The Boston Globe reports that there will likely be a new affordable housing project in West Concord soon. The project, which was proposed two years ago by Trammell Crow Residential, is a 350 unit affordable housing project in Concord's southwest corner near Maynard, Acton and Sudbury. The project was proposed under Massachusetts' Chapter 40B affordable housing law.
Robb Hewitt, vice president of development at Trammell Crow told the Boston Globe that the project will probably commence soon thanks to lines of financing finally opening up: "The financing world has loosened up a little bit. We don't have final documents signed, but it's a 90 percent probability."
However, not everyone is happy about the new project. A Boston real estate lawyer can tell you how some municipalities have grappled with issues surrounding Chapter 40B. Some of the issues municipalities have with the law is that developers can flout zoning and planning rules in areas with less than 10 percent affordable housing. As a result, these areas claim that developers just bulldoze into their neighborhoods with little regard to the area's overall planning structure.
While the city of Concord is excited about this affordable housing project, there neighboring town of Acton is concerned about an increase of traffic flow. Since the development will be in Concord, the town can't even claim any of the units for its own affordable housing percentage.
In order to allay Acton's concerns, Trammell Crow has pledged to improve the sidewalks and streets near its project. It has also promised to contribute to Acton's affordable housing trust fund.
- Chapter 40B Plan Hits Bellingham's Zoning Board of Appeals (FindLaw's Boston Real Estate Law News Blog)
- Chapter 40B Housing Law Has Mixed Reactions (FindLaw's Boston Real Estate Law News Blog)
- Find A Boston Real Estate Attorney (FindLaw)