Representatives from the Engel Burman Group, which is under contract to purchase the 37-acre property on Elwood Road, will discuss their plans to seek a zone change to turn the site into a two story, 482-unit condominium community for 55+ owners at the Elwood Board of Education meeting on Thursday. The land, which is currently zoned R-40 residential but has a variance for commercial use, would require a zone change to R-RM.
The meeting will take place at 7:30 p.m. at the . Elwood BOE said in a district-wide message on Monday that they will share the public's input with the Town of Huntington.
Each 1300 square foot unit at the proposed "Seasons at Elwood" development would consist of two bedrooms and two baths. Amenities would include a clubhouse and recreational facilities, a gym, an indoor and two outdoor pools, tennis courts and a jogging track. Parking would be open air, and there would be a guard at the security gate 24 hours a day.
Estimated sale prices for the units would range from $435,000 to $500,000, with estimated taxes of $5000. However, due to affordable housing regulations, approximately 80 units would be priced at $322,000. Estimated maintenance charges would be approximately $300 per month.
The Elwood School District could potentially see an influx of $1.7 million in taxes, though residents harbor concerns over waste water treatment and traffic impact on Elwood Road. Read our past coverage for additional details on the project.
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