Walden officials as well as Town of Montgomery residents gave mixed reviews of Falcon’s Rest during a public hearing at last Wednesday’s Town of Montgomery IDA meeting.

Walden Construction Enterprise LLC of Chestnut Ridge proposes the development of Falcon’s Rest at 120-126 North Montgomery Street in the Village of Walden.

The project includes a single three-story, 69-unit housing rental apartment building with 68 apartments for people ages 55+ and one additional unit for a caretaker. The project also includes the conversion of an existing building on the property to be used as an office for the senior housing building and use of an existing garage as a maintenance shed.

Walden Construction is applying to the Town of Montgomery IDA for certain tax exemptions in order to make the senior housing units reasonably accessible to the residents of the Town of Montgomery and the Village of Walden. The estimated value of these tax exemptions are: New York State Sales and Compensating Use Tax ($820,442); Mortgage Recording Taxes ($90,000) and Real Property Taxes ($902,226).

The 2019 updates to the Village of Walden’s Comprehensive Plan recognize the need for senior housing and other amenities geared toward people age 50 or over. Using 2016 American Communities Survey data, the plan argued: “Walden’s population by age group is comparable to that of Orange County. Roughly 28 percent of the village’s population is 50 years of age or older. As this population ages, services to meet the needs of its senior population will grow.” The decrease in the percentage of people aged 50 and older between 2016 and 2019 suggests that goal has not yet been met.

The Comprehensive Plan further recognizes the local need for senior housing. In the section on zoning, it notes that in six of the 15 zoning districts there are provisions for special use permits specifically for senior group housing use. Senior housing categories were added to the zoning law in the 1980s and 1990s but development has been limited.

Construction costs for the Falcon’s Rest project are expected to be just shy of $12 million. The proposed purchase price for the parcels the complex is proposed on is $1,787,500, giving an overall estimated project cost for land acquisition and construction of $13,768,000. Annual costs of financing and expenses for furniture, office equipment and gym equipment bring the project total to $14,788,000.

The project developers plan to include amenities at Falcon’s Rest, which will make it a desirable facility for senior living. The project includes a game room, exercise room, library and social hall as well as more traditional amenities such as self-service laundry. The location of the project will provide a pedestrian connection to downtown and the developers additionally plan on-site walking paths, trails and gardens.

The monthly rent for units is estimated at $1,700, above the rate for the older River’s Edge complex across the street, which has fewer amenities and is on par with the highest priced units at Bluestone Commons in nearby Maybrook.

Village Manager John Revella noted that overall Walden is in favor of the project.

“Personally on behalf of the village, we’re in favor of the project in general,” he said. “We were delighted to hear from the developer when they first came to the village about coming and starting the senior housing project that is much needed in our community.”

In addition to the need for senior housing, Revella stated that the board is in favor of the pedestrian connection to downtown, as it could encourage tenants to shop locally. He added that the community was encouraged because many seniors need housing. Some local senior housing complexes have 1-3 year waiting lists.

However, Revella noted that the village is not in favor of the developer’s request for a payment in lieu of taxes (PILOT).

“To put the burden on the rest of the taxpayers for services that are gonna be in that community isn’t fair to the rest of us,” he said.

Walden Mayor John Ramos further underscored the negative impact the PILOT would have on the village.

“There’s 21 PILOTs in the Town of Montgomery and Walden doesn’t have any,” he said. “The reason why is because we are a small village. We look for these types of taxations to aid the development of our village.”

Ramos looked at both Walden and the Town of Montgomery’s comprehensive plans. He did not see one statement in either plan that allowed a PILOT in Walden’s jurisdiction.

Ramos added that the average male social security benefit recipient receives $1,700 a month while the average female benefactor earns $1,400 a month. He contends that those senior citizens will not be able to afford to rent one of the apartments at Falcon’s Rest.

“How are you going to live in a brand new residential place when you have to pay $1,700 in rent,” Ramos said. “I have an issue with that.”

In closing, Ramos noted that the project is not usable for the Village of Walden.

“We’re in for the project but we’re not in for the PILOT,” he said. “And I speak for the entire village, our entire village board that it’s not a fit.”

Walden resident Mary Ellen Matise agrees with Ramos on the rent being unaffordable for seniors. She also disagrees with the PILOT the developer is asking for.

“I’m asking you to vote no on this PILOT along with the board members who represent me,” she said to the IDA.

Town of Montgomery IDA Chairman Jeff Crist closed the public hearing on Falcon’s Rest but kept the written comment session open for 10 calendar days. Those with comments on the project can contact the IDA’s executive director Conor Eckert at executivedirector@montgomeryida.com. The IDA will take into consideration all the comments made and will deliberate further at a public forum to be held at a later date.

“Thank you all for coming out and stay tuned,” Crist told town residents.