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Trustees narrow town‑center housing proposals; developers propose mix of for‑sale and rental units
Summary
Trustee representative Chris reported trustees received eight RFPs for town‑center lots, narrowed to two finalists (Headwaters and Bond Brookside); proposals vary from rental LIHTC models to mixed for‑sale approaches with estimated unit ranges of roughly 40–70 and pricing possibly from about $300,000 to $700,000.
Chris, representing the trustees, updated the board on the town‑center development effort across from the Thunder River Theater. The trustees reissued an RFP after an earlier ArtSpace rental plan failed to secure low‑income housing tax credits; of eight initial proposals two finalists — described as Headwaters and Bond Brookside — were reinterviewed last week and trustees requested additional information before making a selection.
Chris said the proposals differ on financing approaches: one relies more heavily on private/philanthropic capital and could start design work quickly, while the other is more dependent on state grant programs and carries higher grant‑risk given the current state budget situation. He gave a broad unit estimate of "anywhere from ... 40 to 70" units and noted potential for a mix of rental and for‑sale units aimed at a range of affordability levels. Board members pressed about parking and zoning flexibility; Chris said trustees are open to adjusting parking requirements and pursuing transit and parking studies as part of the process.
No formal decision was made; trustees plan to request additional details from both finalists before the board of trustees selects a developer.
