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Finance subcommittee recommends denying requested rent increases for three affordable housing complexes, including Bancroft Lofts
Summary
The Framingham City Council finance subcommittee voted to recommend denying a request to raise affordable rents at three apartment complexes after brief discussion and a public comment from a Bancroft Lofts owner.
The Framingham City Council Finance Subcommittee on May 1 recommended that the full council not approve requests to increase affordable rents at three apartment complexes in the city, including Bancroft Lofts.
The action followed a brief committee discussion and public comment by Justin Krebs, who identified himself as “one of the developers and owners of the Bancroft Lofts.” Krebs told the subcommittee that rising operating costs and inflation, and additional pressures from tariffs, had made it difficult for owners to maintain the properties without…
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