Rich,
What a great idea! Sounds much better than making Civico developers wealthier
than they already are.
Civico is a Boston based billion dollar construction company.. Unfortunately,
the CEO's of Civico and Pugh Management could care less about preserving the
wonderful landscape and wildlife of Lincoln.
Regards,Theresa Kafina
On Thursday, November 2, 2023 at 09:56:28 AM EDT, Rich Rosenbaum
<s...@bcdef.com> wrote:
But I wonder what a million dollars can build! Can we build 2 multi family
homes, each house with 4 apartments that the town owns out right and rent them
out at true affordable price of 25-30% one’s take home pay?
Here is one multi-family construction cost calculator.
Note 1) the default is for 700 sq. ft; I would think 1000 sq. ft. is a more
reasonable size, 2) this is a national average, local costs are probably a bit
higher
https://www.multifamily.loans/apartment-finance-blog/multifamily-construction-costs-an-investor-guide/#apartment-complex-construction-calculator
On Thu, Nov 2, 2023 at 7:54 AM Susanna Szeto <szeto...@gmail.com> wrote:
Yes, for sure those units will remain affordable in perpetuity! But I wonder
what a million dollars can build! Can we build 2 multi family homes, each
house with 4 apartments that the town owns out right and rent them out at true
affordable price of 25-30% one’s take home pay?
We gave one million dollars to the developer in exchange for a guarantee of
affordability when the rental price is not affordable by the common folks!
Susanna SGiles Road
On Nov 1, 2023, at 2:56 PM, Margaret Olson <s...@margaretolson.com> wrote:
Just to be clear: the Oriole Landing affordable units are protected in
perpetuity; the change of ownership is immaterial to the status of those units.
On Wed, Nov 1, 2023 at 2:27 PM Karla Gravis <karlagra...@gmail.com> wrote:
If we wanted to allow a developer to build mixed-use (commercial + residential)
in the mall area, we can always do so through town meeting. We do not need to
wait for HCA.
However, because Civico has said they do not want to go through town meeting
again (slide 34 of the SOTT deck linked below), the HCAWG wants to rezone the
mall area through HCA, even though the acreage does not count towards our
compliance requirement. Rezoning through HCA also means that we lose the
ability to vote on actual plans/blueprints.
I am not against redeveloping the mall area. However, let's not reduce our
residents' input by bending to the will of a developer. Let's remember we gave
Civico a $1M no-interest loan for the 15 affordable apartments in Oriole
Landing, and they turned around and sold the building for $32M. Like someone
else has said on this thread, it is indeed troubling.
Link to
deck:https://www.lincolntown.org/DocumentCenter/View/85116/2023-SOTT-HCA-Slide-Deck-wtih-Notes?bidId=
---------- Forwarded message ---------
From: Margaret Olson <s...@margaretolson.com>
Date: Wed, Nov 1, 2023 at 11:40
Subject: Re: [LincolnTalk] the Rural land foundation and the Housing Choice Act
To: Deborah Howe <deborahh...@mac.com>
CC: <Lincoln@lincolntalk.org>
By law all property has a "by-right" use. In the case of the Mall the base
zoning is B-1, so the current by-right use is retail, businesses, and
professional offices.
On Wed, Nov 1, 2023 at 9:41 AM Deborah Howe via Lincoln
<lincoln@lincolntalk.org> wrote:
Speaking as a concerned citizen:
The inclusion of by-right Mall development in the HCA, and resulting need for
septic upgrades funded by state grants sounds like a case of “If we had some
ham we could have ham and eggs, if we had some eggs.”
And Colleen, I agree with you that the Mall sale should be decoupled from the
HCA. That area is one of the most visible elements of Lincoln’s “institutional
spine”, and the decisions about how it is developed shouldn’t be sold off
without a 2/3 Town meeting vote. This land is not just an RLF asset; given its
location and presence in the South Lincoln streetscape it is a Town asset.
Deb Howe
Sent from my iPad
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