The TAB’s Jonathan Dame has an update on the proposed 40B at 47 Goddard Street in the Highlands, which was the other project that was put on hold after the city asserted that Newton has reached 1.5 percent affordable housing standard.
“What everyone is forgetting is that 40B is supposed to be a streamlined process,” [Developer Mark] Schwarz said. “I can’t spend five and 10 thousand dollars for every single question that they would like answered in advance just so they can consider it.”
He said he would be taking a significant monetary loss on the two income-restricted units. In general, he said, 40B projects are denser than their surroundings because the market-rate units need to subsidize the affordable units.
“It’s not realistic to think that we can build affordable housing and do it in the same footprint as market-rate housing and not influence and change anything,” Schwarz said.