Special offer

To 40B or Not to 40B

By
Real Estate Agent with Re/Max Executive Realty

If you're from Massachusetts and a realtor, then you're familiar with Massachusetts 40B = This Massachusetts statute enables local towns and the zoning boards within those towns to approve affordable housing developments under less stringent regulations if the builder includes 20-25% of the units as affordable units.  

Now this statute is being challenged.  The voters this year will be able to vote to repeal this statute.  On question 2 of the ballot, if you vote yes, this statute will be abolished with no better alternative on the table. 

I have not totally decided how I will vote but I do know that 40b has been a good statue for my community and has helped to increase the number of affordable homes in our town.  As importantly, it's pushed the town itself to become more proactive in their affordable housing plans for the future, even if those plans may not formally be 40B projects.  The statute seems to have given towns like mine an elevated awareness of the issue of affordable housing.  

But I've been reading from the candidates, and I hear quite a few negatives.  In particular I hear Chelmsford has been negatively impacted - so one candidate notes. 

My question to those MA realtors and consumers in the group - What are your thoughts on repealing Chapter 40B? 

Comments (3)

Ann Sabbagh
Seacoast Mortgage Corporation, RI (20021119LB & 20031576LL), MA (MC2107) & CT - Pawtucket, RI
President, Sr. Loan Officer

Any program which allows for homes to be purchased at affordable prices, should NOT be repealed.  Especially during a time we need EVERY incentive possible to take homes OFF the market.   That's my 2 cents!  Thank you for the post.

Sep 11, 2010 12:29 PM
Anonymous
John Belskis

The ad on this page says it all $189,900 is well within the range of what the 40B affordable units fall into. There is an availability of 40B affordable units that far exceed the demand. 40B is creating units that far exceed the market needs. Other states have a greater rate of affordability than Massachusetts and NONE of them have legislation like 40B. Let's get rid of this failed law and have the legislature create an affordable housing law that is not corrupted by predatory developers and will move us into a better availability of affordable units. Vote Yes on Question2 on November 2nd and move Massachusetts out of the bottm of the affordability standings.

Sep 12, 2010 04:08 AM
#2
Marcia Kramarz
Re/Max Executive Realty - Medway, MA
CDPE,LMC,CBR

Thanks to both of you for thoughtful comments - on both sides of the coin - Anyone else with specific experience in their towns ?  You're right, John, that is an affordable townhouse but wouldn't accomodate a family of 4.  Again, what I'm observing might be from a small town perspective. 

Sep 12, 2010 04:28 AM