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Community Housing Goals

Community Housing Goals. Stoughton has recently conducted a detailed community housing report, which set the dual goals of revitalizing the downtown area while increasing home ownership opportunities for residents of all income levels.

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Community Housing Goals

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  1. Community Housing Goals • Stoughton has recently conducted a detailed community housing report, which set the dual goals of revitalizing the downtown area while increasing home ownership opportunities for residents of all income levels. • Further, the report recommended exploring opportunities to revise zoning through smart growth, overlay districts and transit oriented development, while preserving the unique character of the community. Meeting community goals is the MISSION of MSC DEVELOPMENT LLC

  2. Stoughton Downtown Overlay DistrictThe View “Before”

  3. “Before” Conditions Rose Street, Stoughton

  4. “Before” Conditions Rose Street, Stoughton

  5. “Before” Conditions Stoughton Town Hall from Rose Street

  6. Stoughton Downtown Overlay District The View “After”

  7. Front View, Rose Street

  8. Side View, Porter Street

  9. Front Elevation, Rose Street

  10. Interior Photos, Rose Street

  11. Interior Photos, Rose Street

  12. Mixed Use Overlay District- Stated Goals - • Downtown Redevelopment • Higher & Better Use of Blighted Parcels • Targeted Demographics • A Vibrant, Mixed Use District • Affordable Housing Component MSC DEVELOPMENT LLC

  13. Affordable Component- Regional Comparison - Canton: 10% Milton: 10% Westwood: 12% Walpole: 10% Needham: 10% Hingham: 10% Holbrook: 10% Quincy: 10% Stoughton: 20%-25%??? MSC DEVELOPMENT LLC

  14. PROJECT ECONOMICS- 4 Story Limit - 4 Units x20% Affordability = 0 Units Milton: 10% Westwood: 12% Walpole: 10% Needham: 10% Hingham: 10% Holbrook: 10% Quincy: 10% Stoughton: 20%-25%??? MSC DEVELOPMENT LLC

  15. Additional PARKING AREA on Rose Street

  16. ECONOMIC REALITY- DeveloperLossPer Unit - Market Rate Sales Price: $320,000 - $340,000 per unit Affordable Rate Pricing: $140,000 per unit 1 Affordable Unit: Developer Lost Revenue: $180,000 - $200,000 2 Affordable Units: Developer Lost Revenue: $360,000 - $400,000 3 Affordable Units: Developer Lost Revenue: $540,000 - $600,000* 4 Affordable Units: Developer Lost Revenue: $720,000 - $800,000* * Project is NOT Economically Feasible MSC DEVELOPMENT LLC

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