Housing Headlines

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.

SPRINGFIELD --- WinnCompanies developers recently proposed a $20 million affordable-housing project at the former site of the Longhill Gardens condominiums. The 109-unit development will be financially supported with approved state and federal tax credits as well as $1.5 million in subsidies. The project has the support of the Forest Park Civic Association and Mayor Domenic Sarno, but Springfield Forward, a grassroots group, has objected to it. The developers hope to purchase the partially condemned site at an auction on December 4th at noon.

FALMOUTH --- Developers have presented an overview to selectmen of a proposed 40B "green" assisted living facility on Gifford Street. The new building will consist of 125 rental units, 25 priced as affordable, in studio, one-bedroom, or two-bedroom layouts throughout the 131,000 square feet space. The LEED-certified building will also contain amenities for the residents such as a bank and a restaurant. Selectmen look forward to a upcoming developer-led tour of the site where they will learn more about the proposal.