According to the Newburyport News, the largest and most expensive housing development in city history is expected to have people living in it by October, Mayor James Fiorentini said. Forest City Enterprises of Cleveland is moving towards the completion of 303 1 and 2 bedroom upscale downtown apartments. The apartments are being built in old shoe factory buildings at the former Stoller building on Essex Street and the Lagasse building on Duncan Street.
The development is the 2nd in a Haverhill’s Chapter 40R Zoning “Smart Growth” district, approved by the City Council in 2007. Chapter 40R provides financial incentives to communities that help developers build affordable housing near transportation centers and existing urban infrastructure. Haverhill will receive a one-time payment from the state of $3,000 per new home built in the zone — more than $900,000 when the Forest City development is completed and fully occupied.
Read the entire Newburyport News article.
The Newburyport News reports that Haverhill’s plans to dredge the Merrimack River from Newburyport to lure more boaters downriver to its shoreline has been shelled by a fish (pun intended). The U.S. Army Corps of Engineers has ruled the Haverhill stretch, particularly the waters off the downtown area, cannot be dredged because the work would disrupt the spawning areas of the shortnose sturgeon, a prehistoric-looking creature that lays eggs among rocks that would be removed during dredging, federal officials said.
Haverhill is looking to add public boat docks and build a riverwalk along the downtown stretch of the waterway, as well as enact new zoning to make sure future development does not block views of the river or public access to it. Workers are expected to start building two sections of the boardwalk this summer.
Read the entire Newburyport News article.
According to the National Association of Realtors®, The House Small Business Committee held a hearing on June 5th to review the impact of the housing crisis on small businesses and to discuss tax incentives that might help stabilize housing. NAR Treasurer Jim Helsel presented testimony urging that Congress act quickly to move to conference and send a final version of tax credit legislation to the President for his signature. In his comments, Mr. Helsel emphasized the importance of making the credit available for the purchase of any type of residential property that would be used as a principal residence. (The Senate version of H.R. 3221 allows the credit only for the purchase of foreclosed property.) In addition, he recommended that Congress raise the income limits the House imposes, particularly for those who file single returns.
The testimony also explored the importance of the so-called "small" individual investor and explained the importance of adjusting the exceptions to the passive loss rules so that more small investors will return to the market. The limits for the exception have not been adjusted since their original enactment in 1986.
Click here to read the full testimony.
View a side by side chart comparing the House and Senate provisions.
The Beverly Citizen reports that heated discussions over open space preservation in Beverly continue. The Open Space and Residential Design Ordinance (OSRD) requires new developments to set aside half the land for open space and work around slopes, wildlife habitats, scenic vistas and other natural features. This was passed by the City Council in 2005. A waiver has been requested by the developers of Beaver Pond Road. Changes approved by the Planning Board to OSRD law apply to a four-acre or larger parcel where three or more lots are created in the one acre zoning district. In the two-acre zoning district, parcels about seven acre or larger, where three or more lots are created , would fall under OSRD requirements. The Conservation Commission feels this may eliminate open space completely on some lots. Robert Buchsbaum chairman of the Open Space and Recreation Committee suggested the OSRD guidelines should not be amended until the city has more experience with the ordinance.
Read the entire Beverly Citizen article.
According to the Salem News, Governor Deval Patrick has promised Beverly that the state will help pay for a new parking garage near the Beverly train depot, an announcement that MBTA and local officials said means the long-awaited project will finally become a reality.
The Commonwealth is committed to spending the $11 million the state Legislature authorized four years ago for the Beverly garage. The MBTA will pay $4 million and the federal government will pay $3 million, MBTA General Manager Dan Grabauskas said.
Read the entire Salem News article.