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LDS Gets Quick Results
Greetings!
LDS Consulting Group, LLC has wrapped up a successful housing study in downtown Danvers. Upon completing the study, LDS facilitated a partnership between a local nonprofit organization and a property owner in Danvers to secure property for development of affordable rental housing. LDS also helped Danvers obtain technical assistance funds to support the proposed affordable housing project.
LDS also completed an RFP process for an assisted living management company, was approved to provide market studies to MassHousing and expanded its services to new clients.
In addition, the consulting firm:
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is working on a new development in Amesbury,
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is preparing to be an expert witness in new 40B cases,
- continues to support the Campaign to Protect Affordable Housing, and
- is looking for a market research associate.
We wish you all an enjoyable and relaxing summer. |
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LDS Develops and Executes RFP for Assisted Living Management Company
LDS recently helped Worcester Community Housing Resources (WCHR) search for and secure an assisted living management company for a proposed 78-unit affordable assisted living development in Gardner, Massachusetts. Working with WCHR's executive director Matthew Wally, LDS issued a request for proposal to 10 targeted companies and received 8 confidentiality agreements and 5 complete proposals. LDS's work included creating the request for proposals, scoring responses, facilitating interviews and assisting the client negotiate business terms. Congratulations to Worcester-based Grantham Group, which entered into an Assisted Living Management Agreement with WCHR on July 5, 2010.
LDS would also like to congratulate the entire development team on closing the $20 million deal in early July 2010. The deal included financing from a U.S. Department of Housing and Urban Development pilot program and other state and federal sources such as Tax Credit Assistance Program (TCAP) funds and historic tax credits. Key team members include co-developer William Berg of Trafalgar Capital; financial consultant Richard Lefferts of Commonwealth Collaborative; attorney David Abramowitz of Goulston and Storrs; project architect Henry Shadler Associates; and Metric Construction. |
Positive Outcome in 40B Case Supported by LDS
On June 21, the Massachusetts Housing Appeals Committee (HAC) decided in support of Sugarbush Meadows, a Chapter 40B development in Sunderland, Massachusetts. LDS principal Lynne Sweet served as an expert witness on behalf of the developer in the case. Rebutting the testimony of the Town of Sunderland, Lynne spoke to the regional need for affordable housing and discussed other zoning matters, including the application of sustainable development principals in the Town's bylaws. Read the full HAC decision here: Sunderland, Sugarbrush Meadow HAC Decision.
Lynne is now working with Freeman Law Group on two new 40B cases. In a case before Middlesex Superior Court, she will testify as an expert witness on behalf of developer Cambridge Housing Authority, commenting on the regional need for affordable rental housing. In a separate HAC case, Lynne will serve as a rebuttal witness, supporting a developer of a homeownership development in Acton.
LDS encourages you to support the Campaign to Protect the Affordable Housing Law and vote No on the November 2 ballot question to repeal 40B. Chapter 40B, the state's Affordable Housing Law, helps make homes affordable to seniors and working families across Massachusetts. It is the primary statewide law that promotes the development of affordable housing in all regions of the state, including urban, suburban, and rural communities. Massachusetts remains an expensive place to live. The Affordable Housing Law has been responsible for 80% of the affordable housing created in Massachusetts over the past decade, outside the major cities. Please visit the new website www.protectaffordablehousing.org and check out resident profiles, the latest news, and sign up to get a lawn sign or explore other ways to volunteer and support the movement. |
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LDS Completes Downtown Danvers Housing Study
Lynne Sweet presents to community stakeholders | LDS has completed its study for the Town of Danvers, presenting its findings in two separate presentations to the Affordable Housing Committee and area stakeholders in June.
LDS was hired by the Massachusetts Department of Housing and Community Development (DHCD) under the Massachusetts Downtown Initiative Program to work with the Danvers Planning Department. The work included touring the downtown area, identifying vacant and underutilized sites, speaking with stakeholders, examining existing housing supply, analyzing demographics, identifying funding mechanisms, completing a report, and presenting findings to the community. LDS also helped the Planning Department apply for Massachusetts Housing Partnership (MHP) funding for site-specific pre-development assistance.
In addition to providing educational tools to the community, LDS matched a project sponsor to a site. Beverly Affordable Housing Coalition is now working on developing 58-60 Purchase Street into 8 units of affordable rental housing. LDS looks forward to working with Beverly Affordable Housing Coalition on future funding applications. |
Brokerage: BrightView Concord River Assisted Living Opens
Congratulations to The Shelter Group, which celebrated the grand opening of its newly constructed 86-unit Assisted Living Facility on Concord Road in Billerica, Massachusetts on May 11. LDS represented the seller of the land when Shelter acquired the property in November 2008.
In other brokerage news, LDS is thrilled to be working again with GreatBridge Properties on a new adaptive re-use development in Amesbury, Massachusetts. LDS is representing GreatBridge on the purchase of the Chatham Furniture property, which includes a mill building and a vacant lot. The concept plan calls for approximately 40 affordable rental units. In addition to providing brokerage services, LDS is preparing the market study for the project, assisting the client with permitting and community relations, and providing support for the Massachusetts One Stop funding application in September 2010.
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Other News: New Clients, New Designations
LDS welcomes new clients Madison Park Development Corporation and Chinese Economic and Development Corporation (CEDC). LDS completed market studies to accompany the two organizations' funding applications to the City of Boston Department of Neighborhood Development. The studies will also be used to apply for the Massachusetts One Stop funding round in the fall. Madison Park has proposed a 43-unit affordable multi-family rental housing project on two sites adjacent to Dudley Square. CEDC has proposed a 43-unit affordable multi-family rental housing at 10-12 & 14 Oxford and 3-4 Ping On Streets in Chinatown.
In addition, MassHousing has placed LDS on its appraiser's list for preparation of Market Study assignments. |
LDS is taking reservations for market studies for the Massachusetts fall funding round on September 16, 2010.
Sincerely,
Lynne D. Sweet
Managing Member
LDS Consulting Group, LLC 233 Needham Street, Newton, MA |
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