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Randolph Ave. 40B wins financing approval

| June 5, 2014

By Laura Griffin/ Times Staff

MILTON, MA. – Developers won a round this week as their plans to construct a 72-unit three-building apartment complex on Randolph Avenue under the state’s Chapter 40B statute as financing have been approved by the Massachusetts Housing Finance Agency.

Town Administrator Annemarie Fagan informed Selectmen June 3 that MHFA notified town officials by letter earlier that day of their favorable decision. The letter was not available at the Times deadline but Fagan and Selectmen said the agency has recommended, but not required, 11 improvements to the plan.

Selectmen and area residents oppose the project planned by Holland Companies, LLC, under the state’s Chapter 40B. That statute allows developers to bypass zoning restrictions such as those on Randolph Avenue provided the project increases the town’s affordable housing stock.

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