HomeMy WebLinkAboutCWB Letter for ZBAJim/Anna/Barnstable ZBA,
After listening to the many constructive comments from the residents of Barnstable and
after conversations with Town elected officials and staff, Great Marsh Development is
submitting a modified development plan to better serve the needs of the community. This
modification reduces the total density of the site from 56 units to 36 units.
We have clearly heard that the community wants more affordable and attainable single-
family homes and less multifamily apartments. The original plan would only have created a
maximum of 18 affordable homes or apartments. The revised plan does a better job
responding to the wants of the community by creating as many as 35 affordable home
ownership opportunities. We intend to maintain the existing home at 40 Richardson as a
market-rate home. These 35 homes will be newly constructed single-family homes and, if
accepted under the Massachusetts CommonWealth Builder program (CWB), will be sold
to 35 first-time home buyers. Attached are the latest CWB guidelines.
Under Chapter 40b requirements, we will offer 25% of the total project (9 homes) to be
sold to families with household incomes under 80% of the local area median income (AMI).
Great Marsh Development intends to sell an additional (26 homes) to families who earn no
more than 100% AMI. The US Department of Housing and Urban Development (HUD) sets
AMI figures annually for each locality. The latest 2025 AMI household incomes for
Barnstable are (80% = $106,800) and (100% = $124,100). These figures will change
annually, but for 2025 these AMI numbers would translate into home sale prices of
approximately $325,000 to $425,000.
This modified development plan intends to provide 9 homes towards Barnstable’s
Subsidized Housing Inventory (SHI) and an additional 26 affordable homes for first-time
homebuyers, which aligns with overall town housing goals to develop more affordable and
attainable housing opportunities at varied income levels.