A 12 million dollar mixed use development that opened in October 2016. Forty eight units with 2,550 ground floor retail, eight 1 bedroom units and 40 2 bedroom units.

Project Data*

Building
Budget: $12,000,000
Studios: 0
1BR: 8
2BR: 40
3BR: 0
Affordable: 4
Total: 48
Parking: 
Stories: 5
Retail Space: 2550 sqft
Occupancy
Residents: 132
Students: 6
School: Lincoln

Jobs
Construction: 
Permanent FT: 
Permanent PT: 
Dates
Status: Approved

Planning Board Approval: 
IDA Approval: 
Constr. Start: 
Length: 
Completion: 10/1/2016
Tax Incentives
"As Is" Tax: $
Full Property Tax: $
PILOT: $
Owner Savings: $
PILOT (yrs): 

Mortgage Tax Exemption: $
Fair Share Mitigation: $

Data Last Updated: 3/28/2019

*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

3/24/2019


3/24/2019


3/24/2019