More Funds Requested for Ball Lane Housing Project 

Report on the Meeting of the Amherst Municipal Affordable Housing Trust, July 11, 2024

This meeting was held over Zoom and was recorded. It can be viewed here.

Present
Carol Lewis and Erica Piedade (Co-Chairs), Rob Crowner, Grover Wehman Brown, Allegra Clark, Gaston de los Reyes, and Alex Cox

Staff: Greg Richane (Housing Coordinator), Paul Bockelman (Town Manager), and Nate Malloy (Senior Planner). 

Valley CDC Requests More Money for Ball Lane Affordable Homes
Jessica Allan, of Valley Community Development Corporation (Valley CDC), stated that the Amherst Community Homes project of 30 affordable owner-occupied duplexes hopes to start construction in Spring of 2025. However, the $20 million project needs another $915,000 in financing guarantees before the project can break ground. Valley CDC asked the housing trust to contribute $350,000 in addition to the $375,00 it had pledged previously. The remainder of the shortfall will come from applications for $465,000 from Massachusetts Housing contingency funds and $100,000 from the Eastern Foundation, which promotes diversity in housing. The proposed project has one fully accessible and five “adaptable” units. Valley CDC has eliminated the rooftop solar panels from the initial plans, but hopes to receive a $500,000 grant from the state to add them back during construction.

According to its financial report, the Housing Trust will have $489,000 after it receives the $300,000 Community Preservation Act grant for FY2025. It also expects to receive $1.2 million in payments in lieu of affordable units when Barry Roberts’ development behind the former Hastings store on North Pleasant Street is completed. In asking the Trust for more funding, Valley CDC Real Estate Development Director Laura Baker encouraged the trust to use its funds to create housing in the near future, rather than saving it for projects that may not be completed for several years. In response to Baker, Town Manager Paul Bockelman noted that a housing project at the former East Street School and Belchertown Road in east Amherst being developed by Way Finders  is beginning the permitting process and will likely request more funds from the town. He agreed, however, that the Ball Lane project was an important one. 

If the trust gives an additional $350,000 to the Amherst Community Homes project, Amherst will have contributed a total of $1.475 million or $49,500 per unit. There is a possibility that the town can recoup some of that cost if some of the units that are sold to households making 100% of the Area Mean Income are later sold between 15 and 30 years after completion, when the increase in value will be shared among the public financing bodies. 

Project Timeline
Allan said that the Ball Lane development has an aggressive timeline with anticipated completion in February, 2027. Construction is planned to begin in 2025. The sales prices for the units will be set in July, 2025 with the lottery to select residents occurring from August, 2025 to January, 2026. The homes will be sold in the second half of 2026. After the final paving is done and the certificate of occupancy obtained, Valley CDC will transfer the management to Coldwell Banker and the homeowners’ association.

Beginning in September of 2024, Valley CDC will begin intensive marketing in conjunction with DVM Housing Partners, which provides affirmative fair marketing plans to projects. Twoneisha Wimbush is conducting the marketing for Valley CDC.

The housing trust will discuss the request for additional funding for the project at its August meeting.

Interfaith Housing Association Donates Remaining Funds to Housing Trust
The Interfaith Housing Association has been in existence since the construction of Village Park over 30 years ago. The association has been using the proceeds from the sale of Village Park to support affordable housing in Amherst. The organization was instrumental in the founding of Craig’s Doors and has donated to Olympia Oaks, East Gables, and the proposed East Street School and Belchertown Road project. The board of directors recently voted to dissolve the nonprofit and donate the remaining funds to the Housing Trust . 

Robert Ryan, Chair of the association stated that, after paperwork and accountant’s fees, there will be about $40,000 left in the account. By the organization’s bylaws, that money must be given to another nonprofit organization in Amherst. He is hoping that the money will be available at the end of the fiscal year in late September.

The Trust Co-chair Carol Lewis thanked Ryan and hoped that the town would publicize the gift when it was received.