An affordable housing project got a boost from the Watertown Community Preservation Committee, which voted to recommend that Community Preservation Act money be used to help fund the project in East Watertown.
CPA funds come from a surcharge on Watertown property tax bills, and the money can be used for historic preservation, open space and outdoor recreation, and affordable housing projects.
See details in the announcement from the CPC, below.
At a special meeting on Dec. 9, 2024, the Community Preservation Committee unanimously voted to recommend $4 million in CPA funds for the redevelopment of Willow Park, owned by the Watertown Housing Authority. The applicant team of Preservation of Affordable Housing and the Watertown Housing Authority requested $4 million for the project.
According to Mark Kraczkiewicz, CPC Chair, “This award will represent by far the largest commitment of Watertown’s CPA funds to any single project and signifies the importance the Watertown community attaches to meeting the needs for affordable housing and the contribution of this project to meeting that goal.”
During the development of the CPA 5-year Plan 2021-2025, and in subsequent community surveys, Watertown community members who participated overwhelmingly prioritized the creation of affordable housing along with the acquisition and preservation of open space. If the project team is successful in obtaining the layers of state and federal financing needed to implement the project, they aim to rebuild the existing 60 apartments and add another 78 units to the Willow Park development.
These apartments will range from deeply affordable public housing units to those restricted to less than 80 percent of Area Median Income, which is $130,250 for a family of four. There will be a mix of studio, one-bedroom, two-bedroom and three-bedroom and American with Disabilities Act (ADA) compliant units with more than 65 percent having two or three bedrooms. For more details about the project, read the application.
The total estimated cost of the project, which features a community room, learning center, indoor bike rooms, and a sustainable, energy efficient building focus, is just over $107.5 million. Of that, the Watertown Affordable Housing Trust committed $400,000 to the predevelopment costs associated with the project.
In addition to the Willow Park Redevelopment application, the CPC expects another from the Watertown Housing Authority (WHA) for construction of a 5-bedroom group home for individuals with special needs. The WHA plans to submit their application in the winter of 2025.
This project will be 100 percent affordable and add to much needed housing for adults with developmental disabilities in the Boston Metro area. Plans include a fully accessible first-floor with four bedrooms and a second-floor bedroom with office space for staff. To boost the project, the CPC recommended funding, and the City Council approved $175,000 in CPA funds for predevelopment costs in the spring of 2023.