LAKE GEORGE, N.Y. (NEWS10) – Along Sun Valley Drive, just off East Shore Drive, Lake George Elementary School sits, in a bit of respite from the bustle of the village of Lake George’s nearby main street. Soon, the school may have a new neighbor.
On May 2, the Warren-Washington Industrial Development Agency will hold a public hearing over Zoom and YouTube livestream for input on Sun Valley Apartments, a proposed set of five two-story apartment buildings that would provide housing to members of the area workforce. The project would provide 39 2-bedroom housing units for families with members who work for businesses around Lake George during the busy tourist season.
The town planning board has already approved the site work and plans. Project heads Richard Askew and Mike Grasso are asking the IDA for help overcoming the financial hurdles of tax and construction costs.
“One of our biggest dilemmas lately is that the cost of materials has gone up drastically,” said Askew during the IDA’s meeting on April 18. “That’s one of the top reasons we’re here.”
Although the target resident base is based around the largely seasonal world of Lake George area businesses, Grasso and Askew will be seeking year-round residents and families. Rent will be set at $1,300 per month, on one-year leases.
As far as the costs that need help, the property – directly across from Lake George Elementary School – has seen a change in mortgage interest, shooting from 3.25% up to 4.76%. The IDA grants abatements to businesses or projects that are seen as bettering the general economic and business state of the surrounding region.
So far, the level of resistance to the project has been low. Askew said that outgoing Lake George Superintendent Doug Huntley had submitted a letter in support of the project, and said that other neighbors have vocally supported the project. The owners say that there would be no seasonal units rented, to avoid disturbing full-time homes.
In a place where more seasonal housing is always welcome – and can be a way for homeowners to make some extra cash – concerns will arise. IDA Chairman Dave O’Brien asked if there was any chance of renters subletting their homes to take advantage of their proximity to the lake.
“That’s not going to happen,” said Askew. “Our leases are not going to allow to sublet. That’s not anywhere near our plan.”
Askew gave further verbal assurance that subletting would not be allowed to occur. Mike Wild, another IDA member, said that he would like to see an assurance in writing.
The public hearing will run from 4-4:30 p.m. on May 2. IDA meetings are streamed on YouTube, and saved there after the fact.