Pittsfield Council OKs Incentives for Housing Project
PITTSFIELD, Mass. — The City Council supported two items to facilitate a housing development in the downtown area.
On Tuesday, orders to amend the Housing Development Zone and an order for a 10-year tax increment exemption for 100 Wendell Ave. were unanimously approved. AM Management plans to convert a commercial building into "The Pointe" with 28 units, six of them designated affordable.
Councilor at Large Alisa Costa loves that there is an affordable housing aspect to the project.
"Something I'm learning is how much we have to stack financing to make something like this happen," she said. "So it's going to be two years out but this is so important for our community."
The city adopted an HDIP zone several years ago around the downtown area and has expanded it to Tyler Street and other locations with updates in 2017, 2018 and 2020. This amendment incorporates the Wendell Avenue property and 55 Linden St., which also has the potential for housing development.
"The Housing Development Zone is a state program that we had applied for when it first came out, which was a number of years ago," Director of Community Development Justine Dodds explained.
"We came up with the parameters of where the market-rate development would need to be created and that was really the downtown footprint. Since that time we've amended the zone for various reasons to add particular projects that are maybe just one parcel outside of the zone."
The TIE forgives 100 percent of taxes the first year and decreases by 10 percent each subsequent year. The estimated taxes paid over 10 years will be more than $239,000 and will have an estimated savings of $147,000.
The $3.8 million redevelopment, aimed for completion in 2025, would bring the assessed value of the property from about $517,000 to more than $1.8 million. Apartments will range from studios to two-bedroom units and the developers hope to keep rents at $1,200 give or take based on size.
Ward 3 Councilor Matthew Wrinn credited the Department of Community Development for working with the tenants currently in the building to move their businesses and increase it, adding "kudos to you."
Costa seconded his statement and said she appreciated all the thought that went into this.
Last week, the Affordable Housing Trust agreed to look into a condominium and rental housing project at 55 Linden St., the former Polish Falcon Club. The nearly 10,000-square-foot building sits on just under two acres at the corner of Linden and Center streets.
The developer had submitted a late eligibility application for Community Preservation Act funds that was not considered.
In other news, the council approved multiple appointments to city boards and commissions:
- Ward 5 Councilor Patrick Kavey to the Homelessness Advisory Committee
- Frank LaRagione to the School Building Needs Commission
- Community Development & Housing Program Manager Nate Joyner and Jay Ogle to the Mobile Home Rent Control Board
- former councilor Karen Kalinowksy to the Council on Aging
Additionally, Newell Young, Chris Haley, Erin Forbush, Kim Borden, Justine Dodds, and Karen Ryan were reappointed to the Homelessness Advisory Committee.
Tags: affordable housing,
