Affordable Housing Complex on West Street Could Cost Up to $15 Million to Develop

This is the final installment of a three part series regarding this property. To read part one of this series, To read part two of this series, .

On Oct. 18, 2011, Gatehouse Group LLC of Mansfield agreed to purchase 9.22 acres of land from Medfield North Meadows LLC for $1.65 million with the intent of building 96 units of affordable housing to be known as “The Parc at Medfield.”

The land is located between North Meadows Road (Route 27) and West Street, near the old Potourri building. The area is zoned industrial but by using the affordable housing law – or Chapter “40B” – the residential project could move forward regardless.

Under 40B, if a town does not have at least 10 percent of its available housing at an “affordable” rate – Medfield is currently at approximately 4.4 percent – then a developer can essentially build any project in any place without regard for local zoning laws. 

If a developer applied for a permit and was denied for any reason, the developer could easily appeal the decision at the state level where it would typically be overturned.

If approved, Gatehouse expects to start construction in January 2013. According to the development schedule in their application, CITE, they expect to have one building of 48 units completed by September 2013 and ready to rent in January 2014. The second phase would start in September 2013 and be completed in July 2014, just three months before the current purchase and sale agreement expires (October 2014). 

Records show the purchase price is $1.65 million and Gatehouse plans to spend $13.5 million to develop the property into 12 one-bedroom, 24 two-bedroom, and 12 three-bedroom units making the total development cost per unit approximately $277,000.

Suggested rent is $625 for a one-bedroom unit, $900 for a two-bedroom, and $1,050 for a three-bedroom.  The income guidelines are listed as “low income below 60 percent” for 43 units and “other income 30 percent” for five units.

The listed maximum “fair market rents” are listed as $1,149, $1,349 and $1,613, respectively, for a one, two or three-bedroom unit.

Board of Selectmen Chairman Osler Peterson said this project “would become the densest development in town, with about eight units per acre.” 

“A quarter of the proposed units are three bedroom units and half of the proposed units are two bedroom units, so it is likely that the density of people in the complex will be higher than we are used to having located in one spot in town,” Peterson said.  

Plans show that, on the proposed 9.22 acre site, the two ‘low/mid-rise’ apartment buildings and clubhouse would take up 9.9 percent of the property, pavement (including 158 parking spaces) would take up 20 percent, and open area would comprise 70.1 percent of the property.

The two buildings would be accented by a community clubhouse featuring a Great Room with a fireplace for social gatherings. It would also have a fully-equipped fitness and business center.

Each apartment would have a “green building design” and would include Energy Star appliances, energy-efficient HVAC, decorator designed kitchens, designer carpets or ceramic tile floors, wood cabinetry, faux wood blinds, walk-in closet storage, and 24 hour maintenance.

“The Parc at Medfield has been designed to foster a vibrant neighborhood-oriented community that will accommodate the busy lives of its residents,” says the Executive Summary of the application.

Gatehouse has built several of these “affordable rental communities” around the state including The Preserve in Walpole, Quail Run in Stoughton, and Chestnut Farm in Raynham.