Current status: Step two application approved by the Community Preservation Committee and is awaiting Town Meeting vote.
The Station Street housing developer is seeking CPA funds to provider ADA access for some of the apartments being created in the old Rockland Trust buiding at 8 Station Street Middleboro MA.
APPLICANT INFORMATION
- Project sponsor or organization: 8 Station Street LLC
- Contact person: Bo McMahon
- Address: 556 Center Street Suite D Middleboro, MA 02346
- Phone numbers (work, home, mobile): 508.510.2318
- E-mail: bo@bluefinrealty.com
- Property owner and contact information (if different from applicant): same as above
FUNDING REQUEST
- Amount of CPA funding requested: $42,500
- Sources and amounts of other funding: Private Lender
- Total project cost: 3,237,797
- CPA funding as a percentage of total project cost: 2%
A. CPA Category & Purposes: The 8 Station Street project meets the Category of “Community Housing” and Purposes of “Create” & “Rehabilitate/Restore. The project will include the purchase of the vacant commercial property at 8 Station Street which will be renovated into 16 one and two bedroom rental units in the downtown area.
B. Meets CPA Plan goals: This project meets the CP Plan housing goal by creating additional affordable housing units for low to moderate income residents. Additionally, the project will be rehabilitating an existing building on a previously developed site meeting the adaptive reuse goal. Other housing goals the project will meet include: adding two new ADA compliant housing units and providing financial stability for Middleborough families by setting aside 70% of the affordable units for low income residents.
C. Meets Housing Production Plan goals: Presently, Middleborough has 9.14% of its housing units classified as affordable by the state. With thousands of families on the wait lists for both public & private housing, there is a demonstrated need for more affordable housing units in our community. By adding these sixteen 8 Station Street units to the list, this project will bring Middleborough closer to meeting the state’s goal of 10% of housing units deemed affordable in our community.
Town Meeting Funding: Town Meeting should fund this project in order to provide more affordable housing to our residents. By providing affordable housing, it allows young families and seniors to remain in their community. As stated in the CP Plan, more than 40% of Middleborough residents meet the income threshold for affordable housing.
Goals, Vision, Community Use & Benefit: Once completed, the project will reinvigorate a vacant building and revitalize the area. By providing safe & affordable housing in the downtown area the community as a whole will benefit.