Planning Board explores housing incentives for Conn's roundabout area in Northampton

November 04, 2024 | Northampton City, Hampshire County, Massachusetts


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Planning Board explores housing incentives for Conn's roundabout area in Northampton
In a recent meeting of the Northampton Housing Partnership, city officials gathered to discuss potential strategies for addressing the pressing housing needs in the community. The atmosphere was charged with urgency as they examined a detailed aerial map highlighting key areas for development, including the roundabout at Conn's and Pleasant Street, which serves as a gateway to the city’s mixed-use commercial district.

Three primary sites emerged as focal points for potential housing development incentives. The first, located on Holly Street, is the parking lot of the former Saint John Cantius Church. O'Connell Development has expressed interest in this site for workforce housing, marking it as a promising starting point for collaboration. The second site, the old probate court at 33 King Street, and the third, the former Honda dealership, were also identified as viable candidates for special tax assessments aimed at stimulating housing construction.

Additionally, the discussion expanded to include the former Gazette property on Con Street, which could accommodate larger-scale, higher-density housing. While not initially highlighted, this site was recognized for its potential to meet the growing demand for housing in Northampton.

A significant aspect of the proposed strategy involves a special tax assessment process that could provide developers with tax relief for five years. This financial incentive, combined with potential state support through MassHousing—offering up to $100,000 per unit in grants or low-interest loans—could help alleviate the financial burdens that have hindered housing development in the area.

The meeting underscored the challenges facing developers, particularly rising construction costs and stagnant rental rates, which have created a disconnect between the cost of building and the market's ability to support it. For instance, the developer of the old Gazette property reported that the financials do not support either hotel or housing construction due to these economic pressures.

As the meeting concluded, it became clear that the city is at a critical juncture. The need for innovative financial solutions and collaborative efforts with state resources is more pressing than ever. With housing demand on the rise, the Northampton Housing Partnership is poised to take significant steps toward creating a more sustainable and accessible housing market for its residents.

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