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Select Board approves $1.5M award to Habitat for Humanity for 14 affordable homes on Benjamin Nye Road
Summary
The Select Board unanimously approved a $1.5 million 0% loan to Habitat for Humanity of Cape Cod for land acquisition and construction at 48 Benjamin Nye Road, structured as $250,000 for acquisition and $1.25M for construction to create 14 deed‑restricted homes at ~60–80% AMI.
The Falmouth Select Board unanimously approved a $1.5 million award from the Falmouth Affordable Housing Fund on Sept. 23 to Habitat for Humanity of Cape Cod to support a 14‑home project at 48 Benjamin Nye Road.
Town staff said the request comprises $1.5 million toward land acquisition for a 7.5‑acre parcel; the board approved a motion, acted as trustees, to award the funds as a 0% interest loan with $250,000 allocated for land acquisition and the balance to be used for construction.
Elizabeth (Beth) Wade, director of land acquisition for Habitat for Humanity, told the board the organization has bank commitments and expects to fill remaining financing gaps, and that the project can proceed on the town manager’s recommended timing. She also said the organization is planning neighborhood outreach and a public meeting on Oct. 9.
“By structuring the timing toward construction rather than front‑loading acquisition, the town manages risk while allowing the project to continue,” a staff summary stated; Habitat’s representatives said they would fill remaining gaps before closing.
The board’s approval was unanimous. Staff and Habitat officials said the homes will be deed‑restricted and include a mix of three‑ and two‑bedroom units at approximately 60% and 80% area median income, and that the town manager is authorized to finalize loan documents.
