Developers hope a proposed housing development’s proximity to Elm Avenue Park will make it attractive to apartment seekers.
The development is being proposed as a joint project between Klersy Building Corporation of Delmar and Prime Companies, a real estate marketing and management group. The Klersy family owns the property at the corner of Shanks Place and Elm Avenue. Representatives for both companies went before the Bethlehem Development Planning Committee to informally discuss the plans for Park Place on Thursday, Sept. 20.
“It’s a very desirable location, being across from the park,” said Dean Devito from Prime Companies. “And there’s easy access to Albany, so there are a lot of good features.”
Park Place would consist of 265 apartments or condominiums to be built on the 46.6-acre parcel. The development would also include an office, community room and several new roads and sidewalks. Each building would house six to nine units and include an attached garage. The design also calls for at least one other parking stall per unit.
Devito said Prime Companies has developed five other properties in the area of a similar design. Occupancy rates at all buildings are in the 90 percent range, he said.
Within the developments, about 5 percent of the units are specially designed and furnished through Marriott as ExecuStay apartments. The units are targeted to people traveling on business who may have to stay in the area for several months, but may not wish to stay in a hotel for such a long period of time. The units are meant to feel more like home.
“It gives you a different clientele,” said Devito. “It’s more upscale and helps with the occupancy’s marketing. There are essentially two different products in the same place.”
The plans are in the early stages. Devito said it is not clear if the development would ultimately be made up of apartments or condominiums. The company usually asks for approval on both, but then decides which to build depending on the market at the time of construction.
Because of density issues, the developers are looking to change the property’s zoning to go ahead with the plan. This will eventually need approval from the Town Board.
Mike Morelli, the town director of economic planning and development, said the property is zoned for single family homes. The property’s zoning would need to be changed to allow for a planned development district. The Town Board would have the flexibility to allow up to eight units per acre. The preliminary plan calls for approval of the maximum allowable units.
DPC members called into question the need for another planned housing development in Bethlehem. Although the town’s comprehensive plan calls for more diversified living options, five apartment or home developments have been approved in the last several years.
Devito said people are less inclined to purchase homes in today’s market, meaning the developers expect the units to be highly sought after.
Deputy Police Chief Tim Beebe, who sits on the committee, agreed. He said from police observations such developments have been very popular within the town and he does not see that ending in the near future.
Park Place would be build within the Delmar fire, water and sewer district, and within the Bethlehem Central School District. Devito said it would still be some time before the plans are ready to go before the Planning Board.
“We have to take the comment we received and redesign the plans a little bit. Right now, we’re going in baby steps,” he said.