More Affordable Housing Coming to Boston Suburb via State's Chapter 40R
Massachusett's Chapter 40R seeks to substantially increase the supply of housing and decrease its cost by increasing the amount of land zoned for dense housing.
The Daily News of Newburyport
By Jack Shea
NEWBURYPORT, Mass. -- A North Andover-based company has filed plans for a second, 84-unit apartment building near the Massachusetts Bay Transportation Authority commuter rail station.
The plans, filed in the city's planning office by Minco Corp. on Oct. 23, include a five-story, multifamily residential building and surface and underground parking. The site is in the city's Smart Growth Overlay District, and is within 250 feet of the MBTA right-of-way.
Twenty-one of the building's units would be affordable under state income guidelines, according to the application.
The plans are preceded by an adjacent and similar project by Minco Corp. at 1 Boston Way, which sits on a parcel the company purchased last year from the MBTA for $1.79 million. The parcel is bounded by Parker Street, Boston Way and the train line to the east.
The 1 Boston Way project is under construction, and like the new project, it also includes 84 units.
It is the first development approved in the city's 40R Smart Growth Overlay District, which aims to put affordable housing and high-density apartments next to the commuter rail line to Boston on what is now an underused parking lot.
This latest project would be subject to site plan approval through the city's Planning Board, and a notice of intent is to be filed concurrently with the Conservation Commission.
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McClatchy-Tribune News Service
Learn more about affordable housing development in Massachusetts via Chapter 40R: