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Developer seeks tax incentives from COMIDA for Perinton apartments
A rendering of the proposed Hartwell Heights development in Perinton. (File rendering from the application submission to the town of Perinton Planning Board)
A rendering of the proposed Hartwell Heights development in Perinton. (File rendering from the application submission to the town of Perinton Planning Board)
Developer seeks tax incentives from COMIDA for Perinton apartments
The developer of a small apartment community in Perinton is seeking tax incentives from the County of Monroe Industrial Development Agency, saying conforming to town, neighbor and preservation board requests significantly impacted project financials.
WDG2, LLC, an entity owned by developer Dennis Wilmot and homebuilder James Barbato, has submitted an application for assistance to COMIDA for $1.6 million in tax abatements on the $10.6 million Hartwell Heights project.
WDG2 intends to create 24 higher-end apartments across seven new buildings and one existing structure at 589-597 Pittsford-Victor Rd. Rents will range from $2,900 to $4,000, according to the application.
A public hearing is set for 10 a.m. Wednesday at Perinton Town Hall. COMIDA members are expected to vote on the application at the July 21 board meeting.
Hartwell Heights will help address the shortage of housing in Perinton, according to developers, who in their application say occupancy of single-family houses and apartments in the town stands at 96.7 percent.
The project will include four one-bedroom units, 16 two-bedroom apartments and four three-bedroom units. The number of units was reduced by 20 percent after neighbors and town officials expressed concerns about density, according to the application.
“Maximum building heights, massing and greenspace requirements per code would have permitted 20 to 25 percent more units,” the application states. “However, the vocal opposition, which would have preferred the parcel to be untouched in spite of the zoning, was persuasive enough to have the density reduced.”
Additional scrutiny from the Historic Architecture Commission pushed project costs higher, the application says.
“This project cannot proceed without the requested benefits,” the application says. “The costs to secure entitlements far exceed budget in spite of the allowed use and density.”
WDG2 seeks a $392,000 sales tax exemption, $60,000 mortgage recording tax exemption and a property tax exemption of $1,150,781 over a 10-year PILOT agreement.
An analysis by MRB Group shows the project has a benefit to cost ratio of 8:1.
Because of a county-wide shortage of apartments and homes for sale — coupled with the impact that available housing has on economic development — COMIDA now allows tax incentives for housing-only projects that don’t include an affordable component.
[email protected]/(585) 653-4020
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