Please do not leave this page until complete. This can take a few moments.
A proposed 94-unit, seven-story apartment building on Mason Street in Worcester originally set to be entirely composed of affordable units will now only contain 15% affordable units, following a change of plans made by the project’s developers.
Updated documents submitted to the Worcester Zoning Board of Appeals uploaded to the City of Worcester's website on Feb. 1 described the decision to reduce the amount of affordable units in the building by 85%, but did not offer any details explaining why the original plan of making all of the units affordable was abandoned.
The apartments, which are set to be built on a vacant plot of land at 48 Mason St., were first proposed in the spring of 2023. The proposed building will contain a mix of one-bedroom, two-bedroom, and three-bedroom units, with 66 parking spaces for residents and guests.
The project is being proposed by Kensington Management, a Worcester-based apartment rental, management, and investment firm that currently owns at least ten other properties in the city.
Affordable units are apartments set aside for renters who have annual earnings that are 80% or less than the area median income. The City’s inclusionary zoning law, passed in the spring of 2023, requires all newly-constructed housing developments of twelve units or more to set aside either 15% of units set aside for those making 60-80% of the AMI, or 10% of units for those making less than 60% of the AMI.
Mark Borenstein of Worcester law firm Bowditch & Dewey, LLP is representing the developer. He declined to comment on the reduction of affordable units when contacted by WBJ via email on Thursday.
An email to Kensington Management from WBJ went unanswered.
A 2022 report from the Worcester Regional Research Bureau found a large number of renters in Worcester, more than 50%, are cost-burdened, meaning they pay more than 30% of their income towards rent.
Stay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Sign upWorcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
SubscribeWorcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
See Digital EditionStay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments