How much affordable housing is expected to be built?

The site was evaluated from a strictly construction and engineering framework. However, the RFP applicants will use many additional factors and criteria to determine the number of units that they will submit in their proposal.

The number of proposed apartments in the development won’t be known until a proposal pursuant to an RFP is accepted by the Select Board. A land disposition agreement or long-term lease negotiated with the affordable housing developer will set forth agreed-upon terms and conditions. Affordable housing funding sources, like federal and state Low-Income Housing Tax Credits, depend on certain economies of scale. These affordable housing tax credits and other funding sources are critical to creating all affordable housing. 

A handful of townhomes or duplexes would not be eligible for federal and state subsidies and low-income housing tax credits and in that event, the Town would bear the bulk of the financial burden for construction (See Question #10.) Furthermore, building only a few affordable homes at the Town’s expense would cause the Town to miss out on an extremely rare opportunity to advance its affordable housing goals in a meaningful way. This opportunity is especially important given the urgent need for affordable homes and also considering that Lexington has produced so little affordable housing in the last thirteen years. The addition of affordable homes on the Lowell Street parcel would represent only a small fraction of Lexington’s housing stock which stands at 12,252 homes (Source: US Census 2020). This modest increase would only scratch the surface of addressing affordable housing needs in the area.

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1. Why is there an urgent need for housing that is affordable?
2. Who lives in affordable housing?
3. What are the benefits for Lexington as a community of approving Article 33?
4. What is Article 33 asking Town Meeting to do?
5. What is Parcel 68-44?
6. Why are the Select Board and the Affordable Housing Trust considering Parcel 68-44 for affordable housing?
7. Is the Parcel feasible to develop?
8. What are the goals for this parcel?
9. Why all affordable?
10. What comes next?
11. What are the Town's options for this parcel if Warrant Article 33 passes?
12. Who develops affordable housing?
13. How is affordable housing financed?
14. What will be the Town's anticipated commitment?
15. Why is a LIP 40B Comprehensive Permit recommended?
16. What is the Comprehensive Permit Process?
17. What is the process followed by the Zoning Board of Appeals?
18. How long will the whole process take?
19. Will the new MBTA Multi-family zoning and the revised Special Residential Development zoning create affordable housing?
20. Is another Town Meeting approval required?
21. What is the Request for Proposals (RFP) likely to include?
22. How much affordable housing is expected to be built?
23. Will a traffic study be conducted?
24. What about walkability to and from the site?
25. What service is provided by Lexpress?
26. How many students are expected?
27. How will this proposal affect property values?
28. Will environmental concerns be considered?
29. Is the infrastructure adequate?
30. What about construction noise, impact on traffic, Lowell Street closures and contractor parking
31. What would be the income of people living there?
32. What are the opportunities for community engagement?
33. Outreach to Date
34. Will the units be affordable in perpetuity?
35. How will affordability be guaranteed in perpetuity?
36. Will any units be "attainable"?
37. Will any units be market rate?
38. Is there a projected cost of building 50 units? Are there sufficient AHT and CPA funds to cover the construction cost?
39. I would like to better understand the Lexpress service as it could be used by future residents of parcel 68-44