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Concord's SHI holds just over 10% as two 40B projects move toward construction
Summary
The Concord Municipal Affordable Housing Trust reported the town's Subsidized Housing Inventory has been just above 10% since April and that two 40B developments have applied for building permits; the Trust also pulled funds from a downtown project pending an environmental review.
Matt Johnson, chair of the Concord Municipal Affordable Housing Trust, told the roundtable that "The Town's SHI has stood at just over 10% since April," and that two 40B projects — NOVO and the Residences at Thoreau — have filed building permit applications that would push the SHI to roughly 16% if built.
Johnson said the Trust estimates it would take roughly 4,000 additional market-rate housing units before the town would fall back below the 10% threshold that triggers 40B eligibility. The Trust also withdrew previously committed funds for the 91B Main Street project while seeking permission to conduct a Phase II environmental site assessment and finalizing the project's cash-flow model.
