Landlord‑developer seeks $150,000 for four‑unit new construction with one subsidized unit
Summary
Robert Pointeri requested $150,000 from the Trust Fund to build a four‑unit building at 36 Fifth Avenue; one unit will be restricted below 60% AMI and one will be accessible. The lot is cleared and approvals are in place; he says the project is shovel‑ready.
Developer and long‑time Worcester landlord Robert Pointeri told the Affordable Housing Trust Fund on Sept. 30 that he is requesting $150,000 to support new construction of a four‑unit rental at 36 Fifth Avenue. Pointeri said one unit will be rent‑restricted below 60% of AMI and one unit will be accessible.
“We're literally shovel ready,” Pointeri said, explaining the lot is cleared, zoning approvals are in place and he has closed a construction loan for $460,000 with Savers Bank. He said the proposed unit mix is four small one‑bedroom units (efficiencies) and that he has hand‑drawn blueprints available for trustees to review.
Trustees asked about development experience, contractor capacity and affirmative fair housing marketing requirements tied to Trust Fund awards. Pointeri said he has been a landlord since 2005 and has worked with housing agencies that supply voucher tenants. He said he planned to retain an affirmative fair housing marketing consultant and that he has letters of recommendation about property management and maintenance.
If awarded Trust funding, Pointeri said he would aim to finish the project in six to eight months, weather permitting. The application will be included in Tier 1 scoring for the Oct. 22 meeting.
