The 6 acres for Oriole Landing sold for $32 million. I believe two 30 unit buildings could be put on the corner of Lincoln Road and Codman Road as well. Look at the septic/wastewater system they designed for Cold Brook, it does not take much physical space.
That is $32 million split three ways. And for this prime in-town location, I’m guessing the selling price would be even higher. That’s $10 million each for those property owners. Don’t you think that would be incentive enough to get together and sell as a group? Maybe they will hold out, maybe they won’t. Rob On Tue, Oct 10, 2023 at 6:49 PM Karla Gravis <[email protected]> wrote: > In response to the question of whether developers are knocking on our > door, Lincoln’s own RLF has been working with a developer, Civico, on a > 125-unit building in the mall area (slide 26 of the SOTT deck). Civico is > the same developer that built Oriole Landing. > > It is very important to note that under the proposal, village center > rezoning will allow developers to build simply by getting a building permit > with no need to go to town meeting (slide 9 of the SOTT deck). > > Given that the Chair and the Executive Director of the RLF sit on the HCA > working group, and that the RLF will benefit from the development, it’s > reasonable to expect that this project will quickly follow any rezoning. > > The HCA allows for only 10% affordable housing, so we will end up with ~13 > affordable units and 112 units at Oriole Landing prices (which seem to > start at $4K per month). > > It’s naive to think that more developers will not follow Civico once we > rezone. Existing Lincoln parcel owners will have a material financial > incentive to sell to developers. > > > > > >> >> >> On Tue, Oct 10, 2023 at 5:19 PM Susanna Szeto <[email protected]> wrote: >> >>> If we look around town, the multi-family we have in town now are most >>> tucked away. They do not hit you in the face as the proposal to the >>> development on Codman Road. I doubt it will achieve the economic diversity >>> people are looking for if the rent is as high as the Oriole Landing! I >>> hope we can pause and study how the rezoning will affect the traffic in >>> town before we jump into this! I have read on Lincoln Talk the developer >>> is already knocking on our doorstep! Is that true? >>> Susanna S >>> Giles Road >>> >>> On Oct 10, 2023, at 5:06 PM, Margaret Olson <[email protected]> >>> wrote: >>> >>> >>> >>> Greg, >>> Conservation restrictions apply irrespective of zoning. The conservation >>> restrictions on Codman and Drumlin (and elsewhere in town, including areas >>> around South Lincoln) prevent those areas from being developed. State law >>> makes it extremely difficult to remove land from conservation - it has to >>> be replaced with equally valuable land. >>> >>> Margaret >>> >>> Margaret >>> >>> On Tue, Oct 10, 2023 at 5:00 PM Greg H. <[email protected]> >>> wrote: >>> >>>> All, >>>> >>>> Thank you to everyone on the housing committee for your service. I'd >>>> like to respectfully add my $0.02 from the peanut gallery in support of a >>>> pause / step back in rezoning plans. >>>> >>>> It seems to me that there are three distinct philosophies/options we >>>> could pursue, but that we are fully focused on #3. >>>> >>>> *Options* >>>> 1. Drag our feet and/or consider noncompliance: favor Lincoln's rural >>>> character above all else >>>> 2. Comply in letter but not fully in spirit: where possible, overlay >>>> new zoning on existing multi-family and/or commercial development to >>>> mitigate the impact >>>> 3. Wholeheartedly comply in both letter and spirit: build as much new >>>> housing as possible near the commuter rail >>>> >>>> I understand that many believe we have a moral responsibility to build >>>> more housing in Lincoln (and while I disagree, I respect that view) but I >>>> believe as stewards we also have a moral responsibility to maintain as much >>>> "green" as possible and to preserve the rural character of our town for >>>> future generations. I'm especially concerned that creating a Cold Brook >>>> Crossing on Codman Rd will both a) unnecessarily cut down a lot of trees, >>>> and b) materially change Codman Farm, Drumlin Farm, and the rest of South >>>> Lincoln, forever. >>>> >>>> I support increasing Lincoln's diversity (including economic >>>> diversity), and I realize that #3 might help us achieve that, but this >>>> feels like a very big step that we might come to regret. I think Lincoln is >>>> special precisely because it is undeveloped - I'm not sure we can have it >>>> both ways. >>>> >>>> Thank you for reading, >>>> >>>> Greg Haines >>>> 41 Lincoln Rd >>>> >>>> (As an aside, I'm also not sure I'm prepared for the additional traffic >>>> the development will spur. Traffic is already backed up almost a mile on >>>> Lincoln Rd on Tuesday mornings; I assume we will need to add traffic lights >>>> or rotaries at Lincoln Center and Lincoln Station?) >>>> -- >>>> The LincolnTalk mailing list. >>>> To post, send mail to [email protected]. >>>> Browse the archives at >>>> https://pairlist9.pair.net/mailman/private/lincoln/. >>>> Change your subscription settings at >>>> https://pairlist9.pair.net/mailman/listinfo/lincoln. >>> >>> >>>> >>>> -- >>> The LincolnTalk mailing list. >>> To post, send mail to [email protected]. >>> Browse the archives at >>> https://pairlist9.pair.net/mailman/private/lincoln/. >>> Change your subscription settings at >>> https://pairlist9.pair.net/mailman/listinfo/lincoln. >>> >>> >>> >>> -- >> The LincolnTalk mailing list. >> To post, send mail to [email protected]. >> Browse the archives at >> https://pairlist9.pair.net/mailman/private/lincoln/. >> Change your subscription settings at >> https://pairlist9.pair.net/mailman/listinfo/lincoln. >> >> -- > The LincolnTalk mailing list. > To post, send mail to [email protected]. > Browse the archives at https://pairlist9.pair.net/mailman/private/lincoln/ > . > Change your subscription settings at > https://pairlist9.pair.net/mailman/listinfo/lincoln. > >
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