Saturday, April 14, 2012
Another neighborhood expansion
This one bedroom colonial at 1156 North Pleasant street, only a stone's throw from North Amherst center or Hobart Lane and Meadow Street--ground zero for student party houses--sold in early March for $264,000, well below its accessed value of $373,500.
The new owners, Catherine and Morten Jensen-Hole, will go before the Planning Board on April 18 for a rubber stamp "site plan review" to e-x-p-a-n-d from one family (maximum of four unrelated occupants) to a two family, or eight unrelated tenants.
Even though the rental income potential doubles, the assessor does not increase the valuation of the property whatsoever, so the tax revenues to the town remains the same. Last week the Zoning Board of Appeals approved (as did the Planning Board) just such a conversion for a yellow house at 156 Sunset Avenue, but not before neighbors made their concerns loudly known about the quality of life issues associated with non-owner occupied student rentals.
Property Card for 1156 North Pleasant Street, Amherst