Developer David L. Ulrich has submitted plans for what he calls "the biggest project ever proposed in the Town of Lockport."
It's a 154-lot residential subdivision on 92 acres of land on the east side of Beattie Avenue opposite Charles Upson Elementary School.
"It would be the highest assessed-value property in the City or Town of Lockport," Ulrich said. "The assessed valuation would be greater than Delphi."
The city lists a $23 million assessed value on the Delphi plant.
The plans on file at the town building inspection office call it the Cedar Creek Subdivision, but Ulrich said he hasn't chosen a name.
It's on the Planning Board's agenda for initial review at 7:30 p.m. Tuesday in Town Hall, 6560 Dysinger Road.
The subdivision would extend west from Ulrich's existing Lock Haven Drive development to Beattie Avenue. Eastwood Drive would be extended south to provide another entrance to the new community, and Piper Lane, which runs off Lock Haven Drive, also would be extended.
Ulrich said he and co-owner Timothy Mulvey of Mulvey Construction Co. plan to erect what Ulrich called "patio homes," but they might be sold and assessed as condominiums. "It would be determined by what was best to ensure the success of the development," Ulrich said.
In the case of condominiums, Town Assessor Kevin M. Van Dusen said the state attorney general's office has to approve the application, and it must be sold by prospectus, as if it were a share of stock. In effect, that's what membership in a condo homeowners' association is.
Van Dusen said, "It's a long, drawn-out process, and it's pretty expensive from what I understand, but it's an attractive investment for people to know they're going to get a long-run tax advantage."
There are 164 condo units in the Town of Lockport now, and 36 of them are in the Ulrich-Mulvey Lock Haven Drive development.
The one-story homes they plan to build off Beattie Avenue would rest on lots averaging 60 by 125 feet, and the houses would be under 2,000 square feet, Ulrich said. "We haven't developed a definitive sale price," he said. But in order to have an assessed value greater than Delphi's, arithmetic shows the average would have to be a shade under $150,000.
Ulrich denied the town would be harmed if the houses are sold as condos. "There are no tax implications. Right now it's assessed as farmland. The town, the county and the school district can only win," he said.
Ulrich said he and Mulvey paid $200,000 for the property sold by the heirs of the former owners, veterinarian Ralph W. Lewis and farm equipment dealer Harvey H. Pfennig.