An affordable housing organization in Massachusetts is celebrating a milestone in Ludlow – breaking ground for a 43-unit multifamily housing development almost a decade in the making.
Frames, beams and walls have been going up at the site of “Greenstead Grove” off Fuller Street as the project overseen by Way Finders makes steady progress.
Way Finders leadership, lawmakers and other state officials journeyed onto the five-acre property at Friday’s ceremony.
When all is said and done, the development will feature seven two-story townhomes, providing what the group says will be 43 “affordable 1-, 2-, and 3-bedroom apartments.”
Way Finders CEO and President Keith Fairey says the $24.5 million project is an investment in more ways than one – especially as the Pioneer Valley experiences a housing supply gap that’s been approaching 19,000 units.
“It's an investment – it’s an investment in home and creating homes for people in the community - people that need affordable homes, people that need homes close to where they work, people that need homes that help them [and] their families thrive,” he said.
According to his organization, 16 apartments are intended for households earning 30 percent or less of the area median income, with the remaining 27 reserved for households earning 60 percent or less.
The median household income for Ludlow, per data from the United States Census Bureau, is around $76,000.
Way Finders Board Chair Jasmine Naylor says the housing, which should be finished by early 2025, according to Dietz and Co. Architects, will be coming online as the region continues to see a surge in rent pricing.
“I remember in 2007, when a two-bedroom costed $750 to rent. Have you checked lately what the rents are?” Naylor said. “15- 16-, $1,700 in the greater Springfield area - $1,800 I've even seen, for a two bedroom - no utilities included. But yet, we get to look at a development like this, that has all of these amazing amenities and features that's creating home for all of our constituents in the community.”
The work is also coming along as state lawmakers plug away at a massive housing bond bill – with both the House and Senate agreeing on their own version of what Governor Maura Healey introduced as the “Affordable Homes Act” last year.
The Senate passed its own version, $5.4 billion version the night before the groundbreaking.
Among those who passed it Thursday was State Senator Jake Oliveria of Ludlow, who says he grew up just down the street from the Greenstead Grove project. His office says the bill includes “$150 million in dedicated funds to address the unique housing needs of rural towns, seasonal communities, and mid-sized communities.”
It also includes at least $800 million for what’s known as the Affordable Housing Trust Fund – intended to create and preserve housing for households “with an income at or below 110 percent of area median income.”
“In order to afford the median rent, you need to earn 130% above median family income - that is pricing people out of the market,” the senator said. “And I think it's important to take stock that the people who reside in affordable housing are our family members, they're our neighbors, they're our friends, they're our veterans, they are disabled folks - they are folks that are struggling, a lot of times, to afford these extraordinary housing costs.”
In addition to sporting a community building, the project will also feature solar panels on multiple structures, which Way Finders says will offset around half of Greenstead Grove’s electricity usage.
Getting the final greenlight on the project was not an easy task. As some Way Finders officials mentioned, the project technically dates back to 2015, when the organization acquired the land.
The project ran into some local resistance in the years that followed, as well as a lengthy permit process battle with the town's Zoning Board of Appeals that ended up involving the state's Housing Appeals Committee.
Speaking to that Friday was Representative Aaron Saunders of Belchertown, whose 7th Hampden district includes Ludlow, where he also grew up near the site of the project.
He was also a member of Ludlow’s Board of Selectman as the project came about, and gave a shoutout of the former CEO of Way Finders who persisted in getting Greenstead off the ground.
“I'd be remiss not to mention Peter Gagliardi, who could have walked away when things got nasty, when some loud voices tried to stop what, I believe, is best about this community,” Saunders said. “Ludlow has welcomed people for centuries. Waves of immigrants have called this community their home. [Oliveira] mentioned his family came to Ludlow to work in the mills. My family came a little bit later and moved here at a time where buying a two-bedroom ranch was affordable.”
