December
12
2008
WALTHAM --- The Waltham Alliance to Create Housing (WATCH) recently requested $1.2 million from the city's Community Preservation Act fund to acquire the site of a former restaurant on Main Street and convert it into affordable housing. WATCH, working in partnership with New Atlantic Development, plans to build a three-story wood-frame building with 24 rental units. All apartments would be affordable to families earning less than 60 percent of the area median income, currently $51,480 for a family of four in Waltham. The developers hope to receive assistance in the form of low-income housing tax credits and neighborhood stabilization funds from the state. The CPA committee has tabled the loan request until they receive more information about how the development would impact traffic and area schools. For more information about this or any other WATCH project, visit their website at www.watchcdc.org