13:45The Devon Crest housing project, a key topic of the meeting, aims to preserve affordable housing in a suburban environment. The DCTA, represented by Connie Sullivan and Denise Peralta, shared their journey since June 2021 in negotiating the acquisition of the Devon Crest property. Initially built for military families in the 1940s, the property faced significant rent hikes under Brady Sullivan, putting tenants at risk of displacement. The DCTA’s objective is to protect current tenants and eventually enable tenant ownership of the property. Despite challenges in engaging Brady Sullivan, the DCTA executed a purchase and sale agreement in March 2025.

10:56Richard Hanken from the Shocket Companies provided an overview of the project, emphasizing their mission-driven approach to preserving low-income housing. The DCTA’s request for proposals in early 2023 sought developers to partner with Brady Sullivan. Secretary Augustus of the housing and living communities department played a role in advancing the project, with the acquisition process remaining confidential until due diligence concluded.

21:12The Devon Crest property spans 37 buildings, primarily two-unit structures, totaling 114 units across four streets. Brady Sullivan renovated 79 of these units to market rate, while plans are in place to rehabilitate the remaining 35 units. The project also aims to create six handicapped-accessible units to comply with state requirements. Environmental assessments exceeded expectations, covering physical conditions and income levels of residents. The project plans to cap new occupancy at 80% of Area Median Income (AMI), with 35 units restricted to 60% of AMI.

34:57Financially, the project is estimated at $40 million, including acquisition, construction, and reserves. The DCTA requested $5,000 per unit from the town, totaling $570,000, as part of their financial strategy. State support is anticipated, with expectations of $10 to $10.5 million in grants and 35 vouchers.

27:48The use of CPA funds for the housing project sparked discussion. Committee members debated the adherence to CPA guidelines, which prohibit funding for market-rate units. The necessity of restricting unit values to maintain affordability as market prices rise was highlighted. Concerns about compliance with CPA guidelines arose, particularly regarding market-rate rents. The project aims to designate some units for residents earning below 80% of AMI. The long-term strategy for maintaining affordability was discussed, emphasizing the need for more units within the 50% or 60% AMI bracket, though this could incur substantial costs.

The committee considered the potential for tenants to purchase the property, aligning with the goal of tenant empowerment. Regulatory aspects surrounding CPA funding were examined, with suggestions to designate funds for specific project aspects to ensure compliance. The importance of cooperation with the town council and legal experts was acknowledged to meet all regulatory requirements.

The financial aspects of the housing project were further scrutinized, with a focus on the $570,000 request’s purpose. A shift in application focus to the 35 units, rather than the entire 114, was proposed to gain support at the upcoming town meeting. Environmental assessments confirmed the property’s safety, with inspections for radon, air quality, lead, and asbestos completed. The project’s $40 million cost breakdown was requested, outlining acquisition, renovation, and operational expenses.

01:14:25Discussions also touched on the potential funding from the town’s Affordable Housing Trust, with $200,000 previously allocated for rental assistance. The trust holds approximately $250,000 for other initiatives. The committee voted to advance the application to the next meeting, scheduled for July 2nd, emphasizing the importance of a well-prepared application for the public hearing.

01:19:53Additionally, the potential use of CPA funds for restoring playing fields in Peron Park was discussed, with concerns about compliance with CPA regulations for certain aspects like lighting and batting cages. The integration of canoe and kayak access into bathhouse renovations was emphasized, highlighting funding decisions’ broader community impact.