completed in multiple phases over a period of several years with the initial phases involving the redevelopment of the existing structures. Current redevelopment of this property will focus on retrofitting existing buildings and infrastructure for new uses. Using the existing structures, residential, commercial, studio workspaces, and office development are proposed to be predominantly within the City of Ithaca, while manufacturing will be within both the Town and City of Ithaca. Project materials are available for download from the City website: http://www.cityofithaca.org/DocumentCenter/Index/119

Hey, they’re starting to include documentation links in the agenda descriptions now! Most of the town’s comments are minor modifications and a possible correction on one of the traffic lane analyses. There’s a boatload of paperwork to dig through, so this meeting is just a chance for the planning board to look at the town’s comments, digest some of the supplemental files, and make sure there are no red flags or major concerns within that subset of information.

B. Project: North Campus Residential Expansion (NCRE) 7:20
Location: Cornell University Campus
Applicant: Trowbridge Wolf Michaels for Cornell University
Actions: Determination of Environmental Significance
Project Description: The applicant proposes to construct two residential complexes (one for sophomores and the other for freshmen) on two sites on North Campus. The sophomore site will have four residential buildings with 800 new beds and associated program space totaling 299,900 SF and a 59,700 SF, 1,200-seat, dining facility. The sophomore site is mainly in the City of Ithaca with a small portion in the Village of Cayuga Heights; however, all buildings are in the City. The freshman site will have three new residential buildings (each spanning the City and Town line) with a total of 401,200 SF and 1,200 new beds and associated program space – 223,400 of which is in the City, and 177,800 of which is in the Town. The buildings will be between two and six stories using a modern aesthetic. The project is in three zoning districts: the U-I zoning district in the City in which the proposed five stories and 55 feet are allowed; the Low Density Residential District (LDR) in the Town which allows for the proposed two-story residence halls (with a special permit); and the Multiple Housing District within Cayuga Heights in which no buildings are proposed. This has been determined to be a Type I Action under the City of Ithaca Environmental Quality Review Ordinance (“CEQRO”) §176-4 B.(1)(b), (h) 4, (i) and (n) and the State Environmental Quality Review Act (“SEQRA”) § 617.4 (b)(5)(iii). Project materials are available for download from the City website: http://www.cityofithaca.org/DocumentCenter/Index/811

This is likely to be the most contentious part of the meeting. The planning staff have conducted their analysis. Some traffic mitigation measures are sought, including circulation and mass transit / multi-modal transit improvements. The city will make sewer system upgrades a stipulation of project approval, and being next to the Cornell Heights Historic District, the board as Lead Agency wants a more sensitive use of materials and material colors, and extensive vegetative screening to be reviewed further before approval. But the most debated component, the energy use impacts, the city feels is effectively mitigated through the proposed measures by the applicant team.

I’m going to raise one point of correction though – the number of beds is going up to 2,079, but the planning staff should note that a campus-owned fraternity house, the former Sigma Alpha Mu building at 10 Sisson Place (the chapter moved to 122 McGraw Place), is coming down to make way for the project, so the gross number of beds is at least 30 less that that figure.

C. Project: Falls Park Apartments (74 Units) 7:50
Location: 121-125 Lake Street
Applicant: IFR Development LLC
Actions: Review of FEAF Part 3 – No Action
Project Description: The applicant proposes to build a 133,000 GSF, four-story apartment building and associated site improvements on the former Gun Hill Factory site. The 74-unit, age-restricted apartment building will be a mix of one- and two-bedroom units and will include 7,440 SF of amenity space and 85 parking spaces (20 surface spaces and 65 covered spaces under the building). Site improvements include an eight-foot wide public walkway located within the dedicated open space on adjacent City Property (as required per agreements established between the City and the property owner in 2007) and is to be constructed by the project sponsor. The project site is currently in the New York State Brownfield Cleanup Program (BCP). Before site development can occur, the applicant is required to remediate the site based on soil cleanup objectives for restricted residential use. A remedial investigation (RI) was recently completed at the site and was submitted to NYSDEC in August 2018. The project is in the R-3a Zoning District and requires multiple variances. This is a Type I Action under the City of Ithaca Environmental Quality Review Ordinance (“CEQRO”) §176-4 B(1) (h)[2], (k) and (n) and the State Environmental Quality Review Act (“SEQRA”) §617-4 (b) (11). Project materials are available for download from the City website: http://www.cityofithaca.org/DocumentCenter/Index/852

Part III of FEAF is the city planner-written review of impacts, proposed mitigations, and whether the lead agency feels the mitigations are appropriate and effective. Some stormwater, remediation plan and other supplemental materials are still needed before a declaration of significance can be made. 

D. Project: New Two-Family Dwellings 8:10
Location: 815-817 N Aurora
Applicant: Stavros Stavropoulos
Actions: Public Hearing
Project Description: The applicant proposes to demolish an existing two-family residential structure and construct two new 1,290 SF two-family dwellings on a 9,590 SF lot. The existing residential building is a legally non-conforming building with a side setback deficiency (2.9 feet instead of the required 5 feet). The proposed redevelopment will include four parking spaces for four three-bedroom apartments. The applicant is requesting the Board’s approval to use the landscaping compliance method for parking arrangement. The project site is located in the R-2b Zoning District and meets all applicable zoning lot and setback requirements. This is an Unlisted Action under the City of Ithaca Environmental Quality Review Ordinance (“CEQRO”) and the State Environmental Quality Review Act (“SEQRA”). Project materials are available for download from the City website: http://www.cityofithaca.org/DocumentCenter/Index/859

City staff were really unhappy about this plan last month, and it was implied that this was one of the examples of “bad” infill that may lead to the new single primary structure overlay. However, barring extreme circumstances (think Maguire at Carpenter Park), review will continue under the current regulations. No new materials appear to have been submitted since the last meeting. 

E. Project: Maguire Ford Lincoln Additions and Improvements 8:30
Location: 370 Elmira Road
Applicant: John Snyder Architects PLLC
Actions: Public Hearing, Potential Determination of Environmental Significance

Project Description: The applicant proposes to demolish a portion of the existing building and construct two additions with updated exterior materials. The existing building is 18,500 GSF, with 2,265 GSF proposed for demolition. The new building will be 24,110 GSF. Site improvements include incorporation of a new pedestrian walking path, and site connections to Wegmans. Approximately 311 parking spaces are proposed to accommodate customer, service parking, employee, and display parking. The project site is located in the SW-2 Zone, is subject to the 2000 Southwest Design Guidelines, and will require a zoning variance for a front yard that exceeds the maximum permissible in the SW-2 district (34 feet maximum permitted, 69-feet 3-inch setback proposed). This is an Unlisted Action under the City of Ithaca Environmental Quality Review Ordinance (“CEQRO”) and the State Environmental Quality Review Act (“SEQRA”); however, it will be treated as a Type I Action for the purpose of environmental review. Project materials are available for download from the City website: http://www.cityofithaca.org/DocumentCenter/Index/860

The revised plans include modified architectural features (more windows, a green wall), and a greater amount of vegetated landscaping to comply with zoning. On-site solar panels are being considered per board recommendation, but the old building was not designed to hold the weight of solar panels. The new wings will be designed to host panels. Heat pumps are being evaluated for some functions, but some of the heavy-duty components like the service bay will likely rely on modified conventional fuel systems. The building will meet or exceed NYS Energy Code requirements.

F. West Hill- Tiny Timbers – Sketch Plan 8:50

This one has been a long time coming. Tiny Timbers bought a 5.45 acre parcel on the south end of Campbell Avenue’s 400 block back in September 2016, and has long planned one of its cluster home developments on the vacant lot. As noted at the time on the blog:

“Dolph et al. are looking to do a similar development to the one in Varna on a 5.45 acre parcel at the south end of the 400 Block of Campbell Avenue, which was noted in a weekly news roundup when it hit the market back for $195k in August 2015. The Journal’s Nick Reynolds touched on it in a through write-up he did earlier this week. The comprehensive plan calls this portion of West Hill low-density residential, less than 10 units per acre. Current zoning is R-1a, 10000 SF minimum lot size with mandatory off-street parking, although maybe a cluster subdivision would come into play here. The Varna property is a little over 6 units per acre. If one assumes a similar density to the Varna project, the ballpark is about 35 units, if sticking to the 10000 SF lot size, then 23 units.

On the one hand, expect some grumbling from neighbors who won’t be thrilled with development at the end of their dead-end street. On the other hand, these small houses are modestly-sized and priced, they’ll be owner-occupied, and if the Varna site is any indication, the landscaping and building design will be aesthetically pleasing.”

G. 112-114 Summit Ave – Sketch Plan 9:10

This one required some fact-checking, because 114 Summit Avenue was the former Cascadilla school dorm that came down last year to make way for the Lux apartment project at 232-236 Dryden Road. A better address for this project might be “238 Dryden”, and the rumor mill says it’s by Visum Development Group, who developed the Lux. Although the exact positioning seems uncertain, the parcel north of the Lux is CR-3 (three floors, 40% lot coverage, parking and houselike features such as gables and porches required), and the remaining adjoining parcels are CR-4 (four floors, 50% lot coverage, no parking required). With student housing experiencing a little more slack in the market lately, it’s not clear if this is student housing, or another use.

7. Old/New Business PRC Meeting Time/ Date 9:30

8. Reports
A. Planning Board Chair
B. BPW Liaison
C. Director of Planning & Development 9:40

9. Adjournment 9:50





News Tidbits 11/26/18

27 11 2018

Just to get this out in time, he’s a look at what will be a rather long but very interesting city of Ithaca Planning Board meeting tomorrow evening.

1 Agenda Review 6:00

2 Special Order of Business – Planning Report on ILPC recommendation to designate the former Delaware, Lackawanna, & Western Railroad Station at 701 West Seneca Street. 6:05

3 Privilege of the Floor 6:20

4 Approval of Minutes: October 23, 2018 6:35

5 Site Plan Review

A. Project: Chain Works District Redevelopment Plan (FGEIS) 6:40
Location: 620 S. Aurora St.
Applicant: Jamie Gensel for David Lubin of Unchained Properties
Actions: Distribution of FGEIS & Review of Schedule – No Action
Project Description: The proposed Chain Works District seeks to redevelop and rehabilitate the +/-800,000 sf former Morse Chain/Emerson Power Transmission facility, located on a 95-acre parcel traversing the City and Town of Ithaca’s municipal boundary. The applicant has applied for a Planned Unit Development (PUD) for development of a mixed-use district, which includes residential, commercial, office, and manufacturing. The site’s redevelopment would bridge South Hill and Downtown Ithaca, the Town and the City of Ithaca, by providing multiple intermodal access routes including a highly-desired trail connection. The project will be completed in multiple phases over a period of several years with the initial phases involving the redevelopment of the existing structures. Current redevelopment of this property will focus on retrofitting existing buildings and infrastructure for new uses. Using the existing structures, residential, commercial, studio workspaces, and office development are proposed to be predominantly within the City of Ithaca, while manufacturing will be within both the Town and City of Ithaca.

No decisions expected tonight, but the distribution of the FGEIS (Final Generic Environmental Impact Statement) is a major step forward. From here, the Planning Board will review and critique the document, and when satisfied, it will vote for a resolution of completion. A recommendation to adopt the Chainworks PUD zoning and the FGEIS findings will follow, and if successful, the Common Council will also vote to adopt the PUD zoning. That would complete generic review for the site – new builds would still come to the board as necessary, but renovations could potentially begin not long afterward. Timing-wise, the final approvals are still a few months out, but this massive 910+ unit project is slowly closing in on approvals, and potentially, construction.

B. Project: North Campus Residential Expansion (NCRE) 6:55
Location: Cornell University Campus
Applicant: Trowbridge Wolf Michaels for Cornell University
Actions: Review of FEAF Part 3
Project Description: The applicant proposes to construct two residential complexes (one for sophomores and the other for freshmen) on two sites on North Campus. The sophomore site will have four residential buildings with 800 new beds and associated program space totaling 299,900 SF and a 59,700 SF, 1,200-seat, dining facility. The sophomore site is mainly in the City of Ithaca with a small portion in the Village of Cayuga Heights; however, all buildings are in the City. The freshman site will have three new residential buildings (each spanning the City and Town line) with a total of 401,200 SF and 1,200 new beds and associated program space – 223,400 of which is in the City, and 177,800 of which is in the Town. The buildings will be between two and six stories using a modern aesthetic. The project is in three zoning districts: the U-I zoning district in the City in which the proposed five stories and 55 feet are allowed; the Low Density Residential District (LDR) in the Town which allows for the proposed two-story residence halls (with a special permit); and the Multiple Housing District within Cayuga Heights in which no buildings are proposed. This has been determined to be a Type I Action under the City of Ithaca Environmental Quality Review Ordinance (“CEQRO”) §176-4 B.(1)(b), (h) 4, (i) and (n) and the State Environmental Quality Review Act (“SEQRA”) § 617.4 (b)(5)(iii). All NCRE materials are available for download at: http://www.cityofithaca.org/DocumentCenter/Index/811

Materials provided indicate that city planning staff are reasonably satisfied that the energy impacts of the massive North Campus housing plan have been mitigated. The only new letter on record this month is a letter of concern from the City Historic Preservation Planner about the project’s visual and aesthetic impacts on the Cornell Heights Historic District to the west.

C. Project: Apartments (12 Units) 7:25
Location: 327 W. Seneca Street
Applicant: Noah Demarest for Visum Development
Actions: Consideration of Preliminary & Final Site Plan Approval
Project Description: The applicant is proposing to construct a three-story apartment building with 12 units. Project development requires the removal of the exiting building and parking area. The project will include exterior bike storage, a trash enclosure, walkways, landscaping, signage, and lighting. The project is in the B2-d Zoning District and has received the required variances for front-, side-, and rear-yard setbacks. A small portion at the rear of the property is in the CDB-60 District. The project has received Design Review. This is an Unlisted Action under the City of Ithaca Environmental Quality Review Ordinance (“CEQRO”) and the State Environmental Quality Review Act (“SEQRA”), for which the Lead Agency made a Negative Determination of Environmental Significance on September 25, 2018.

Not much to add regarding Visum’s workforce housing (80% area median income) proposal for the State Street Corridor. The project is expected to receive $200,000 from the latest round of the Community Housing Development Fund, the affordable housing fund jointly paid into by the city, county and Cornell. In this case, Cornell will cover $170,000 and the city $30,000. Cornell doesn’t have any hand in this project, but having one entity pay most of the grant for a given project makes it less complex to administer. 

D. Project: Falls Park Apartments (74 Units) 7:35
Location: 121-125 Lake Street
Applicant: IFR Development LLC
Actions: Public Hearing, Review of FEAF Parts 2 & 3
Project Description: The applicant proposes to build a 133,000 GSF, four-story apartment building and associated site improvements on the former Gun Hill Factory site. The 74-unit, age-restricted apartment building will be a mix of one- and two-bedroom units and will include 7,440 SF of amenity space and 85 parking spaces (20 surface spaces and 65 covered spaces under the building). Site improvements include an eight-foot wide public walkway located within the dedicated open space on adjacent City Property (as required per agreements established between the City and the property owner in 2007) and is to be constructed by the project sponsor. The project site is currently in the New York State Brownfield Cleanup Program (BCP). Before site development can occur, the applicant is required to remediate the site based on soil cleanup objectives for restricted residential use. A remedial investigation (RI) was recently completed at the site and was submitted to NYSDEC in August 2018. The project is in the R-3a Zoning District and requires multiple variances. This is a Type I Action under the City of Ithaca Environmental Quality Review Ordinance (“CEQRO”) §176-4 B(1) (h)[2], (k) and (n) and the State Environmental Quality Review Act (“SEQRA”) §617-4 (b) (11).

Note that IFR is a Travis Hyde Properties business entity. The attempt to gain approval for an environmentally compromised project site is likely going to be more heavily scrutinized given the recent controversy regarding proposed demolition procedures for the Old Library site.

E. Project: New Two-Family Dwellings 7:55
Location: 815-817 N Aurora
Applicant: Stavros Stavropoulos
Actions: Declaration of Lead Agency, Review of SEAF Parts 2 & 3
Project Description: The applicant proposes to demolish an existing two-family residential structure and construct two new 1,290 SF two-family dwellings on a 9,590 SF lot. The existing residential building is a legally nonconforming building with a side setback deficiency (2.9 feet instead of the required 5 feet). The proposed redevelopment will include four parking spaces for four three-bedroom apartments. The applicant is requesting the Board’s approval to use the landscaping compliance method for parking arrangement. The project site is located in the R-2b Zoning District and meets all applicable zoning lot and setback requirements. This is an Unlisted Action under the City of Ithaca Environmental Quality Review Ordinance (“CEQRO”) and the State Environmental Quality Review Act (“SEQRA”).

F. Project: Maguire Lincoln 8:15
Location: 370 Elmira Road
Applicant: John Snyder Architects PLLC
Actions: Declaration of Lead Agency, Review of FEAF Parts 2 & 3
Project Description: The applicant proposes to demolish a portion of the existing building and construct two additions with updated exterior materials. The existing building is 18,500 GSF, with 2,265 GSF proposed for demolition. The new building will be 24,110 GSF. Site improvements include incorporation of a new pedestrian walking path, and site connections to Wegmans. Approximately 311 parking spaces are proposed to accommodate customer, service parking, employee, and display parking. Landscape design will improve vegetative cover; however, it will not meet the City of Ithaca’s impervious/pervious requirements (12%). The project site is located in the SW-2 Zone, is subject to the 2000 Southwest Design Guidelines, and will require a zoning variance for a front yard that exceeds the maximum permissible in the SW-2 district (34 feet maximum permitted, 69-feet 3-inch setback proposed). This is an Unlisted Action under the City of Ithaca Environmental Quality Review Ordinance (“CEQRO”) and the State Environmental Quality Review Act (“SEQRA”); however, it will be treated as a Type I Action for the purpose of environmental review.

G. Sketch Plan – 312 E Seneca Street, Jagat Sharma 8:35

312 East Seneca is a 4,482 SF three-story mixed-use building on the edge of Downtown Ithaca. The building was long-owned by Ithaca architect Jagat Sharma, who ran his practice from the building (1416 SF), the Alley Cat Cafe (1926 SF), and a four-bedroom apartment (1140 SF) on the upper floors.

A few years ago, the site was floated as part of the potential footprint for Visum Development’s Seneca Flats mixed-use project, though at the time it was made clear that it was not an essential property to the development, and simply a possibility if Sharma chose to sell to Visum. Sharma didn’t – in September, he sold the building to an LLC associated with the Stavropoulos family for $800,000, double the assessed value. That lofty price relative to assessed value was a big clue something was planned here, and it looks like the first glimpse of that will come tomorrow night. The Stavropoli of West Hill have been growing their assets through acquisition or development for the past several years, including the 4-unit North Aurora project in item E. above.

Normally, the Stavropoulos family is low-key about development, preferring lower-profile infill builds in established neighborhoods – the largest project of theirs to date is the 11-unit 107 South Albany project. They often turn to local architect Daniel Hirtler, but this time, Collegetown favorite Jagat Sharma will have a hand in redeveloping the building that housed his office for so many years. This would be Sharma’s first building downtown since the Greenstate Building (127 West State Street) in 1991. For the record, this would be their second Sharma commission, with a duplex planned for 209 Hudson Street being the other (granted, that’s also a modular structure).

Zoning-wise, this is CBD-60. Within that zone, Sharma can design a five-story building up to 60 feet tall, no parking required, with any variety of commercial or residential uses. Any design will have to conform with the recently-adopted Downtown Design Guidelines. The Stavropoli are likely to do all-residential or residential with ground-floor retail. The current building is quite narrow, but it also only occupied the east half of the lot – a new structure could practically touch the neighboring building at 308 East Seneca.

H. Sketch Plan – 114 Catherine Street, Jagat Sharma 8:55

Things are about to get a bit confusing. A few years ago, the Lambrou family, mid-sized Collegetown landlords and developers of Collegetown Park, presented and built an infill project at 114 Catherine Street – while all the working docs used 114 Catherine Street, the address of the existing building set back into the lot, the new 3-unit, 17-bedroom building was christened 116 Catherine Street.

This new building is expected to be a replacement for the existing 114 Catherine Street, the Mission Apartments, and is expected to complement 116 Catherine in appearance (Jagat Sharma designed that as well). Zoning here is CR-4, up to four floors, with a maximum of 50% lot coverage (but not parking required). Expect this to be student housing – probably not too big, a few dozen beds at most, but something to take note of nevertheless.

I. Sketch Plan – 130 Cherry Street, Residential, Vecino Group 9:15

130 Cherry Street is a 4,600 SF auto body shop that’s been for sale for quite a while now. The rumor mill says Vecino CEO Rick Manzardo was walking around the area a couple of weeks ago, and it looks like there was a reason for that. The plan being floated is affordable “artist housing”. This wouldn’t be a new concept to Vecino, who renovated a vacant warehouse in Troy into the 80-unit Hudson Arthaus. What makes the Arthaus unique among affordable housing is that it offers on-site amenities geared to artists, as well as income-based rents for those who make only a modest living while engaged in their creative pursuits.  Those amenities include a wood shop, on-site storage units, gallery spaces managed by a local non-profit, and a computer/digital work suite.

Zoning here is “Cherry Street District” Waterfront Zoning. Since it’s north of Cecil Malone Drive, housing is allowed – but not on the first floor. The first floor is for light industrial and many commercial uses, including restaurants, stores and offices. No ground-level storage permitted, however. In this “artist housing” format, the first floor would likely be the exhibition/gallery.workshop space. The building may be up to five floors with 100% lot coverage once setback requirements are met. Bonus for this site, the Cherry Artspace is a few hundred feet away. With about 179,000 SF in building capacity offered by the site and zoning before setbacks are considered, a potential project could be fairly sizable.

6. Old/New Business 9:35

7. Reports 9:40
A. Planning Board Chair
B. BPW Liaison
C. Director of Planning & Development

8. Adjournment 10:00





News Tidbits 7/7/2018

7 07 2018

1. The infill project at 209 Hudson has been revised and reduced in size. The new plan from the Stavropoulos family of developers calls for just one new duplex at this time, on the existing lawn and swimming pool of the extra-large lot. The rear duplex was eliminated in the revised plan. A small zoning variance is still required for the subdivision (side yard deficiency), but it’s less likely to catch the ire of BZA members this time around because more mature trees are preserved in this reduced-size iteration. Modest bay window projections, fiber cement panels and wood trim will help create a higher quality product.

The duplex would be a quick build since it’s modular, but it’s not going to be ready in time for fall semester – spring (January) would be feasible, if the individual units are assembled before the snow flies. The Planning Board will make their recommendation this month, and the BZA will have their vote in early August, with potential final approval in late August. Quick note, as this has fallen under the threshold for the Ithaca project map (3 units or more), it has been removed.

Also due for review this month are final approvals for 128 West Falls Street (above) and a 3,200 SF endcap addition at South Meadow Square, and approval of a subdivision at 508-512 Edgewood Place.

2. Recently, Visum Development posted photos on their Facebook/Instagram taken during setup for an interview with Park Productions, and Ithaca College student media group. Normally, that’s not something to write about, but this caught my attention:

327 West Seneca is the new all-affordable project they introduced at last month’s planning board meeting. As for the others, I don’t have much of a clue. Ithaca does not have a Main Street, so that’s likely another community. 409 State may refer to an older building at 409 West State or 409 East State, but 409 East State is Travis Hyde’s Gateway Center property (and who at last check had no plans to sell).

As for the others, it looks like the first number was erased. Also of note, there is no East Cayuga, it’s just North and South. So I dunno quite what to make of it – hints of projects with some red herrings, it seems. Worth a look, but it’s not much to work with just yet.

3. Time for a little more speculation. A vacant lot east of 404 Wood Street in the city of Ithaca’s Southside neighborhood sold for $70,000 on June 26th. The buyers were a husband-and-wife pair who also happen to work for Taitem Engineering, a prominent local consulting engineering firm with specialties in structural engineering and associated branches in the context of green/sustainable building operation. The pair previously did a LEED Platinum, net-zero energy home in Ulysses two years ago. The likely guess here is that they’ll be building their next net-zero energy residence on this lot.

As previously noted when the property went up for sale in January 2016 (it was later subdivided from 404 Wood, which was sold a while ago), “(p)laying with some numbers a little bit, there are a couple of options if a buyer wanted to build something. The first and probably easier option would be to subdivide the lot and build on the vacant corner parcel. That would give, per R-3b zoning regulations of 40% lot coverage and 4 floors, about 1400 SF per floor. That gives 5600 SF, and if one assumes 15% off for circulation/utilities and 850 SF per unit, you get a 5 or 6 unit building at theoretical maximum.”

TL;DR – if they want to do a small infill net-zero apartment building, they can. If they want to do a sizable single-family residence, they can do that as well. We’ll just have to wait and see what happens.

4. On the policy side, the Ithaca Common Council voted Wednesday night to move forward with a CIITAP stipulation stating projects pursuing the tax abatement must have a mandatory affordable housing component of 20%, available to those making 75% Area Median Income, affected all residential projects with ten units or more.The extension of CIITAP applicable properties along the Waterfront was also approved.

The policy comes forth after considerable debate over the right percentage and right income to apply. It’s the Goldilocks principle – too little and you don’t add an appreciable amount of affordable housing and may even decrease the amount once redevelopment occurs in lower-income blocks, too much and developers just won’t build (the Portland problem), and those who stick around will renovate existing buildings instead, meaning less supply overall, fewer existing lower-income units and accelerated gentrification. Among things discussed Wednesday night, a proposal to modify the mandatory size requirement of affordable units from a minimum of 80% the square-footage of the market-rate to 100% failed 5-4 (needed six), the % of affordable units went from 10% to 25% (the 25% was the First Ward’s George McGonigal, who has a history of being opposed to new market-rate and affordable housing, and did not get a second to open discussion).

It’s too early to say if this is too much or not enough – the City Harbor folks were in attendance for the discussion (they were at the meeting for a different topic), but didn’t raise concerns to 20%, so it seems likely their project is able to continue. The county IDA is the grantee of abatements with the city in an advisory role only, so they’ll have the final say on the application of the new law.

5. Tompkins Cortland Community College’s Childcare Center has the funds it needs to move forward. The project, first proposed in February 2016, calls for an 8,000 SF, $4 million building, plus a $1.5 million endowment for operating costs. State funds support much of the cost, as well as a $2 million donation from Ithaca CEO and major TC3 donor Arthur Kuckes, for whom the center will be named.

According to Jamie Swinnerton over at Tompkins Weekly, the project includes six classrooms with two infant rooms, three playgrounds, and be, in part, staffed by students studying to be teachers and childcare providers. 12 jobs will be created, and since it’s for faculty, students and staff, those jobs are expected to be full-time and all year-round. The building is expected to be partially opened by the start of the Spring semester, and fully occupied by the Fall 2019 semester.

Design-wise, the latest design in Tompkins Weekly shows smaller windows and the loss of some hipped roof bumpouts at the rear of the building (older version here). Value engineering noted, but the goal of helping students with children stay in school, and get the degrees they want to build their professional foundations on outweighs any shade thrown at the design changes.

6. Also finally moving forward – Lansing Meadows. There was an 11th-hour holdup for the 20-unit senior housing project when the village expressed discomfort with accepting future ownership of Lansing Meadows Drive, feeling the turns were too sharp and posed a liability. Developer Eric Goetzmann relented and agreed to maintain the road as a private road, and the village board approved the project 3-2; there are still a lot of sore feelings about the often-delayed and arguably underwhelming final proposal. Goetzmann has until July 31st to obtain permits to begin construction, or else the county IDA will recommence seeking clawback reparations from abated taxes, most of which went toward the BJ’s that was built in 2011-12.

7. Let’s slay some inbox rumors. East Hill Village is not cancelled. Nor is Trinitas’ Dryden Townhomes project. I checked with the project teams – both are still active projects. However, East Hill Village is waiting on the town of Ithaca to finish updating its zoning to a more form-based code, and the project will not move forward until that happens.

8. For fun: here’s a Google Docs spreadsheet on how the Ithaca metropolitan area lines up with other metros on new home construction permits since 1980. Key takeways – Ithaca/Tompkins County was in the top 10% of metros in 2017 for multi-family housing permits per capita (30th of 381), but it lags quite a bit in the construction of single-family homes, so its overall rank is only the 64th percentile (137th of 381). Even then, it’s still one of the fastest growing housing markets per capita in the Northeastern United States. 2016 and 2017 have been strong years, while 2015 and earlier were generally well below the national average.

The multi-family number per capita is arguably skewed higher than a typical year thanks to large projects like 441-unit/872-bed Maplewood, but the message seems to be that the community is seeing real results from its push for housing. However, with a lack of single-family being built, Ithaca and Tompkins County need to figure out ways to compensate for what single-family provides (i.e. home ownership). It’s not necessarily “we should build more single-family homes” although that is part of the answer. It’s also encouraging suitable single-home substitutes (condos) in desirable areas while maintaining a strong, steady flow of new units as the local economy continues to grow.

 





Ithaka Terraces Construction Update, 1/2018

26 01 2018

Not much to add here beyond the blurb in the Voice roundup. The Ithaka Terraces are likely to be finished this spring. There is nothing public regarding any sales figures for the ten 2-bedroom and two 3-bedroom units. I’m not sure if another visit is necessary, though maybe if they set up a model unit and don’t mind a nosy blogger, there will be one last photo set.

There’s a lot to like here. As condominiums, they provide an opportunity for home ownership in a city increasing occupied by rentals. With any hope, they’ll be a sales success and encourage other projects to follow suit with their own plans. It’s infill on an fire-destroyed vacant lot, it’s an attractive design, the net-zero energy arrangement is highly appealing from a sustainability perspective, and it’s a few million dollars of property back on the tax rolls (the destroyed property was repossessed by the county, transferred to the city and sold in a competitive bidding process; the first call for proposals attempted to earmark as affordable housing only, but no one submitted bids).

If there any criticism to levy here, it’s not necessarily an issue with just this project, but I’ve had emails calling it gentrification and ‘luxury housing that Ithaca doesn’t need’. But if people are buying here, then they aren’t buying another city property and potentially outbidding someone with fewer dollars to spend. A little additional supply to take pressure taken off the market is welcome. As noted above, the city tried to sell the lot for affordable housing, but it didn’t pan out (not unlike the issues with 402 South Cayuga Street a block away). Additionally, this project is fully taxed, the project team did not seek abatements.

The condos are the work of PPM Homes (Ed Cope), with technical assistance from T.G. Miller P.C. and Taitem Engineering, architectural design work curtesy of STREAM Collaborative, and off-site solar panel installation courtesy of Renovus Solar.

 





Ithaka Terraces Construction Update, 11/2017

23 11 2017

These are turning out quite nice. Building “A” is practically complete from the outside. The plant boxes outside the windows have even been stocked with small ornamentals. About the only thing left are the exterior finishes on the front facade columns. Building “C”, the smaller building to its east, is also nearly finished from the outside. I suspect the wiring coming out of Building “C” just above the parking area is for electric car charging stations.

Building “B”, the other large condo structure, is fully encased in plastic sheeting and wood ribbing. Stucco generally needs to be applied in dry, temperate weather conditions, above 40 F at a minimum. Given Ithaca Novembers, that means McPherson Builder has basically turned the building into a dry, heated bubble so that can apply the stucco properly. Building “D” is still being roofed, and is just getting its windows fitted. It looks like the scratch coat for the stucco is being applied over the water barrier, and the brown coat and the finish coat will come later, meaning that “D” will eventually be bubbled in as well.

Most of the concrete curbs and steps have been formed, poured and cured at this point. The grand staircase will make for a nice shortcut from South Cayuga Street to West Spencer Street.

The marketing material appears to be using the phrase “Arriving here is what you are destined for“. Tje website doesn’t indicate how many of the twelve units are spoken for (if any; the project is in the soft marketing stage, where they’re accepting inquiries but there aren’t any formal real estate listings). The two-bedroom and three-bedroom units go for $299-$434k, depending on size and location.





News Tidbits 11/18/2017: Fears and Hopes for the Future

18 11 2017

1. Here’s an interesting sale – a 62.1 acre parcel on Troy Road sold for $380,000 on the 13th, less than half the original asking price. The buyer, “Troy Heights LLC”, is registered to the same address as Giora and Limor Fix, a semi-retired husband and wife couple who have acquired a number of rental properties around the area over the past decade, with 43 or so units worth something in the ballpark of several million dollars (units are marketed by the Fixes under the name “Homes-for-you Rental Properties”).

The Troy Road property is intriguing because there was a development proposal floated there a few years ago. Rural Housing Preservation Associates LLC had proposed a 130-unit combination of middle-market single family homes, townhouses and small apartment buildings for the site back in 2014; it started as 206 units, the town and neighbors complained it was too big, the project was whittled down to 130, and then the proposal was cancelled by September 2015. Using cluster zoning, the project could have built out 145 units in the low-density residential (LDR) zone, since the town’s cluster zoning allows 2.3 units/acre. STREAM was in charge of the project design, and some of the renders of the never-built apartments can be found here on their website.

So here is a log lot, bought by folks involved in local real estate and with significant assets, under the name “Troy Heights”, which sounds like a project title if anything. I reached out to Giora Fix, and he was kind enough to respond:

“[C]urrently we do not have any concrete plans to develop Troy Road. Once we have them I will be happy to share with you.”

So something to keep an eye on, though it might be a while.

2. Here’s a piece of news from the Times’ Nick Reynolds. With regards to the police consolidation debate, the city wants to have the headquarters downtown on Green Street (likely in that proposed centralized government facility floated for the Central Fire Station site), while the towns would prefer something near the current BPW on the north end of the Northside neighborhood, which offers easy access to Route 13. Consolidation is still a rather unlikely prospect at this time, and there’s little enthusiasm from the more rural parts of the county. But it sounds like the sheriff is keen on killing the city’s ideas before they take off.

3. Bad jobs month for the state, good for Ithaca. The Ithaca metro (Tompkins County) added 1,800 jobs (all private sector) from October 2016 to October 2017, bringing the total to 67,800. The 3.2% increase was the largest gain by percentage in the state over the time period. Unfortunately, the state as a whole lost 11,900 jobs last month, which falls even more to 14,600 jobs when taking away those added by the public sector (government jobs). A study from the Federal Reserve Bank last month notes that upstate economic growth in general has been losing steam over the past year, with exceptions for Ithaca and Albany. New York City is performing reasonably well.

While it’s well and good that Ithaca is doing well, I have concerns about the recent tax reform bill going through Congress. With the potential hit to SALT deductions and the taxation of graduate student tuition waivers, I could see significant negative impacts on the local economy. Given that most communities have property taxes in the range of $2500-$4000/$100,000, a cap of $10,000 as proposed by the House would hit many middle-class and upscale neighborhoods hard. A typical home in Ithaca city is worth about $230,000-$270,000 range at this point, and with about $3779 per $100,000 in property taxes, that means that homeowners with properties valued over $265,000 will take a financial hit, close to half of the homes sold. The Senate’s version removes the SALT deduction completely, affecting all local home buyers. Either case would be a severe blow to the home buying market.

Another concern is the taxation of graduate student tuition waivers as proposed by the House plan. Speaking from experience, I had a waiver that saved me about $14,000/year at the public university where I did my master’s. In my case, seeing that taxes would have cost an extra couple thousand in theory, though the doubling of the standard deduction might have limited its impact on me. A Cornell graduate student is looking at $20,800-$29,500, and could see a tax bill larger than any savings from the standard deduction increase. The Senate version does not tax tuition waivers. Another, lesser factor to consider is that the student loan interest deduction for borrowers on-time with their payments would be eliminated.

On a final note, Cornell’s endowment would be taxed an extra 1.4% under the House bill, as would any college whose endowment is worth more than $250,000 per full-time student. Cornell’s endowment is $6.8 billion, and the school has 23,016 students across all campuses as of Fall 2017. That is over the allowed cap of $5.75 billion as calculated by the bill’s guidelines.

The long story short is that Cornell recruitment takes a hit, as does its endowment, and that could impact current employment as well as future hiring. Politics aside, these “reform” bills are definitely a cause for concern from Ithaca and Tompkins’ economic standpoint.

4. A separate note not so much economic, but something many Ithacans care about – the House bill takes away the historic building rehabilitation tax credit. The renovation of 310 West State Street that I reported in the Voice earlier this week would be off the table without them, and the building will likely be demolished if the credits are eliminated. So the impacts aren’t just economic, but perhaps aesthetic as well.

5. This is looking to be a very quiet late November. For the first time in over a year, the town of Ithaca has cancelled two planning board meetings in a row. Meanwhile, in the city, the only “old business” reviews are final site plan approval for the 601 South Aurora duplex, and final approval for the Brindley Street Bridge replacement.

6. So technically, the Request for Proposals went out for the Green Street Garage site. A site tour for interested applicants is scheduled for December 4th, applications are due by January 23, 2018, and no timetable is given for the selection of the preferred developer. The applications are to include a cover letter, application form, description of project team members with relevant experience, proof of ability operate in NYS, good reputation, financial status, marketing plan, tenant management plan, conceptual designs, financing plan and demonstrated capacity to obtain financing, purchase price, project schedule, community impact benefits statement, schedule, and specific concerns (acknowledgement of site issues and plan to resolve them). A $500 application fee is also required.

Obviously, Ithaca Associates LLC has a huge leg up on the competition, since they not only have a plan fleshed out, they own the ground lease under the eastern end of the garage that everyone else would have to negotiate to obtain. About the only legitimate opening to another developer would be for the western and central portions of the garage, though the city’s requests make it such that anyone else interested had better be thinking big with housing, parking, and other site uses. Saying you’d leave things as-is would be an immediate disqualifier. Unless Fox or Lubin are dreaming up multi-story apartment buildings, it isn’t likely many developers will entertain this RFP. This really feels like it’s just the city stalling for time so they can fully absorb the immensity of the 365-unit, $118 million “Village on the Green” proposal.