Whittier Bridge in Newburyport Need Repair

The Newburyport Current reported that the I-95 Whittier Bridge that spans the Merrimack River between Newburyport and AmesburyWhittier Bridge that spans the Merrimack River between Newburyport and Amesbury is a priority repair, according to State Treasurer Timothy Cahil.

Read the entire Newburyport Current article.

303-Unit Downtown Housing Complex to be Completed in Haverhill this Fall

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.

Rare fish Halts Haverhill’s Plan to Dredge Merrimack River

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.

Senior Housing proposed for Cherry Hill Industrial Park in Beverly

According to the Beverly Citizen, a national developer of senior housing plans to build a 238-unit complex in the Cherry Hill Industrial Park in Beverly. The 2-phase project needs a special permit from the Zoning Board of Appeals, which is scheduled to meet on June 24th at 7:00pm at the library on Essex Street to consider the plan.

Phrase 1 would be 118 independent living building on a 9.5 acre parcel and will include studio, 1-bedroom,and 2-bedroom units plus many other rooms such as large formal dining and other amenities and rooms. 15% of the units would be subsidized. The site plan calls for a 4-story, 118-suit building closest to Conant Street and 3 other 4-story buildings on the rest of the property. The entrance would be directly across from Axcelis Technologies’ driveway on Cherry Hill Drive (pictured right).

Read the entire Beverly Citizen article.

NAR Testifies in Support of Homebuyer Tax Credit

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.

Fight Over Open Space Continues in Beverly

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.

Governor Promises Money for Beverly Parking Garage

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.

First Time Homebuyers Find Help in Ipswich

The Salem News has reported that the Ipswich Planning Board is offering cash incentives for first-time home buyers.

First-time buyers can get up to $10,000 to help with their purchase, provided:

1. They make no more than $46,300 for a single person, $66,150 for a family of four
2. The property is in Ipswich
3. The purchase price is less than $250,000

The money can be applied to a down payment or to reduce the size of the mortgage.

Home buyers will need to act fast. This deal is only available through the end of June 2008.

For more information, click here or call the Ipswich Planning Department at 978-356-6607.

Fannie Mae Scraps Higher Downpayment Requirements

On Friday, May 16th, Fannie Mae scrapped its increased minimum down-payment requirement for homes in declining markets. This replaces a December policy that required a higher minimum down-payment if the loan was for a home in a market with declining real estate prices (not necessarily distressed areas). The government-sponsored mortgage financier said it will continue to require minimum downpayments of between 3%-5% for all loans that it guarantees.

Update on Beverly Commuter Parking Garage

Update on our May 21, 2008 post... according to the Beverly Citizen, Beverly officials are looking to seek proposals from local landowners to build a commuter parking garage near Beverly Depot.

Read the entire Beverly Citizen article.

NAR Takes Step Forward with National Property Database

At the September 17, 2008, the National Association of Realtors® Board of Directors authorized NAR to work with a technology company to create a Realtors®-controlled national database or “library” of property data that would provide members-only access to detailed information on all properties in the United States.

The repository, which NAR is calling a "digital library/archive," would be revenue neutral but could eventually be fee-based to cover operating costs. In a report preceding the vote, NAR CEO Dale Stinton emphasized that the repository will not be a national MLS. There will be no offers of cooperation or compensation, nor any attempt to create a national online marketplace for property listings. The database also will be accessible to REALTORS® only, with no consumer-facing components.

You can real more about the NAR National Property Database here.

NSAR meets with Congressional Leadership

On Wednesday, May 14, 2008, the President of the North Shore Association of Realtors®, Marilyn Jarvis, and President-Elect, David Kres, met with Congressman John Tierney (D-6th District), and aides for Senator Edward Kennedy (D-MA) and Senator John Kerry (D-MA).

Issues discussed including FHA and GSE reform, buyer tax credit, flood insurance, small business health insurance, and other legislative items.

Realtors® can get a brief overview of our message by clicking here.

Above is a picture of Marilyn and Dave's meeting with Congressman Tierney.

News from NAR's Midyear Meetings

Last week, the National Association of Realtors® met in Washington D.C. for the Midyear Legislative Meetings. The agenda was packed and local, state and national leaders in the Realtors® Association were extremely busy.

Here's a list of headlines from the meetings: http://www.realtor.org/RMODaily.nsf/pages/News2008051601?OpenDocument

Part of Historic Ipswich News Building to be Demolished

According to the Ipswich Chronicle, the owner of the 16 Market St, Ipswich property which housed the “Ipswich News” has filed a permit to begin demolition of the non-historical portion of the building which was damaged by fire last July. The historical commission previously implemented a demolition delay bylaw while they determined that the front portions both 16 Market Street and the adjoining property at 20 Market Street to be historically significant.

Read the entire Ipswich Chronicle article.

Beverly Developer Proposes New Plan

According to the Beverly Citizen, developer CEA Group of Cambridge, who bought the Beverly property at Brimbal Ave and Sohier Rd in November 2005, has asked the City to rezone the property from industrial to commercial. CEA Group has a plan on the site for 4 buildings, a mix of retail and office space along with a childcare center.

Read the entire Beverly Citizen article.

Affordable Housing Coalition Receives Funding for Beverly Construction

The Beverly Citizen reported that the Beverly Affordable Housing Coalition has received all the needed permits and approvals as well as the funding for the $8.5 million project replacing the existing Mayflower Motel on Cabot and Elliot Streets in Beverly. Construction would begin the end of the year and last for about one year.

The units will be affordable based on the financing agreements with Department of Housing and Community Development, City of Beverly, Northshore Home Consortium, Enterprise Foundation and the Danvers State Preservation Fund. Each unit will be between 250-400 sq. ft. restricted to one resident and rent for $375 to $625 a month. A grant of $46,000 from The Enterprise Foundation is awarded because the building will be energy efficient thus a Green Building.

This photo, courtesy of the Beverly Citizen, is an artist’s conception of what Cabot Street Homes will look like when it is built at the current site of the Mayflower Motel.

Read the entire Beverly Citizen article.

Parking Garage Stalling $100 million Beverly Project

According to the Beverly Citizen, parking issues could stall a plan for Windover Development to go forward with plans for a mixed commercial and residential development block in Beverly next to Beverly Depot train station. A parking garage was supposed to be approved by Massachusetts Bay Transportation Authority and without that, Windover President Lee Dellicker cannot advance with the plans. The key was to have this garage that would create hundreds of parking spaces. Windover has a plan B if they have no assurances of a garage being built they would revise their plans for a project that would take in account the smaller parking spaces.

Read the entire Beverly Citizen article.

Beverly Waterfront Modernization Advances

According to the Beverly Citizen, a consultant has been hired to write new regulations for the Beverly waterfront project along the inner waterfront on Water Street and Bass River between Goat Hill and Elliot Street. This will rewrite land use laws to allow mix use of retail stores, residential and restaurants.

Planning Director Tina Cassidy said a 3-consultant team will begin the work shortly. Public hearing and public meeting and speaking with property owners will be part of the process. The proposal will be presented by the end of 2008 to the City Council.

Read the entire Beverly Citizen article.

NAR Midyear Legislative Meetings

The National Association of Realtors® Midyear Legislative Meetings is this week.

Realtors® can click here to see the Events Reports, Lending Report, Tax Report, Housing Report, and Legislative Talking Points.

CEO Susan Kline, President Marilyn Jarvis and President-Elect David Kres will be representing North Shore Association of Realtors® at the Midyear Legislative Meetings.

New Rules for Borrowers With Foreclosures

The National Association of Realtors® reported recently that Fannie Mae will adopt new rules that will require higher minimum down payments and credit scores for borrowers with a past foreclosure.

Click here to read the entire article.

NAR President's Letter to Fannie Mae & Freddie Mac

Last month, the president of the National Association of Realtors® wrote letters to the Fannie Mae and Freddie Mac CEO’s to address serious concern about a range of Fannie Mae/Freddie Mac policies that Realtors® feel are hurting the economy and adversely affecting the housing and mortgage markets.

The main contentions of the letters included:

1. Extremely tight underwriting standards for jumbo conforming loans authorized by the Economic Stimulus Act.
2. Policies reducing maximum loan-to-value ratios (LTVs) by five percentage points for homes in declining markets.
3. A wide variety of higher fees and other underwriting standards that make mortgages much less affordable.

Click here to read the letter to Fannie Mae and here to read the letter to Freddie Mac.

Thanks to Dick Gaylord, NAR President, for his advocacy.

Lynnfield Restricting Adult Communities

Lynnfield may be the only town resticting an adult community to 60 years old or older. Due to its present agreement with the Lynnfield Intervention for the Elderly the two subsidized elder housing facilities have seniority lists for 60 years an older. In the past few years Lynnfield has been involved in the building of several adult communities. Heritage Woods is now complete and is selling upscale market rate condominiums to the 60 and over crowd. The upscale condos are selling slowly and the developers are anxious to present the question of lowering the adult community age requirement. Although the question was to be asked at last Monday's Town Meeting, the question was removed at the last minute due to the required 2 years since last voted when the developer was starting the project. Question will be moved to the Fall Town Meeting in October, it appears that LIFE administrators feel that the change would not affect adversely the town's elderly community.

Rail Trail Continuing to be Debated

The Tri-Town Transcript is reporting that the proposed rail trail, a 26-mile trail to run from Salisbury to Danvers, is continuing to be debated by committies and town selecteman.

PRCWA receives grant to study Georgetown’s well field

According to the Georgetown Record, the Parker River Clean Water Association received a grant through the Department of Fish and Game’s Riverways Program to study Georgetown’s well field.

Read the entire Georgetown Record article.

State Senators Review Ocean Management

According to the Georgetown Record, Senate minority leader Bruce Tarr (R-Gloucester) and Senator Steven Baddour (D-Methuen) have recently released the third installment of a cable information show on the "Ocean Management Act". This show delivers great perspectives on why managing our ocean resources are so important to every citizen of Massachusetts. The show was featured throughout Essex and Middlesex districts during the month of March.

Read the entire Georgetown Record article.

Topsfield Planning Board Member Departing

Attention is now starting to be noticed locally since the presidential primaries are behind us. According to the Tri-Town Transcript, candidates in Topsfield/Boxford/Middleton are starting to get noticed despite that selectmen, school committee's and planning boards are all running unopposed in Middleton,Boxford and Topsfield. Topsfield planning board is seeing one term end for a dedicated member due to by-laws restricting a fourth term.

Read the entire Tri-Town Transcript article.

5 North Shore Development Projects Aimed at Boosting Economy

The Salem News reports that there are 5 major development projects in the works in the North Shore aimed at boosting the local economy:

1. $106 million Salem court construction
2. Northshore Mall expansion in Peabody
3. $15 million Bridge Street bypass road in Salem
4. Health Care Expansions in Danvers & Peabody
5. Beverly waterfront transformation

Read the entire Salem News article.

Age Restricted Zoning in Hamilton

There was an interesting letter to the editor in the Salem News recently about age restricted zoning in Hamilton. According to the author, the Hamilton Planning Board is trying to change the zoning bylaws of Hamilton to allow age-restricted, dense development by offering a "Senior Housing Bylaw" at the next town meeting on May 5, 2008.

Click here to read the Salem News letter to the editor.

Two Plans Submitted for McKay School in Beverly

According to the Beverly Citizen, two developers have proposed converting the vacant McKay School in Beverly into residential units – beginning as apartments which may be later be sold as condominiums.

Redevelopment of the McKay School is one of several components of Mayor Bill Scanlon’s plan to pay for the $68 million Beverly High School construction and renovation project that is scheduled to break ground later this year. Any redevelopment plan would need a special permit from the City Council under a recently revised zoning ordinance that governs residential reuse of municipal buildings.

The Beverly Citizen article had a nice breakdown of the plans:

Windover Development LLC
Proposed residential units in former McKay School: 23
Units in newly constructed buildings: 6
New residents: 60 to 65 people
Proposed purchase price: $600,000
Project cost: $7.4 million
Tax revenue after six years: $101,700
Parking spaces: 58
Below market (affordable) units: four

Dakota Partners Inc.
Proposed residential units in former McKay School: 30
Units in newly constructed building: 6
New residents: 58 to 87 people
Proposed purchase price: $1 million
Project cost: $8.37 million
Tax revenue after six years: $136,768
Parking spaces: 72
Below market (affordable) units: four

Chapter 40B Recently Withstands Ballot Drive Challenge

Chapter 40B recently withstood a potentially significant challenge to its status as one of the Commonwealth’s most important housing law since its creation in 1968. According to the Massachusetts Secretary of State’s Office, a signature drive to repeal the law fell more than 35,000 signatures short of the 66,593 needed to place a question on the November 2008 statewide ballot. Consequently, the soonest any similar petition to repeal Chapter 40B could be on the ballot would be 2010.

Chapter 40B has been responsible for producing over 48,000 units of mixed-income housing, including housing for the elderly, single-family subdivisions that include affordable units for town residents, multifamily rental housing developments, and mixed-income condominium or townhouse developments. Its goal is to encourage the production of affordable housing in all cities and towns throughout the Commonwealth by reducing unnecessary barriers created by local approval processes, local zoning, and other restrictions. The standard is for communities to provide a minimum of 10% of their housing inventory as affordable. A total of 51 cities and towns have now met that standard.

The Citizens’ Housing And Planning Association have an excellent website with Chapter 40B information. Click here to view the website.