06 / 29 / 2017
  - 11:33:43 AM
Franklin's Subsidized Housing Inventory Released
  

By MyFM's Rick Michaels - The Town of Franklin has released its latest Subsidized Housing Inventory (SHI), which reveals the percentage of its housing stock, considered to be affordable by the state, is now at almost 12-percent.  Franklin Town Administrator Jeffrey Nutting says as long as that percentage doesn’t drop below ten-percent the town will not be susceptible to, what is called, Chapter 40B affordable housing developments.  This State program allows developers to override local zoning bylaws in order to increase the stock of affordable housing in communities where less than ten-percent of the housing stock is defined as affordable.  Nutting says the 288 apartments at Glen Meadow, recently purchased by a new investor who obtained some state funding and completed some updates to the property, means they’ve  been added back onto the S-H-I list and now Franklin’s affordable housing number is at 11-point-89 percent.

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