By Paul Raccuglia
I recently attended a kickoff meeting for the Cambridge Redevelopment Authority project at 2400 Massachusetts Ave., North Cambridge. It was a fascinating microcosm of local housing policy and how decisions get made.
I’m very excited that the CRA has chosen to develop 2400 Massachusetts Ave., an entire city block within walking distance of Davis Square.
The authority, with a board of five members – four appointed by the city manager and one by the state – is dedicated to real estate development in the public interest and has an excellent reputation for being committed to development in the interests of the community. Its goals for the property include satisfying a significant portion of its 20,000-square-foot commitment to affordable and middle-income housing.
The location was transferred to the authority because previous development partners had been unable to secure financing. This was due to two key factors: Interest rates have increased and property prices have declined in the past two years; and the previous community engagement process led to a development with a price per square foot of $1,500; typical prices per square foot for single-family homes in the neighborhood are closer to $1,000. Any successful plan will need to adapt to these market conditions. The previous plan called for 60 units; with changes to zoning laws, the height limits by law on the property are now 12 stories rather than the previous six, although the CRA was quick to clarify that it wouldn’t necessarily build to that height.
Key questions of concern to the public were around affordability, parking, access to mass transit, green space, use of retail space and the impact of construction on neighbors. The previous plan included one underground parking spot per resident, which in Cambridge costs between $100,000 and $150,000 per spot, which could be a 10 percent increase in the cost of the project. Another complaint of residents was the plan to use the lot for storing construction equipment and materials for a neighboring project. It is extremely difficult to find storage near a project in Cambridge, so moving the equipment farther away will also likely add substantial costs and reduce the affordability of the units.
As a quasigovernmental body, the CRA has meaningful latitude to help reduce the pressures of profitability for this project; it can design projects that for-profit developers cannot. Next steps will involve a request for information from developers, with plans for how they would approach the project. The next opportunity for public comment is from 6 to 7 p.m. Oct. 15, a Zoom-based kickoff to compliment the in-person one.
I encourage you to get involved; these meetings have an outsized impact on the success of these projects. The CRA staff were consistently warm and professional, and their dedication to building housing at accessible price points in the public interest is admirable.
More details about the project can be found here.
The writer is a resident of Bellis Circle in Cambridge.
