'Homesteads on Grand' planned at site of former Philly Sales in Johnson City. What we know
A $31.2 million affordable housing project is on the way to Johnson City.
Regan Development Corporation is planning to construct a four-story, 72-unit apartment complex on a vacant stretch of land at 333 Grand Ave. and 154 Allen St.
The 4.1 acre site is being purchased for $1.1 million from Johnson City, which put out a competitive request for proposals seeking development projects. Johnson City Mayor Martin Meaney said Regan’s proposal stood above the rest and fit a need for more affordable housing in Broome County.
“Since the pandemic it seems like nobody has any place to live. It’s county wide,” said Meaney. “This is going to be a good project. It’s workforce housing with a day care component proposed for the retail space they’re building.”
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What to know about the new Johnson City apartments
The development, dubbed “Homesteads on Grand,” will offer 27 one-bedroom apartments, 41 two-bedroom apartments, and four three-bedroom apartments. The project is targeted toward “workforce housing;” residents can make up to 80% of the area median income.
Monthly rent will range between $763 and $1,350, including utility allowances of $60, $66 and $74 for one, two and three-bedroom units, respectively. Eleven units will be adapted for residents with mobility, hearing and/or vision impairments. WiFi will be provided. Regan Development said the units will feature “high quality finishes and amenities.”
The building will include two elevators, laundry rooms, a community room with a kitchen, a management office and storage. The grounds will feature a playground and 158 parking spots.
The construction will leave 6,200 square feet of non-residential space that Regan aims to turn into a day care center.
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What support is the project receiving?
Regan Development has requested tax breaks from the Broome County IDA, including sales, mortgage and property tax exemptions totaling over $2.8 million. The project is the subject of a 30-year PILOT agreement, with payments rising from $12,658 in Year 1 to $120,725.08 in Year 30.
The property assessment, currently $9,800, will increase to around $2.5 million when the project is completed, according to the IDA. ARPA funds are being utilized to support the project to the tune of $800,000.
A public hearing on the PILOT is scheduled for 5 p.m. Thursday at the village hall.
When could the project start?
Regan Development is pursuing low income housing tax credits from New York State Homes and Community Renewal to support the project.
The company currently projects starting construction in 2024 and opening to tenants in September 2025.
Property was site of Philly Sales store
Homesteads on Grand will connect two vacant properties that have been off the tax rolls. The land was once the site of a Philadelphia Sales store. It was later acquired by UHS, which razed the structure and eventually sold the property to the village.
Meaney said the project will continue momentum for Johnson City’s housing stock and complement the market rate housing project at Victory Lofts.
“It’s good to see it moving forward,” said Meaney.
This article originally appeared on The Evening Tribune: Affordable housing planned at former Philly Sales in Johnson City
