Wilder Balter Partners,...

Wilder Balter Partners, Inc.

Wilder Balter Partnerswww.wbhomes.com

• Cross Creek, Cortlandt Manor

• Stone Creek, New Castle

• Jacobs Hill, Cortlandt Manor

• Bridleside Apartments, North Salem

• Roundtop Commons, Montrose

• Pinebrook Condominium, Larchmont

• Hearthstone, Goshen

• Hemlock Ridge, Livingston Manor

• Heritage Pointe, Staatsburg

• Hillcrest Commons, Carmel

• Livingston Arms, Poughkeepsie

• Stone Hill, Washingtonville

Hudson Valley Affordable Communities

• Woodcrest Estates, Port Jefferson

• Stonecrest, Brewster

• Hughson Commons, Carmel

Hudson Valley Communities / Affordable component

• Westwind, Croton-on-Hudson

• Woodcrest at Leonard Park, Mt Kisco

• Quarry Pond, Philipstown

• Chappaqua Crossing Apartments

Stone CreekNew Castle

Completed in 1995

Stone Creek

Berenson Decision Site – Decision helped ease the regional housing crisis by forcing towns to include provisions for moderately priced units in zoning laws; mandated that towns had to consider regional housing needs and provide for a “balanced and integrated” community by including MF housing

26 two family homes for households with incomes at or below 80% of AMI

Homes sold for an average of $160,000 for the two family home (including the income producing apartment)

The 26 apartments all have 1 bedroom and rents and incomes were based on 60% of AMI

Woodcrest at Leonard ParkMount Kisco

Completed in 2006

Woodcrest at Leonard Park

Woodcrest at Leonard Park

124 units on 25 acres– 90 affordable and moderately priced senior

condominiums - achieved affordability component through higher density than zoning compliant single family homes

• 66 one & two bedroom condominiums sold for

$171,000 and $211,000 – 80% of AMI – no subsidies

• 24 two bedroom moderate income condominium

units sold for $276,000 – no subsidies

• 34 luxury semi-attached homes in Glassbury Court

section sold for an average of $900,000

• Westchester Land Trust has a conservation easement

of the 8 acres in the middle of the site

Jacobs HillCortlandt Manor

Completed in 2007

Jacobs Hill

Jacobs Hill• 35 acres property located in Town of Cortlandt

• 160 senior units

– Site was zoned for 45 single family homes. Worked with Town to obtain Special Permit to allow for 161 Moderate and Affordable homes with shared Clubhouse, open space

– 102 unit rental community (plus a super’s unit) at 50% to 60% of AMI

– 58 unit condominium community at 80% AMI

– 50% of the property was preserved as open space

Quarry PondPhilipstown, NY - Putnam County

Completed 2015

Quarry Pond – Workforce Homes

Quarry Pond

• 90 homes on 80 acres

– 10 “Workforce” priced, LEED Certified homes sold for $285,000 at 150% of AMI – with no grants

– 80 active adult semi-attached LEED certified homes

– 40 acre park built and given to Philipstownas a town park

– Former gravel min zoned for Single Family; worked with Town to rezone property to allow for combination of Workforce and Active Adult housing

Roundtop CommonsMontrose

(FAAH Development)

Completed in 2012

Roundtop Commons

• Developed Roundtop as a result of the Triglia Decision

• 92 one and two bedroom Fair and Affordable rental apartments under Westchester County settlement

• Rents and incomes based on 50% and 60% of AMI

• 15 apartments had priority lottery for Veterans

• 8 apartments had priority lottery for Town Workforce

Bridleside Apartments

North Salem

(FAAH Development)

Completed in 2012

Bridleside Apartments

Bridleside Apartments

• Continental Builder’s Decision – forced creation of MF zoned sites

• 65 one, two and three bedroom Fair and Affordable apartments that met FAAH requirements of Westchester County settlement

• Rents and incomes based on 50% and 60% of AMI

• Public Private Partnership resulted in Win-Win– 65 Fair and Affordable Apartments

– New Town Highway Garage adjacent to Bridleside

– Renovated Former Highway Garage into Municipal Building for Police and Town Court

Pinebrook CondominiumLarchmont

(FAAH Development)

Completed in 2016

Pinebrook Condominium

• 51 Fair and Affordable Condominium homes under Westchester County settlement

• Built under the NYS Brownfield Clean-up Program

• Available to households at up to 80% of the County AMI

• Sale Prices ranges from $155,000 to $241,000

• Satisfied the village’s obligation to pursue 35 units of workforce housing as part of a $2.55 million grant the village received for improvements to Flint Park

Chappaqua CrossingChappaqua NY

(FAAH Development)

Under Construction

Chappaqua Crossing

Chappaqua Crossing

• Adaptive re-use of the iconic former Reader’s Digest building totaling 64 apartments – 25 Market-rate, 10 Town Workforce and 28 Fair and Affordable (and 1 super’s unit)

• 28 Affordable are part of the Westchester County settlement / Rents and incomes based on 40% and 60% of AMI

• Worked with the Town to change this from 28 FAAH apartments in two of the four levels of the building to 64 mixed income apartments spread throughout the whole building

• Town expedited the approval from 28 to 64 apartments.

• Development is part of larger 117 acre development that will include Whole Foods, Lifetime Fitness, other retail, 400,000 SF of office space, 91 townhomes and walking trails.

Moving ForwardWhat Techniques Have Worked In Our Developments?

Developing in areas where legal decisions have created a requirement or mandate for multifamily / affordable housing

Requiring a % of developments to be affordable or to provide a parcel of land for affordable housing

Offering density bonuses for developments that incorporate a % of affordable housing

Creating overlay districts that allow denser developments than the underlying zoning would otherwise allow

Work with the Town to create a win-win for both parties

Wilder Balter Partners, Inc.