SHREWSBURY – Developers have taken the next step in bringing a nearly 200-unit development to Shrewsbury.
The Board of Selectmen gave Town Manager Kevin Mizikar permission to negotiate a Local Initiative Program (LIP) agreement with developers KIG Real Estate Advisors for a proposed 40B housing development at 104 Main Street during their September 13 meeting to start.
Town Manager Kevin Mizikar said KIG had formally applied to enter the Friendly 40B process with Shrewsbury, meaning the town and developer would submit a joint application for the Department of Housing and Community Development’s local initiative programme.
According to Mizikar, this process would allow the city to work with the developer to achieve a “mutually acceptable” outcome within the limits of the state’s Affordable Housing Act 40B. That would ensure that a sufficient number of units would be affordable and that public infrastructure would be protected during the project, he said.
“It puts the city in the best position to have a say on this project,” Mizikar said.
The opposite of this process is an “unfriendly 40B” where the developer would seek full approval from the Zoning Board of Appeals. According to Mizikar, if a developer chose to go down this route, the Board of Selectmen would have no say in the project.
“It’s something we welcome when a developer wants to build a large project,” Mizikar said.
Chairman Moe DePalo, this is not to promote a 40B project.
“This is an attempt to enter into a dialogue, to try to identify the city’s interest as best we can in a project that is allowable under state law, and we really have essentially no control over how far it goes.” comes to the community. ‘ said DePalo.
The housing estate explained
KIG Real Estate Advisors presented their plans to build 190 units on a two-acre site during the August 23 Selectmen meeting.
KIG Real Estate Advisors founder Justin Krebs told those chosen the development would be a “premium building” marketed to families and young professionals and would include studios, one and two bedroom apartments.
The project would include a south-facing courtyard with a pool, fitness center, club area and secluded work areas.
John Samia, a member of the Board of Selectmen, expressed his support for the simultaneous negotiation of a development agreement, which would be filed at the same time.
“I think for me that would be the best step forward for a collaborative relationship and also to make sure the parties understand where we are going,” Samia said.
Developers are proposing a 40B housing project on Main Street in Shrewsbury