The meeting started seven minutes later than planned, waiting for all members of the committee to arrive. The committee was looking to come up with some concepts and ideas about the condo complex that is going to be built. Kevin Bunker (right, above) , a principal of Developers Collaborative, has rights over the town-owned property. Bunker is working with Deep Cove, LLC in designing and reconstructing the old mill. Bunker stated, at least three times that “good designs last”.
The building itself will be four floors, with twenty-four units. Unites will separated, the middle of the building will be for the affordable spaces, while the other will be slightly more expensive. The condos will have reasonable prices, available parking, units are all going to have a water view of Stillwater river, and large windows. The roof of the building will be flat, thus able to hook up solar paneling. For each unit, they will have their own mailbox (located in the lobby) and a deck attached to the outside of the units. Deep Cove, LLC wants to use some of the old materials on the mill itself, such as: good bricks, granite sills, and some of the old architect outside and in the mill. These recycled pieces would bring the homing feeling to the complex and make it look like another part of the historical town.
Clean-up of the area will be mostly put towards the banks of the river, and the old coal storage areas. The coal storage building will be capped with fill recycled from the building when construction workers tear down the mill. Bunker estimated that it would take four weeks to tear down the mill, and if worked at constantly could have the complex up in ten months.
Deep Cove has not hired any engineers yet for the project, but has designed it themselves for the financial rolls and needs of the town. Bunker explained that, “this drawing right now is only three percent of the full plans of the complex”. Bunker has already put a lot of his time into the project, and cutting his own wages $3,000. Taxes from the year are going to be put into building of the complex. The town is seeing that the project would take in $108,000 per year, or 15 percent of taxes. Expenses would be made to the designers and labor, which would be 85 percent of the total money in the project. The project would then pay the town back 22 percent all expenses will be paid at a later date. Money that is coming from the condo business itself will cover a good portion of the cost to build, or so the town hopes. The project itself is looking to be a 1.6 million dollar ordeal. The project is going to help bring back the financial need of the town in approximately 15 years.
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