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Musings
When both intuition and logic agree, you are usually right.
Original developer to take back 55+ project
Written by Justin Graeber
Wed, Jan 30, 2008 20:38
The Stonebridge Commons development started off in the hands of local developer Mark Ridder, and that’s where it looks like it will end.
Timothy Bodah, survey manager for Coneco, presents a Form A to the Planning Board Tuesday night.
Although Ridder still holds the mortgage on the development, the land is currently being developed by Pulte Homes. It was planned, at one time, to include 121 units. There are only 17 built now, however, and only six are occupied.
The permitting process for Stonebridge began over five years ago.
Ridder came before the Hanson Planning Board Monday night more to touch base than present any actual plan. However, the board seemed to be willing to listen to all the options when it comes to the future of the property.
Pulte has been in default since Sept. 15 of 2006, said Ridder. He will be taking back the land, off Winter St., at an auction Feb. 12.
“There’s not going to be any fight,” he said of the national development company. He also pointed out that Pulte is far from bankrupt, as they have projects in Rhode Island and on the West Coast.
Stonebridge Commons was planned as a 55-and-over community at a time when many developers were trying to cash in on a wave of empty nesters looking to downsize. However, the demand for such housing complexes quickly evaporated, leaving unoccupied 55-and-over developments all over the state.
“Everybody did it, and then there was just a glut of them,” said Planning Board member Gordon Coyle.
Ridder talked about the possibility of changing the age restriction on the property, creating traditional single-family homes, or even a 40B or 40R project.
40B projects are exempt from most town zoning laws, and offer a certain percentage of below-market units. Ridder would need to go before the Zoning Board of Appeals for such a project. He would need to go to the ZBA as well as Town Meeting for a 40R, also known as a “smart growth” project. 40R projects are becoming an alternative to the 40B projects, which are losing favor around the state.
The main concern of Planning Board members was the residents who had already bought into the development, expecting a certain community.
“My main concern here is that we have people who signed up for something,” said board member David Nagle.
Ridder said he doubted the current residents of Stonebridge Commons wanted to stare at empty lots.
“I’d be surprised if they said, ‘We don’t want something to happen here,’” he said.
Before Ridder left, Town Planner Noreen O’Toole asked him about a four lot development where there is still an outstanding punch list. Ridder said he would be willing to work on the items, but would need to wait for better weather. The board will revisit the matter in the spring.
In other business:
• The board approved a Form A/ANR on Main St.
• The board told the residents of Collamore Estates that work on a crushed storm drain would begin when there is a break in the weather.
A contractor has been hired by the subdivision’s developer, but the town’s engineer will be present when the work is done. The matter will be on the board’s agenda at their Feb. 11 meting.
• An adequate access determination for a road improvement on Hawthorne St. was continued until the Feb. 11 meting.