Builder drops condos in favor of townhomes
Keystone Builders has altered its plans for the Verstandig’s Florist property on Delaware Avenue to build townhomes instead of condominiums. The local company this week submitted plans to the Town of Bethlehem Planning Board for a 27-unit development.
Keystone gained approval for its 40-unit condominium project in March of 2009, but never put shovels in the ground. There were several obstacles, said Keystone owner Steve Bolduc, including limited options for condominium financing in today’s economy. But the most daunting was that people just weren’t committing to the condos.
They had reservations about things like living over the home of someone else or living under someone else, Bolduc said.
They also worried about having only one garage available per unit, he continued.
The townhomes would be considerably larger than the condominiums at 2,188 square feet. All would have two garage bays, with space in front of each to park another car. The units would be three bedrooms with master bedrooms on the ground floor, and include fireplaces, den space and a full basement. Each would also feature a small covered porch area.
The townhomes would largely be in double buildings, though there are two triple buildings and one single unit in the plans.
They’re a luxury living design, said Bolduc, and would likely be priced in the high $300,000s to low $400,000s.
Keystone hopes to get started on building this year, or the early spring at the latest. The desire to move quickly is understandable since the project was first announced in February of 2008. The schedule will be helped by the fact the switch to townhomes won’t significantly impact the layout of the development.
`In general, we’re trying to keep the plan as similar to what was previously approved as possible,` said Mike Tucker of Inifinigy Engineering. `From a site plan standpoint, it’s virtually the same project that was approved before.`
The applicant will have to make a new detailed plan for utility services to the 13 buildings, and also take the application back to the Albany County Planning Board. The town is treating the new plan as an amendment to the previously approved one and not a new project entirely, which should cut down on the complexity of the review process.
`It’s been reviewed for a couple of years now, so I think the board has been pretty aware of it,` said Director of Econominc Development and Planning Michael Morelli.
The Verstandig property has not been sold to Keystone yet.
Bolduc said the development would be built in one motion, not in phases.
`We’re going to get the infrastructure in there, get a model in there and start selling,` he said.
Condominiums have been abandoned in other projects in town. In June, Capital Development Group converted its plans for Hamden Woods, a condominium project in South Bethlehem, to consist instead of 66 twin home units. The developer cited a tight market for condominium financing.
On the other hand, Russell Road Partners is moving forward with a 52-unit condominium development in North Bethlehem called Blessings Corner.“