What are the benefits for Lexington as a community of approving Article 33?

In recent years, tight standards for mortgage loans and high home prices have made it impossible for many people to buy homes, causing more people to become renters. Rental prices are out of reach for many, due to large numbers of renters and the scarcity of rental inventory. Homes with rents that are affordable will enable residents to pay less for housing, go beyond basic necessities and buy healthy food, have better access to health care, spend more at their local businesses, and live where they work. In turn, this creates opportunities for investing in Lexington’s future through the creation of jobs, improved mobility, and payments-in-lieu or tax revenue to the Town. Communities that are diverse and inclusive are more likely to form bonds and create a sense of belonging for all residents. Creating housing that is affordable is consistent with LexingtonNext, the Community Preservation Committee’s 2023 Needs Assessment, the Select Board’s Housing Goals and Priorities, and why the Affordable Housing Trust was created. Housing that is affordable affects all of us.

https://www.lexingtonma.gov/DocumentCenter/View/6946/5-Goal-2-Housing?bidId=,

www.lexingtonma.gov/DocumentCenter/View/10407/2023-Needs-Assessment---FINAL?bidId=

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1. Why is there an urgent need for housing that is affordable?
2. Who lives in affordable housing?
3. What are the benefits for Lexington as a community of approving Article 33?
4. What is Article 33 asking Town Meeting to do?
5. What is Parcel 68-44?
6. Why are the Select Board and the Affordable Housing Trust considering Parcel 68-44 for affordable housing?
7. Is the Parcel feasible to develop?
8. What are the goals for this parcel?
9. Why all affordable?
10. What comes next?
11. What are the Town's options for this parcel if Warrant Article 33 passes?
12. Who develops affordable housing?
13. How is affordable housing financed?
14. What will be the Town's anticipated commitment?
15. Why is a LIP 40B Comprehensive Permit recommended?
16. What is the Comprehensive Permit Process?
17. What is the process followed by the Zoning Board of Appeals?
18. How long will the whole process take?
19. Will the new MBTA Multi-family zoning and the revised Special Residential Development zoning create affordable housing?
20. Is another Town Meeting approval required?
21. What is the Request for Proposals (RFP) likely to include?
22. How much affordable housing is expected to be built?
23. Will a traffic study be conducted?
24. What about walkability to and from the site?
25. What service is provided by Lexpress?
26. How many students are expected?
27. How will this proposal affect property values?
28. Will environmental concerns be considered?
29. Is the infrastructure adequate?
30. What about construction noise, impact on traffic, Lowell Street closures and contractor parking
31. What would be the income of people living there?
32. What are the opportunities for community engagement?
33. Outreach to Date
34. Will the units be affordable in perpetuity?
35. How will affordability be guaranteed in perpetuity?
36. Will any units be "attainable"?
37. Will any units be market rate?
38. Is there a projected cost of building 50 units? Are there sufficient AHT and CPA funds to cover the construction cost?
39. I would like to better understand the Lexpress service as it could be used by future residents of parcel 68-44