G reetings:

LDS is turning 20 on November 1, 2019!

It is humbling to think back to how it all started twenty years ago: Signing a nine month office lease with three clients! And we started our first electronic newsletter in 2009 during the "Great Recession".

We could not have reached this milestone with out our loyal clients and  talented staff. We rejoice in hearing  from LDS alum as they grow their families and careers.  

In addition, we have been privileged to call  233 Needham Street our home.  Thank you to the amazing staff at Newton Executive Office Center for keeping our phones humming. 

Furthermore, we also are grateful to the many housing consultants, attorneys and governmental agencies who refer business to LDS. 

And last but certainly not least, we are fortunate that our home state of Massachusetts is an innovator and leader in affordable housing production.

With that in mind, please contact us to reserve a study slot for the DHCD February 2020 round.
LDS News
October 2019
In This Issue
 Client Success Stories - Congratulations!
2019 Funding Round Awards:  Congratulations 
Dakota Partners, Brookside Terrace, Phase I, E.Greenwich, RI
Harborlight, Cabot Street SRO's, Beverly, MA
Nuestra Comunidad, Bartlett Building A, Roxbury, MA 
Mission Hill NHS, Parcel 25, Phase 2, Mission Hill, MA
POAH, Whittier Phase 2, Roxbury, MA
Caleb Group, Sirk and Chestnut Square, Lowell, MA
GreatBridge Properties, Tri-Town Landing Phase IV, Lunenburg, MA
DS Development, Broadway Building, Methuen, MA
Dakota Partners, Depot Village, Hanson, MA
Grantham Group, Lawson Green, Scituate, MA
Pennrose, Westbrook Village, Phase II, Hartford, CT
NOAH, Aileron Condominiums, E. Boston, MA DND Funds


HAC Finds in Favor of Developer in Braintree
In June 2019, the Housing Appeals Committee issued a decision finding in favor of the developer 383 Washington Street LLC. With PEL's in hand, the developer applied the Braintree Zoning Board of Appeals for a  comprehensive permit for 70 rental units and 8 homeownership units.The town attempted to invoke a safe harbor, claiming it had met its 1.5% general land area minimum ("GLAM"). After two hearings in front of the full committee, the HAC found that the Town of Braintree had not met its GLAM safe harbor. Lynne Sweet was an expert witness for the developer, working closely with the GIS specialist and providing title research.This was the first HAC decision incorporating the new DHCD GLAM Guidance. 

The developers are now in front of the Braintree Zoning Board of Appeals.  
 Research and Analysis
New Bedford HDIP Study
LDS worked on a study for Lafrance Hospitality for a 28 unit mixed-income development with first floor retail in the historic downtown. In particular, we enjoyed learning about the variety of economic development projects in New Bedford including the UMass expansion and the plans to build a wind farm production facility.   

Fiscal Impact Studies
LDS has worked on a number of fiscal impact studies and affirmative fair marketing plans in connection with plans to redevelop 1114 Beacon Street in Newton, MA.. We provided fiscal impact studies for rental housing, a  marijuana dispensary and most recently, condominium ownership. 

DHCD October 2019 Mini Round
LDS provided a record nine market studies and/or updates for income restricted rental housing for the October 24, 2019 DHCD mini round. Five developments are located in Boston and the remainder in Auburn, Medway, Taunton and Worcester. 

City of Boston DND September 2019 Round
LDS provided a home ownership condominium market study for Madison Park DC and a rental study for Codman Square CDC.
Permitting, Marketing and Monitoring
M.G.L. Chapter 40B Permitting 
Congratulations to our clients in Wellesley, North Reading and Melrose who all received Project Eligibility Letters from MassHousing. Wellesley should be wrapping up with the ZBA in the next few months. 

LDS is working on several market studies, financial analysis and project eligibility applications.

Affirmative Fair Marketing and Resident Selection Plans ("AFMRSP")
L DS worked closely with Debbie Piltch from Maloney Properties to create the AFMRSP for Chestnut Hill Realty in connection with the pending Tax Credit Funding/Bond for the Residences of South Brookline. ROSB will be 175 units, 80% market and 20% income restricted to households at 50% of AMI.  LDS also provided the market study for inclusion in the MassDevelopment bond application.

LDS worked with Lager Real Estate and Mark Babrowski on a 40R AFMRSP for a 40 unit mixed income rental apartment development to obtain approval from the Town of Norwood and DHCD. The property is located at 129 Guild Street in Norwood.    LDS also provide a market study letter to assist in the sale of the development to its investors.    

LDS also assisted Stone Hill at Andover Assisted Living prepare for their affordable housing lottery. LDS's goal was to create a process that addressed the needs of the lottery agent as well as the assisted living staff given the complexity of marrying financial needs with physical and mental needs.

In all cases, LDS has provided  lottery agent referrals.

Reading Woods Monitoring
LDS has been awarded a contract by the Town of Reading, MA to take over the monitoring of Reading Woods which has 43 units income restricted home ownership units permitted under M.G.L. Chapter 40R.
LDS Administrative

Middlesex County Assessors Association
Lynne presented to the association in September relative to assessing affordable home ownership. It was a lively discussion with many interesting questions.
 
Community Development Housing Tax Credit
As LDS does every year, we will direct our donation to MACDC to support our numerous community development corporation clients.

Work  Anniversary
Many of our clients have had the pleasure of interacting with Kyra Spotte-Smith who just celebrated her third work anniversary at LDS in September.. Thank you for your all your hard work. It has been a pleasure to see you grow.

LDS 20th Anniversary Celebration
We look forward to celebrating this milestone with our staff and friends in November.