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HomeMy WebLinkAbout20230358 182 Excelsior Avenue Area variance Narrative GREENS P�IGS CAPITAL GROUP LLC PO Box 3207 Saratoga Springs I NY 1 12866 518.504.7767 1 greenspringscapitalgroup.com July 18, 2023 Zoning Board of Appeals City of Saratoga Springs 474 Broadway Saratoga Springs, NY 12866 Subject: Request for Density Variance for the Project at 182 Excelsior Ave Dear Members of the Saratoga Springs ZBA Board, I am writing on behalf of Green Springs Capital Group LLC regarding the density variance for the project at 182 Excelsior Ave. Granting this variance is crucial to ensure the successful execution of our development plans,which aim to preserve the historical significance of the property while providing high-quality housing at attainable rental rates. Our proposed project involves relocating and renovating the historic house and carriage house at 182 Excelsior Ave.We appreciate the importance of preserving the property's historical integrity and recognize the associated costs.To offset these expenses and ensure the project's financial feasibility,we respectfully request a density variance that would allow for increased housing units on the property. The additional density would generate the necessary revenue to cover the costs of relocation and renovation, making the project economically viable.Without this variance,the project would be ineligible for lender financing due to its failure to meet required loan covenants,thus prohibiting our ability to move forward. We are dedicated to providing high-quality housing with attainable rental rates, and securing the density variance will help us achieve both objectives. By striking a balance between respecting the historical nature of the property and creating modern living spaces,we can meet the needs of the community while preserving the property's heritage. We assure you of our commitment to historical preservation and creating a development that aligns with the values of the Saratoga Springs community.We are grateful for the opportunity to present our plans at the recent ZBA Meeting and welcome the opportunity to answer any additional questions or concerns. Thank you for considering our request. We kindly ask the Saratoga Springs Zoning Board of Appeals to grant us the density variance for the project at 182 Excelsior Ave,enabling us to create a development that respects the historical nature of the property and fulfills the housing needs of the community. Brian Green Green Springs Capital Group LLC PO Box 3207 Saratoga Springs NY 12866 O: 518-504-7767 ext. 3 C: 518-810-2895 brian@greenspringscapitaIgroup.com GREENSPRINGS Develop._... ,. ..,��..t ...�..0 � ..�.. , ... .�..,. .m�..d CAPITAL GROUP LLC