Will this project add many students to the school system?
No, based on comparable projects, three students will be added to the school system, and some of those may have already been in the district.
I heard that some people can qualify for a $3,000 month apartment rent. How do I know if I qualify?
To qualify for a $3000 per month apartment the resident must make at least $108,000 per year (the average household income in comparable Cornerstone properties is over $156,000 per year).
How will this help Downtown Kings Park?
Discretionary spending will be over $2 million from the tenants annually. This money is often spent locally, frequently within walking distance. Restaurants, shops and local businesses will all benefit from the additional residents in downtown. For example, in Farmingdale, vacancies went from 23 in the downtown district with a Hookah lounge and tattoo parlor as the new merchants, to only 2 vacancies with Starbucks, steak houses, and other high end merchants arriving in the wake of the development at their train station. Their commercial rents surged from $13 per sq. ft. to over $30 per sq. ft., allowing owners to reinvest in their businesses and secure downtown revitalization grants for façade improvements.
Will this create too much traffic?
Cornerstone residents do not have to drive to get to the downtown or the train so they do not strain traffic at peak times, nor do they utilize public parking.
Will this help the local economy?
Yes, the current site is an empty restaurant and parking lot. Numerous construction jobs and permanent jobs will be created, and those workers will spend money locally as well.
What sustainability efforts will go into this new building?
- High density insulations
- Energy efficient fixtures and appliances
- LED lighting
- Triple pane windows
Will tenants have parking spaces?
The overall site will have 148 parking stalls, 15 more than currently exist thanks to replacing the restaurant, which can be a parking intensive use, with 50 luxury apartments.
Will residents have public input to the process?
Yes, there will be a public hearing process, and we will be hosting a Community Open House on December 7, 2023. We want to hear your feedback!