Housing & Sheltering Committee from right: Andrea Battle, Nancy Gregg, Aaron Blodgett, Greg Stutsman
A September start for leasing is more reminiscent of an apartment complex geared towards students, or what neighbors refer to as THEM.
In addition, August just happens to coincide with a time frame where Rolling Green owners, a huge Chicago based real estate investment firm, finish paying off a 15 year low-interest state loan, and can then bring all 204 units up to market rate.
Thus taking them out of affordable housing stock, which instantly drops Amherst to only 8.5% affordable, well below the 10% threshold.
Our little college town is then at the mercy of BIG time developers doing pretty much whatever they want as long as 25% of the units are set aside as affordable. It's called CH40B and it's use is about as welcome as giant mutant carnivorous ants.
The town has been aware of this August, 2013 deadline for at least five years with little progress towards an equitable solution since then. And time is running out.
Former Select Board Chair Gerry Weiss appears before Amherst Select Board during unscripted 6:30 PM Public Question period last week to air concerns about Rolling Green going off line