118 Park is being developed adjacent to  –  and considered the second phase of  – the development known as The Parker (106 Park Ave).   As with their initial site, the developer of 118 Park has entered into an agreement with the Municipality for a 28-year PILOT tax incentive.  

With entrances on Park Avenue, at the front, and Chestnut Street, at the rear, the development is another ‘mixed-use project… consisting of 60 residential units’, 9 of which will be Affordable Housing units for ‘very low, low and moderate income.’ In addition, the project includes 2,436 square feet of commercial Retail space.