350-unit complex a no-go

Plans for a 350-unit apartment complex in West Concord, a project that would have put the town over a state-mandated requirement for affordable housing, have fallen through, town officials said, after the developer, Trammell Crow Residential, could not obtain financing.

“It’s unfortunate,’’ said Stanly Black, chairman of the Board of Selectmen. “It was going to be an asset to Concord to have that many new units of housing. We’re now vulnerable to 40B developments, which is a pretty scary proposition.’’

Under a state law known as Chapter 40B, developers can bypass certain zoning regulations in a community with less than 10 percent of its housing stock considered to be affordable. That means communities below the threshold have little say over the size or location of developments that include affordable housing units.

Concord needs 300 units to meet the state threshold, so town officials supported the Trammell Crow project and approved the Chapter 40B comprehensive permit last November. The town was allowed to count the unbuilt units toward its affordable housing stock as long as the developer obtained a building permit within a year, said Town Planner Marcia Rasmussen.

But Trammell Crow was unable to get financing for the project in time and the land owner, FTN Limited Partnerships, declined to extend its purchase and sales agreement, Rasmussen said.

“Since no building permit will be issued by Nov. 8, those numbers will come off our inventory and we’ll no longer be at 11 percent,’’ Rasmussen said last week.

Trammell Crow representatives were not available for comment on their plans.

But not everyone is disappointed the project fell through. Paulina Knibbe, the chairwoman of Acton’s Board of Selectmen, said officials in her town are relieved that it’s not moving forward any time soon. The location of the project in West Concord, near the Acton and Sudbury line, would have sent all of the development’s traffic through Acton.

Despite her relief, Knibbe said, Trammell Crow’s failure to get financing is not a good sign for the region.

“It’s another indication that the economy is bad and in that sense, I can’t be happy,’’ she said. “But if any project was going to stall, this is a good one.’’

Rasmussen said there is some hope that the 350-unit project will still get done, but by a different developer. She said the land’s owners plan to market the property with the comprehensive permit, which is still valid for another year.

She also said there is a possibility that other, smaller projects will come in before the 350-unit development and all would move forward.

“Managing all that might be a little challenging,’’ she said.

Rasmussen said there are several potential 40B projects in the works but none have filed permit applications.

“We have a lot of land out there,’’ she said. “It’s all different sizes, though none as large as the 350 units.’’

One of the reasons Concord officials liked the Trammell Crow project was because it would have helped the town meet its 10 percent in one fell swoop. Rasmussen said it could take a long time and several projects to come up with the 300 units the town needs.

Still, given the tight financial market, Rasmussen doesn’t expect to be inundated with projects. Developers must seek state eligibility for Chapter 40B projects, and Rasmussen said she is not aware of any projects in the works.

“I’m not expecting a mad dash,’’ she said. “It’s highly unlikely we’ll see anything in the near future.’’

One potential project in the works is a 100-unit apartment complex in West Concord Village.

Developer Ross Hamlin said his preliminary plans call for building one- and two-bedroom units on land between Bradford and Maple streets.

Hamlin said now that the Trammell Crow project has fallen through, he’ll likely go through the 40B process. He said his project doesn’t need a zoning change, so the only benefit of going through 40B is that the town will get credit for all units, even though just 20 percent would be set aside as affordable.

Hamlin said his biggest obstacle is the town’s waste-water capacity, which isn’t able to accommodate his project. But he may also face some local opposition.

Dan Holin, chairman of the West Concord Task Force, a group of residents and business owners concerned about the future of the village, said members are worried that the failure of the Trammel Crow project will open the door to other 40Bs.

He said they have concerns about the size and location of Hamlin’s project, and want the character of the village to remain unchanged. That means locally owned businesses, he said, and projects that don’t overwhelm the village.

“The demise of the Trammell Crow project gives Ross Hamlin and others the right to exercise the remaining 40B quota,’’ Holin said. “Where once Concord thought it would put this type of development in a place less central, now it looks like this apartment building could be in the heart of the village.’’

Hamlin said he’s met with members of the task force and is eager to take their comments into consideration.

He said his project would be in line with what residents are looking for, with buildings of “reasonable size and reasonable height that complements the area.’’

Jennifer Fenn Lefferts can be reached at jflefferts@yahoo.com.