Housing Headlines

HOLLISTON --- Last month, Michael Connearney of Mikals Construction Company presented a proposal to the city council to build 12 homeowner units, reserving three units for affordable housing. The 40B development would consist of two buildings with 6 three-bedroom homes in each. Selectmen and Town Administrator Paul LeBeau suggested decreasing the number of units down to 10 and splitting the units into three smaller buildings in order to make the development less dense. Selectmen Chairman Will McColl said he was pleased with the three-bedroom units and thought that they would be "what the market in this town would be interested in."

PLYMOUTH --- Cubellis, an international architecture, interior design, and engineering firm, has been selected by Cordage developers to lead the 40R smart-growth redevelopment of the historic Cordage park property. The Seaport at Cordage will be a multi-use development including 675 residential units in addition to retail, office, and hotel space. Two apartment buildings will designate 25 percent of rental units as affordable, and two condo buildings will reserve 20 percent of their units as affordable. Doug Hartnett , Principal of Development at Cubellis, said, "We are planning a renaissance for this commerce center that will exceed [the town's] expectations and give them yet another reason to feel proud." A master plan of the redevelopment has already earned the town's approval.

LUNENBURG --- Great Bridge Properties LLC developers have received $2.8 million in loans from MassHousing for the first phase of the Tri-Town Landing apartment development. The smart-growth complex will consist of 66 rental units, 60 of which will be reserved for low-income residents. Of the low income units, 52 will be made available to residents that earn up to 60 percent of the area's median income (AMI) and the eight additional units will be reserved for residents earning less than 50 percent of AMI. Tri-Town Landing is part of a smart growth district in Lunenburg that is proposed to include 204 housing units on 8.7 acres at a former drive-in movie theater site.

MARSHFIELD --- Ending a six year battle, selectmen recently reached a settlement with Beacon Ocean Shore Limited Partnership developers regarding proposed senior housing on Ocean Street. The scaled-back project will consist of 97 rental apartments in a single, three-story building. The apartments will remain age restricted with 100 percent affordability guaranteed for the first 30 years, after which 25 percent of the apartments must remain affordable.

WALTHAM --- The city will be holding a meeting soon to discuss dissolving the Waltham Housing Partnership Committee and transferring the funds they oversee to the newly-formed affordable housing trust. Last December, the city council voted to establish a municipal affordable housing trust, which has the power to own and manage affordable housing projects. Councilor Ed Tarallo said that the trust has more power than the housing partnership, can offer longer leases than the city can, and "has a lot more roles."

BOSTON --- The Federal Home Loan Bank of Boston recently awarded more than $10.2 million as grants, loans, and subsidies to fund 390 units of affordable rental and ownership housing in seven Massachusetts communities. Each year the FHLB of Boston commits 10 percent of its net profits to provide grants and subsidized below market-rate loans through its Affordable Housing Program (AHP). AHP funds are used to create or preserve affordable housing and help pay construction, acquisition, or rehabilitation costs. For more information on the awards, visit FHLB of Boston's website at http://www.fhlbboston.com/ahp.