Trend to build seniors housing within school ‘footprints’ growing
LONDON: The trend to develop seniors housing within school precincts is now a rapidly emerging over 50s housing option.
The long-touted proposal to convert the old Oxford School building into affordable housing for seniors will finally begin next year thanks to the acquisition of tax credits and subsidies awarded by the state.
According to a press release from state Sen. Mark Montigny’s office, the Oxford School Residences will consist of 54 one and two-bedroom units, 45 of which will be reserved for seniors who are either homeless or well below a certain income threshold. As required by the state’s Department of Housing and Community Development, supportive services will also be offered on location for residents.
Paul Foley, the director of economic development for Fairhaven, said that construction of the Oxford School Residences is slated to begin in March 2021.
The project itself is being overseen by Stratford Capital Group.
The Oxford School Residences project was one of 28 projects in 19 communities across the Commonwealth that the Baker-Polito Administration selected as recipients of the 2020 Affordable Rental Housing Program in October, which awarded $105.7 million in direct funding and $53 million in tax credits.
The project itself was first approved by Fairhaven through Special Town Meeting in June 2016.
Opponents of the development at Town Meeting were concerned about traffic impacts that a new development would bring would bring to the Benoit Square of North Fairhaven; they also contended the town already had sufficient affordable housing for seniors nearby through the Housing Authority and other sites.
Supporters of the development argued that the town had been trying to find a suitable proposal from developers for the Oxford School for years only to have the building continue to deteriorate and cost the town money to preserve it.
The town had entered into a tentative purchase and sale agreement with Stratford Capital Group for $325,000 for the Oxford School Residences.
Foley explained that financing the development was the chief delay for the project and it took Stratford Capital Group years to acquire the federal and state low-income tax credits and subsidy funds.
“They had been waiting for these tax credits. It took several years to get them,” said Foley.
Another financing source came from the town’s Community Preservation funds, though not initially. Back in January 2017, the town initially denied Stratford Capital Group $325,000 in Community Preservation Act grant funding on the grounds it was too much to dedicate to one project.
A compromise was reached between parties in which two installments of Community Preservation funds were approved through separate town meetings in 2017 and 2018, totaling $200,000.
Foley also pointed to the final hurdle to the Oxford Residences project: parking requirements. The only space available for new and additional parking was from Livesay Park. An easement was needed in order for parking and basic utility access for the facility. Because of environmental protections placed on open space through Article 97 of the State Constitution, this almost didn’t happen.
Senator Montigny got involved by advancing the passage of special legislation in June of this year which allowed for a land swap, essentially trading a piece of open space from the parkland for another parcel that would be permanently preserved, thereby ensuring no net loss of open space. Open space at 87 Main St. was chosen for the land swap.
It was this legislation that made Oxford Residences eligible for tax credits.
Said Montigny in the press release, “I greatly appreciate the steadfast commitment by the town and all stakeholders to ensuring this development will finally come to fruition and provide some much needed housing relief in Fairhaven.”
“Increasing quality, affordable housing options for senior citizens is a primary concern for my constituents,” he said.
