MAHT Deal Good to Go

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Nashoba Publishing Online, Posted: 06/18/2015 01:41:29 PM EDT

By: M.E. Jones, Correspondent

HARVARD — The I’s have been dotted and T’s crossed on a contract the Municipal Affordable Housing Trust had been negotiating with NOW Communities LLC, the developer of Devens Green, a 124-unit clustered housing development slated for Grant Road in Devens.

Trustee David Hopper told selectmen Tuesday night that the anticipated agreement has been signed by both parties, based on the offer MAHT made a few weeks ago to pay the developer a $140,000 subsidy to ensure that 25 percent of the rental units in the pending project will be affordable by DHCD standards.

The developer agrees that 40 rental units planned for Phase 2 will be priced to meet the affordable benchmark MAHT was aiming form 80 percent of average median income, Hopper said. Another 10 units will be in the “moderate” price range, he said.

Read more via MAHT deal good to go – Nashoba Publishing Online.

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