| The Village of Pelham is currently reviewing a proposal by Ginsburg Development Corp. to redevelop certain industrial properties and vacant land on First Street, just off Fifth Avenue and two blocks from the Metro-North train station. The proposal currently calls for a 58-unit condominium building and ten townhomes. The Village held more than 10 public meetings to solicit and obtain community input. Following these meetings, the Village negotiated a 20% reduction in overall size of the project. The project has undergone review under the State Environmental Quality Review Act and is currently under site plan review by the Village Planning Board, Architectural Review Board and Village Board of Trustees.
If the project goes forward, it will pay an estimated $800,000 per year in property taxes versus current payments of $120,000 per year. In addition, the Village will obtain additional land for resident, commuter and shopper parking near the heart of downtown.
Links to more information:
Friedland Realty, broker for seller
Ginsburg Development Corp website
Below are images of what the redevelopment will look like.
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