Housing Headlines

With housing supply low and prices on the rice, the Massachusetts housing market is under stress, a problem that is being exacerbated by a rise in short-term rentals, especially by commercial entities owning multiple properties.

NEWBURYPORT --- On a site that Mayor Donna Holaday called "a massive junkyard forever," developer Hall and Moskow Corp. gathered with city and state officials on Friday, May 18 to break ground on a seven-building, mixed-income 48-unit first-of-its kind development solar power, homegrown agriculture, shared electric vehicles, secure bicycle storage, charging stations, recycling and composting, among other green techniques. Clean up of the site was supported by a $400,000 loan from MassDevelopment. The project will include some affordable housing as the developer is teaming with the Newburyport YWCA to create a 10-bedroom, single-room occupancy home in one of the buildings.

HAMILTON --- Harborlight Community Partners' repeated attempts to build affordable housing off Longmeadow Way near the regional high school may be facing another legal challenge as owners of abutting land plan have reportedly indicated they will sue if the North Shore nonprofit proceeds with plans to build 40 apartments. The land owners have previously tried to sell their land to Harborlight or the town.

TRURO --- With land from the state Department of Transportation now in hand, Truro is beginning of the conversation of how to turn the land into housing, with the select board recently adopting guidelines on how to put the land out to bid for the development on mixed-income housing. The Massachusetts Housing Partnership has provided the town with $7,500 grant to do an initial feasibility study as to what can be built on the site, which is in North Truro and very near other affordable housing built on town land. (Sally's Way).

LYNN --- Hoping to catch the development wave it sees happening in Somerville, Everett, Chelsea and Medford, the City of Lynn is excited about Procopio Enterprises of Saugus' plan to build 189 market-rate apartments on a former Munroe St. parking lot site. Co-owner Michael Procopio said the company may apply to the state's state’s Housing Development Incentive Program, which provides a local-option real estate tax exemption on the increased property value resulting from improvements to the property.

FALMOUTH --- The Falmouth Housing Corporation is planning to expand its affordable housing campus on Gifford Street by applying to the Baker Administration's Community Scale Housing Initiative for funding to add 20 units. The 36 existing units on the Gifford Street property were built under the state’s Chapter 40B affordable housing law and are owned by the Falmouth Housing Corporation. These units received long-term financing from MHP.