walkitout (walkitout) wrote,
walkitout
walkitout

Does multifamily 40B development hurt single family home prices?

Some people at MIT took a look at this question:

web.mit.edu/cre/research/hai/pdf/40B_report_HAI_0405.pdf

I would argue that many of the developments are too small to really matter, but you sure can't say that about Woburn's Kimball Courts. I would also argue that their impact area is overly oriented towards sight lines and may be inadequate to take into consideration traffic impact -- but most of the developments were so small it wouldn't have mattered anyway.

I forgot about this:

"Fear of a protracted battle gives developers incentive to maximize project density
in their initial proposals to compensate for anticipated extra costs, and the failure to resolve the
question of density in earlier stages leaves towns with little leverage once the courts render the
permit decision."

I noted that the number of units tends to get negotiated down when working with a town zoning board, thus, if I were a developer, I'd ask for extra to deal with that inevitable knockdown. Turns out you have to _do_ way more units, if you need to cover legal costs associated with getting the project permitted under the litigation version of 40B. I failed to think of that, because most of the developments I've been looking at were LIPs done somewhat cooperatively with the town.

Also: 25% if the units are available to people earning up to 80% of area median income; 20% if the units are available to people earning up to 50% of area median income.
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