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Community Housing Goals Stoughton has recently conducted a detailed community housing report, which set the dual goals of revitalizing the downtown area.

Published byMervyn Hopkins Modified over 8 years ago

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Presentation on theme: "Community Housing Goals Stoughton has recently conducted a detailed community housing report, which set the dual goals of revitalizing the downtown area."— Presentation transcript:

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2 Community Housing Goals Stoughton has recently conducted a detailed community housing report, which set the dual goals of revitalizing the downtown area while increasing home ownership opportunities for residents of all income levels. Further, the report recommended exploring opportunities to revise zoning through smart growth, overlay districts and transit oriented development, while preserving the unique character of the community. Meeting community goals is the MISSION of MSC DEVELOPMENT LLC

3 The View “Before” Stoughton Downtown Overlay District The View “Before”

4 “Before” Conditions Rose Street, Stoughton

5 “Before” Conditions Rose Street, Stoughton

6 “Before” Conditions Stoughton Town Hall from Rose Street

7 The View “After” Stoughton Downtown Overlay District The View “After”

8 Front View, Rose Street

9 Side View, Porter Street

10 Front Elevation, Rose Street

11 Interior Photos, Rose Street

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13 Mixed Use Overlay District - Stated Goals - MSC DEVELOPMENT LLC Downtown Redevelopment Higher & Better Use of Blighted Parcels Targeted Demographics A Vibrant, Mixed Use District Affordable Housing Component

14 Affordable Component - Regional Comparison - Canton: 10% Milton: 10% Westwood: 12% Walpole: 10% Needham: 10% Hingham: 10% Holbrook: 10% Quincy: 10% Stoughton: 20%-25%??? MSC DEVELOPMENT LLC

15 PROJECT ECONOMICS - 4 Story Limit - 4 Units x 20% Affordability = 0 Units Milton: 10% Westwood: 12% Walpole: 10% Needham: 10% Hingham: 10% Holbrook: 10% Quincy: 10% Stoughton: 20%-25%??? MSC DEVELOPMENT LLC

16 Additional PARKING AREA on Rose Street

17 ECONOMIC REALITY - Developer Loss Per Unit - Market Rate Sales Price:$320,000 - $340,000 per unit Affordable Rate Pricing: $140,000 per unit 1 Affordable Unit: Developer Lost Revenue: $180,000 - $200,000 2 Affordable Units: Developer Lost Revenue: $360,000 - $400,000 3 Affordable Units: Developer Lost Revenue: $540,000 - $600,000* 4 Affordable Units: Developer Lost Revenue: $720,000 - $800,000* * Project is NOT Economically Feasible MSC DEVELOPMENT LLC

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