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Valley CDC seeks large CPC allocation to leverage state funds for 30‑unit studio building at 27 Crafts Ave
Summary
Valley CDC requested local CPC support to help leverage state funding for a 30‑unit all‑studio affordable apartment building behind City Hall; the developer says prior local CPC awards helped secure Department of Energy Resources and other state grants and that timing is critical for a February 2026 state funding round.
Valley CDC presented details Oct. 15 for a proposed 30‑unit affordable studio building at 27 Crafts Ave, a downtown infill parcel behind City Hall. William (Bill) (project manager, Valley CDC) told the Community Preservation Committee the site will provide 30 studio apartments primarily targeted to extremely low‑income households (about 30% area median income) and additional units at higher AMI thresholds to serve downtown workers.
Project design and public benefits: Valley CDC said the building will be all‑electric, meet stringent passive‑house style efficiency goals, include on‑site resident services and property management, indoor bicycle storage and a roof deck to provide outdoor space where the lot offers limited ground‑level options. The project team said the structure is designed to function as retaining wall infrastructure that the city otherwise must repair, converting an underused city parcel into tax‑producing housing.
Funding, leverage and timing: Valley CDC said it previously sought CPC funds in 2023 and used that local award to leverage additional state funding (Department of Energy Resources decarbonization funds and other grants). The presenter said state competitive funding rounds are highly time‑sensitive: Valley CDC described the project as advanced to 90% construction drawings and said a substantial local CPC commitment is required to make the February 2026 state funding round viable. The exact CPC dollar request presented Oct. 15 was characterized as the remaining local need to complete the financing package; the presenter noted earlier conversations about requesting up to $800,000 in prior rounds but did not specify an exact current dollar figure in the Oct. 15 presentation packet.
Site and community engagement: Valley CDC said it had conducted outreach with prospective residents (including people in shelters and supportive housing) and with downtown businesses to refine unit mix and services. The project team emphasized the applicant selection process will primarily use a lottery system for most apartments, with a small number of referrals from the Department of Mental Health for specific units.
Process and next steps: Valley CDC said it will apply for the state funding round in early 2026 and, if funded, expects construction to start in 2027 with occupancy targeted for 2028. The project team urged CPC consideration of local funding to leverage larger state investment and said project readiness and prior local support improve competitiveness. The CPC did not take a funding vote Oct. 15 and will accept public comment Nov. 5.
