160 affordable housing units proposed in Shrewsbury
Capital Group Properties of Southborough has agreed to purchase 8.5-acres of land for an undisclosed amount in Shrewsbury for an affordable housing development, the company said.
The developer has proposed a 160¬-unit affordable housing development at Route 9 and Walnut Street to the town under Chapter 40B, a state law that allows developers to override local zoning regulations if less than 10 percent of a community’s housing stock is affordable.
The development will consist of four buildings of 40 units each and will also have a pool, a clubhouse and 280 parking spaces, according to plans presented to town officials.
The company said it is also considering a commercial component not originally in the plans, which was asked for by town officials.
“The commercial component of the project would be separate from the 40B housing portion of the land. We are currently working on two other projects in the area that include both a residential portion of the project and a commercial or retail portion or the project: The Shoppes at Maynard Crossing in Maynard and Park Central in Southborough,” said Robert Depietri, vice president of Capital Group Properties, in an email. “These mixed use projects have been well-received to date and we expect that this trend will continue in the future.”
Depietri said the company hopes to get the project underway in the next year.
WBJ Web Partners
Most Recent
Most Recent
0 Comments