Discussing the Plot Plan for Affordable Housing on Cape Cod
Clip Summary
Bob meets with Joe Valle, the developer and general contractor for the River Hill development in Mashpee, Massachusetts, on Cape Cod.
Although Mashpee has zoning laws that restrict housing development to minimum two-acre lots, Valle found that this land could not be adequately broken up into two two-acre parcels. So, he applied for zoning relief through Massachusetts' Act 40B and was able to use the 4.5-acre parcel to build 11 homes, four of which are affordable.
Valle shows Bob the plan for the new neighborhood, indicating where the affordable homes will be located. He also shows him the available house-plan options. Homebuyers may choose from a Colonial, a Cape, or a ranch model. All homes will be of the same size and specifications, ranging from 1,320 square feet to 1,600 square feet. They will be finished with wood siding, either cedar shingle or clapboard.
Valle explains that 40B affordable houses may not differ in size, appearance, or materials from their market-priced neighbors. Valle is also limited, by law, to a 20 precent profit on the development. This will come mostly from the market-priced homes that should sell for around $345,000.
He does remark that challenges, like the increase in building supply prices, may limit his profit even further. Still, Valle is excited to use the law as a tool to build beautiful, affordable housing for families who want to live and work in the community.
