community housing goals

Community Housing Goals

• Stoughton has recently conducted a detailed community housing report, which set the dual goals of revitalizing the downtown area while increasing home ownership opportunities for residents of all income levels.

• Further, the report recommended exploring opportunities to revise zoning through smart growth, overlay districts and transit oriented development, while preserving the unique character of the community.

Meeting community goals is the MISSION ofMSC DEVELOPMENT LLC

Stoughton Downtown Overlay District

The View “Before”The View “Before”

“Before” ConditionsRose Street, Stoughton

“Before” ConditionsRose Street, Stoughton

“Before” ConditionsStoughton Town Hall from Rose Street

Stoughton Downtown Overlay District

The View “After”The View “After”

Front View, Rose Street

Side View, Porter Street

Front Elevation, Rose Street

Interior Photos, Rose Street

Interior Photos, Rose Street

Mixed Use Overlay District- Stated Goals -

MSC DEVELOPMENT LLC

• Downtown Redevelopment

• Higher & Better Use of Blighted Parcels

• Targeted Demographics

• A Vibrant, Mixed Use District

• Affordable Housing Component

Affordable Component- Regional Comparison -

Canton: 10% Milton: 10%

Westwood: 12% Walpole: 10%

Needham: 10% Hingham: 10%

Holbrook: 10% Quincy: 10%

Stoughton: 20%-25%???

MSC DEVELOPMENT LLC

PROJECT ECONOMICS- 4 Story Limit -

4 Units x 20% Affordability = 0 Units

Milton: 10%

Westwood: 12% Walpole: 10%

Needham: 10% Hingham: 10%

Holbrook: 10% Quincy: 10%

Stoughton: 20%-25%???

MSC DEVELOPMENT LLC

AdditionalPARKING

AREAon

RoseStreet

ECONOMIC REALITY- Developer Loss Per Unit -

Market Rate Sales Price: $320,000 - $340,000 per unit

Affordable Rate Pricing: $140,000 per unit

1 Affordable Unit: Developer Lost Revenue: $180,000 - $200,000

2 Affordable Units: Developer Lost Revenue: $360,000 - $400,000

3 Affordable Units: Developer Lost Revenue: $540,000 - $600,000*

4 Affordable Units: Developer Lost Revenue: $720,000 - $800,000*

* Project is NOT Economically Feasible

MSC DEVELOPMENT LLC