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With only Councilman Noble Prettyman absent from the May 25 meeting, Milton Town Council members unanimously approved the White property annexation request that was originally filed in July 2005. The annexation and requested zoning had been recommended for approval by Milton Planning and Zoning Commission.
Speaking for Chestnut Properties during a public hearing that preceded the council meeting, Pret Dyer introduced details of the proposed development. He pointed out that of the 76.05 acres included in plans for Chestnut Ridge development, 14.01 are already in Milton corporate limits. Of the 62.04 acres included in the annexation request, developers sought R-1, single family detached homes, zoning for 37.04 acres, and R-3, single family semi-detached and town homes for 25 acres.
The May 25 vote approved zoning, but does not include a site plan review or approval. A total of 370 residential units are proposed for the 76.01 acres with approximately 26+ acres earmarked for open space. Dyer said the density of 4.87 units per acre is less than that permitted according to Milton zoning ordinances. He said developers are including that density in a voluntary deed restriction that will be imposed in perpetuity.
With the combination of R-1 and R-3 zoning, the gross density allowed by Milton would be 494 total units, or 6.5 an acre. Dyer said developers are focusing on being a good neighborhood addition to existing Milton with an eye to creating a seamless design allowing walking to and from town and public areas within the development. A riverfront restaurant is the only commercial space planned for Chestnut Ridge.
Realtor Joe Reed, an associate in the development, said an economic analysis of the development shows a favorable impact on the town as well as the county and state. Chestnut Properties will pay Milton $496,320 annexation fees, and with build-out, $2,960,000 in sewer impact fees and $536,500 in water impact fees will come to the town. Dyer estimated build-out to be six to seven years.
The town and the state will share approximately $4,440,000 in transfer taxes with projected average unit sale price of $400,000. In addition, there will be various building permit fees to the town and cash flow to the local economy from purchase of construction materials, sales and marketing fees and homeowners’ fees paid to local trades for maintenance of grounds and open and recreational spaces. Following close of the public hearing, the special meeting was convened and a vote approved annexation.
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