I agree with Sara - the HCA constrains our ability to provide affordable housing. Currently, the town retains leverage with developers because projects require town meeting approval. HCA changes to “by right” zoning. We cannot ask for more than 10% affordability. Just last year, thanks to the town meeting process, Winchester was able to negotiate much more affordable housing, climate protection concessions and a payment to the town.
With Town meeting gone, our only recourse is to pay developers to “make them whole”. For Oriole Landing, because we already required 15%, the hurdle to get to 25% affordability was lower than it would be under HCA. Back then, we gave them a $1M payment for 6 units. Adjusted for inflation (the Greater Boston CPI index is up 20% since then), the cost per apartment today would be $200,000. If we consider the Mall, which will be zoned for 100 apartments, increasing affordability from 10% to 25% would cost us $3M if we need to make the developer whole. The Affordable Housing Trust doesn’t have that kind of resources. Why should the town resources be dissipated when we can achieve our affordability goals, among many others, if we do not rezone these areas by right and instead continue to ask developers to come through Town Meeting for approval? Why should we rezone by right and loosen our restrictions when we can achieve all of our goals through Town Meeting? Karla From: Margaret Olson <[email protected]> > Date: Fri, Nov 10, 2023 at 08:28 > Subject: Re: [LincolnTalk] Recommended reading for those grappling with > the HCA > To: John Mendelson <[email protected]> > CC: Lincoln Talk <[email protected]> > > > The zoning contains a minimum level of affordability. As John points out > the town can, as it has in the past, negotiate higher levels of > affordability. Oriole Landing at 25% is well above their zoning requirement > of 15%. > > The reason we can not mandate 15% affordable is because the study the town > commissioned showed that to not be economically feasible. In practice what > that means is that nothing will be built in the current economic > environment if we mandate 15%; in other words if the entire financial > burden is borne by the developer. > > If affordable units are a priority the town can subsidize those units as > we have in the past or we could alter economics by relaxing height or other > restrictions in return for more affordable units. > > One note when comparing developments and costs: interest rates and > construction costs are substantially higher now than they were > pre-pandemic. What worked then might or might not work now. > > Margaret > > On Fri, Nov 10, 2023 at 7:03 AM John Mendelson <[email protected]> > wrote: > >> This is not true. The HCA does not '"tie our hands." >> >> Just like many public/private partnerships across the country and >> specifically here in Lincoln with Lincoln Woods, Oriole Landing, and >> perhaps other developments I am not aware of, the town can work with a >> potential developer to increase the percentage of affordable units, using a >> range of funds available. >> >> John >> >> On Thu, Nov 9, 2023, 11:18 PM Sara Mattes <[email protected]> wrote: >> >>> The only reason I am“grappling” with the HCA is that is will tie our >>> hands as to adding affordability -it, by its nature is exclusive. >>> It restricts the amount of affordability we are allowed to require. >>> And, if we tie up all the land around the station area, especially. The >>> mall, with this zoning, we will be creating an expensive and exclusive >>> enclave. >>> >>> How does that achieve goals of diversity and equity? >>> >>> >>> >>> ------ >>> Sara Mattes >>> >>> >>> >>> >>> On Nov 9, 2023, at 10:10 PM, John Mendelson <[email protected]> >>> wrote: >>> >>> http://www.growingwealthier.info >>> >>> How greater density *and* walkability benefits the environment and >>> property values. >>> >>> John >>> -- >>> 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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