Condos for Oaktree Dairy Property
Last month there was a proposal unveiled by Engel Burman Group, represented by attorney Michael McCarthy, to convert East Northport’s Oaktree Dairy into a condo community that would have 482 units on the 37 acre property. The project is expected to cost $250 million. It is to be targeted at the 55-and-older market. The plans call for a 20,000-square-foot clubhouse with indoor and outdoor pools and units priced in the $450,000 range.
The property is in Elwood School District which has the smallest tax base in the Town of Huntington. It is hard to believe that this district could handle the increase in school age children that a 482 unit complex would add if there is no written and signed stipulation that children would not be allowed to live in these units. It is claimed that the Elwood School District might see an influx of $1.7 million in taxes. The Dairy currently currently pays $110,000. That $1.7 million would cover about 77 students a year at $22,000 each. If there are more than that in will be tax negative for the district.
The land is zoned R-40 residential but has a variance for commercial use. In order to build this proposed project it would require a zone change to R-RM.