Press Releases

FOR IMMEDIATE RELEASE:
Contact: Edward Patanian - 674-8176
Or - Bill Schwarz - 388-6749

MIXED USE DEVELOPMENT PROJECT
ANNOUNCED FOR TOWN OF SAND LAKE

Multi-million dollar project a blend of commercial, residential, and recreation elements

SAND LAKE, N.Y. (March 12, 2001) - EJP, Inc., a Rensselaer County-based developer
and realty firm, has announced a comprehensive, mixed-use development project for the Town of Sand Lake, off NYS Route 43.

In what Edward J. Patanian, president of EJP, Inc calls a "community center" or "main street" model, the plan calls for the establishment of numerous businesses, single-family and senior residential units, and recreation areas linked together in a traditional pattern with sidewalks and pedestrian-level lighting. The project will also feature hiking trails, ponds, and open space surrounding the Bon Acre development.

Mr. Patanian will present the plan, called the Bon Acre Hamlet project, to Town officials and the general public on March 28 at 7:30 p.m. in the Averill Park High School cafeteria. He will be joined by representatives of Behan Planning Associates, LLC and Lawrence E. Howard, Esq., the Bon Acre Hamlet project planning team, to discuss the project and answer questions from the audience. The informational meeting is free and open to the public.

"The Bon Acre Hamlet will compliment the existing hamlets of Sand Lake and Averill Park," Patanian said. "It will achieve a number of important economic and quality of life objectives, including enhancing the tax base, providing much-needed commercial and housing opportunities, as well as enhancing the public's access to recreational areas. The project promises growth at a reasonable pace, and, just as importantly, it is sensitive to the needs and concerns of the Town."

According to Patanian, in Phase I (completion date estimated 2007), the Bon Acre project will provide 60 to 120 new jobs, and up to 400 over the next 10 to 20 years. New construction is valued at $7 to $10 million in Phase I, and up to $60 million over the next 20 years.

The project, in all, includes 92 acres, about 45 acres of which is slated for open space and recreation areas. The plan calls for a significant parcel of land being reserved for playing fields for the potential future use by the Averill Park School District; Averill Park High School borders the Bon Acre Hamlet project area.

Phase I includes the construction of 12 mixed-use business/residential buildings (businesses with second-floor apartments), and up to 15 single-family houses. Phase II includes additional mixed-use business/residential units; Phase III calls for the construction of senior housing units; and Phase IV includes the construction of 12 additional single-family homes. Further, the implementation of the Bon Acre Hamlet project will establish a comprehensive set of design standards for the entire development area.

For more information on the March 28 meeting or the Bon Acre Hamlet project, call 674-8176 or Lawrence E. Howard, Esq. at 674-4408.