Historically Huntington Station has been a vibrant residential and economic engine for the Town of Huntington, especially since the coming of the Long Island Railroad. We at AvalonBay believe that we have an opportunity to rekindle the vibrancy for Huntington Station’s future. Most recently in Glen Cove, AvalonBay completed the construction of 367 apartment homes in the downtown. From the beginning of construction in 2002 to the completion of lease-up in 2007, Glen Cove experienced a 17% sales tax increase in the downtown. In addition to bringing purchasers into the Huntington Station area, AvalonBay will also have a preferred vendor program for local business.
The new Avalon proposal is in compliance with current Town R-3M zoning. This zoning permits multi-family housing within strict zoning guidelines that regulate density, number of units, and percentage of workforce housing. The benefits of R-3M zoning developments, like the new Avalon Huntington Station, are in many respects superior to single family home developments. In the case of Huntington Station, for example, building on the site 109 single families would cost the school district an estimated $1.7 million per year, as opposed to Avalon’s new proposal that would have a neutral or positive economic effect.
Avalon Huntington Station will consist of 379 residential units – of those 25% of the units will be one bedroom, 48% will be two bedrooms, and 27% will be three bedrooms. This will include 54 workforce housing units.
The revised AvalonBay proposal will generate an estimated $1.8 million in annual taxes for the school district. Given the expected number of additional students as a result of the development, it is estimated that the school district will either break-even or make a modest (approximately $307,000) surplus. Thus, the net tax benefit to the school district will be either neutral or favorable. This compares to an estimated cost of $1.7 million to the school district, should single family homes alone be built in Huntington Station.
AvalonBay is proud of its seven Long Island developments and the benefits their construction has brought to the local economy. Since 1994, AvalonBay has injected $631,253,056 into the local economy through direct investments in vendors, consultants and associations. In addition, these communities have paid approximately $10,000,000 out of their operating budgets to local Long Island vendors in just the last two years.
Based upon RIMS II Multipliers calculations, the new Huntington Station development will have an extremely positive impact on the local economy.
During the construction phase, we estimate:
Once residents have moved in, we estimate:
Avalon at Newton Highlands Lounge