New housing development features affordable units in Chestnut Street building

The Zoning Board of Appeals meeting held on April 17, 2025, in Needham, Massachusetts, focused on the development of a new residential building that will include affordable housing units. The proposed project will feature a total of six units: five two-bedroom, two-bath units and one one-bedroom, one-bath unit.

Among these, two units will be designated as affordable housing. The one-bedroom unit on the first floor and one of the two-bedroom units on the third floor will meet the criteria for affordability. Both first-floor units will be handicap accessible, providing essential accommodations for residents with disabilities. Each floor of the building will also include a laundry facility, ensuring convenience for all tenants.

The affordable units will be available to households with an annual income not exceeding 80% of the area median income, adjusted for household size. According to the executive office of housing and livable communities, the rent for the one-bedroom affordable unit is projected to be approximately $2,605, while the two-bedroom unit will have a rent of about $2,931. In contrast, the market rates for these units are significantly higher, with the one-bedroom unit expected to rent for around $2,939 and the two-bedroom unit for approximately $3,229.

The building will feature a main entrance accessible from Chestnut Street, along with a secondary entrance on the side. This development aims to enhance the availability of affordable housing options in Needham, addressing the growing demand for such units in the community. The board's discussions highlighted the importance of providing accessible and affordable living spaces for residents in the area.