UMass Southwest Towers: 6 were proposed, 5 built
The overwhelming influence of our local Juggernaut, the University of Massachusetts, comes shining through in the "Town of Amherst , Massachusetts Housing Production Plan" unveiled last night at the Housing & Sheltering Committee public forum.
Simply put, the oldest law in capitalism at work: supply and demand. UMass provides an overwhelming supply of college aged youth (now comprising 59.4% of Amherst's population), which drives up demand for too few housing units, which sends average prices through the roof.
Population increased 2.75 times vs housing only 2.3 times
And anytime someone tries to build anything bigger than a dog house, the neighbors sharpen their pitchforks and fire up the torches.
Most impacted are what's left of the classic nuclear family: According to the report, adults age 25 to 44 saw a staggering drop of 45% since 1990.
The housing picture could soon change, however, as the consultant's report illuminates how precariously close Amherst now is to the dreaded 10% threshhold for affordable housing (10.8%).
And with 204 units at Rolling Green Apartments threatening to come off the affordability list, that would bring overall percentage down to well under 10% (8.5%).
And then, via a Ch 40b comprehensive permit, BIG time developers get pretty much a blank building permit, as long as 25% of the units are affordable.
Even just the eviction of low-income Section 8 tenants from 24 units at Echo Village Apartments by housing kingpin Jamie Cherewatti, AKA Eagle Crest Management, will reduce our affordable housing index by one-quarter of one percent.
The clock is ticking.
Did the town of Amherst really lower flags to half mast in honor of Hugo Chavez's death?
ReplyDeleteNo. But don't go giving them any ideas.
ReplyDelete"which sends average prices through the roof."
ReplyDeleteI'm sorry, but that's just not true. I just went on to craigslist and the price for houses and apartments are about the same as in the rest of western Mass.
$800 / 1br Amherst
$850 / 1br Sheffield
to get the whole picture wondering how many dorm rooms (and numbers of students they house) were added in this time frame?
ReplyDeleteMost impacted are what's left of the classic nuclear family: According to the report, adults age 25 to 44 saw a staggering drop of 45% since 1990.
ReplyDeleteTo all of you who called me names when I said this, well....
And I'd like to see what percentage of the remaining 55% have family living in Amherst, and how many are living in a property owned by family members.
And with 214 units at Rolling Green Apartments threatening to come off the affordability list, that would bring overall percentage down to well under 10% (8.5%).
ReplyDeleteUmmm, they already did.
Rolling Green & Puffton IV had a 25 year deal for the below-market units in exchange for construction financing (Mill Valley did the same sort of thing) and this has expired.
What happened was that there was a Section 8 Preservation Program -- everyone who was in a subsidized unit in either RG or Puffton was given a Section 8 Voucher. These vouchers are portable, people can and do take them out of town and out of state.
And when the tenant dies or, perish the thought, gets a decent job with an income too high to qualify for Section 8 anymore, the voucher (I think) evaporates.
The problem is that there is an affordable "countable" apartment in Amherst only as long as the Sect 8 voucher holder remains there.
Because Section 8 status is portable, typically held with the voucher recipient and not with specific housing units, housing lived in by Section 8 tenants doesn't count as affordable housing for the state's 10% threshold.
ReplyDeletethere are few decent 1 bedroom apartments available in Amherst for $800. I am thinking if such as listed on craigslist, they are probably either small in size (500 sq ft or less) or have other significant issues.
ReplyDeleteWhy doesn't UMASS build more dorms?
ReplyDeleteThe number of BEDrooms in Amherst has grown at a much faster rate, and surely exceeds the demand - ever hear of McMansions?
ReplyDelete