Housing Headlines

READING --- Oaktree Development recently proposed the possibility of purchasing Atlantic Food Store on Haven Street with plans to convert the building into a mixed-use development. The development would consist of one level of shops with 49 "green" condominiums, one- and two-bedroom units, on the other three floors. More details about the project will be presented at a public meeting held by the Community Planning and Development Commission (CPDC) on Monday, March 9 at 7:30 p.m. at the senior center.

BOSTON --- The state Department of Housing and Community Development today released a report that analyzes current housing market fundamentals and what the likely demand for housing will be through 2012. Researched by the University of Massachusetts' Donahue Institute, the report was commissioned to "ensure that we are building housing that will boost our economy and help attract new jobs and businesses to Massachusetts," said Housing and Community Development Undersecretary Tina Brooks. To read more about this report, click the title of this summary.

LEOMINSTER --- Weymouth developer Patrick Flaherty recently announced that he is seeking to convert the former Carter Junior High School into 50 two- and three-bedroom condominiums. The proposed 40R project would reserve 20 percent of the units for people whose income is less than 80 percent of the area median income. City officials have expressed concern about the developer being able to sell all of the condominiums in the current housing market.

FITCHBURG --- New Hampshire-based MDP Development Inc. recently proposed the construction of a mixed-use complex in a vacant mill the developer purchased in January. Initial plans for the complex call for creating around 150 units of housing. MDP Development Inc. expects to submit design plans to the city planning board for consideration within a few months.

STATE --- The John D. and Catherine T. MacArthur Foundation plans to award the state $4.5 million to preserve the long-term affordability of existing privately owned rental housing. The foundation will also target $3.5 million in program-related investments, or low-cost loans, to support a $150 million preservation loan fund to develop and acquire preservation projects. Governor Patrick's office stated that the money will "preserve affordable rental homes for an estimated 9,000 families, or more than 20 percent of the rental housing now at-risk of being lost."

FALMOUTH --- In an effort to increase the number of affordable units, the planning board recently voted to recommend a resident-submitted article making it easier for homeowners to get accessory apartment permits in the town. An accessory apartment is defined by the town bylaw as a dwelling unit added to or created within a single-family dwelling with provision for independent cooking, living, bathroom facilities, and sleeping occupying no more than 30 percent of the gross floor area of the principal structure. The resident noted that the article would help reach the state goal of 10 percent affordable housing, assist in slowing the exodus of young people, and provide additional tax revenues.