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Consultant finds modest developer bid reductions under smaller-FAR scenarios; committee urges clearer public framing
Summary
A consultant fiscal analysis presented to Needham’s committee shows modeled reductions in developer willingness-to-pay (tens of thousands of dollars in many cases) under lower FAR scenarios; committee members asked that slides be clearer about whether impacts apply to developers, sellers or homeowner end‑buyers.
A consultant's fiscal analysis presented at the Dec. 10 meeting of the Town of Needham’s Large House Review Study Committee estimated that reducing allowable floor‑area ratio (FAR) and other bulk controls could lower the price a developer is willing to pay for a teardown lot by amounts typically in the tens of thousands of dollars.
Committee members described the study’s method: the consultant compared the sale price of an original property with the expected sale price of a newly built house, calculated the delta, and then assumed a 15% developer gross profit to infer…
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