Housing Headlines

WILMINGTON --- Real estate development firm The Federated Companies recently purchased a 12-acre development site with plans to build a 40B mixed-income rental community. The project, called Legacy Park Wilmington, will consist of two, three-story garden buildings contain 108 units and an enclosed 35-space parking garage. Of the 108 units, 28 will be designated as affordable. Construction on the complex is set to begin in spring 2012 with pre-leasing expected to begin in 2013.

WESTPORT - Selectmen recently voted to select Community Builders, Inc. as the designated developer of Noquochoke Village, a 50-unit affordable and mixed-income housing development on town-owned land off American Legion Highway. (Note: The Massachusetts Housing Partnership provided technical assistance to the town to help it plan for affordable housing on this property).

BELMONT--- Despite a recent setback in state court, neighbors and environmentalists will continue to fight a plan by O'Neill Properties Group to build 298 units of rental housing on privately owned land amid the 120-acre Alewife Brook Reservation.

YARMOUTH --- A small nonprofit organization called Our First Home plans to renovate seven existing houses within the next couple of years and sell them for $129,000 to $149,000 to people of limited means. The nonprofit is working in partnership with the town's BuyDown Program, which hopes to renovate and sell 25 to 30 houses over the next three years. The town has supported Our First Home's efforts with $430,000 from its affordable housing trust fund.

WORCESTER --- Despite data showing that rental apartment vacancy rates for Worcester have dropped from 6 percent to 3.8 percent in the last four years, housing developers say they are facing stiff resistance from towns when trying to gain approvals to build multi-family housing.

BOSTON --- In response to a 2010 state law mandating that each administration develop and publish an economic development strategic plan, the Patrick Administration has released its plan for growing the state's economy through strategic investments investments in education, innovation and infrastructure. The full report can be found at: http://www.mass.gov/hed/docs/eohed/economicdevpolicystrategy.pdf