(Nov. 13, 2014) The Berlin Mayor and Council approved a pilot agreement for the new affordable housing complex, Cannery Village, on Monday, Nov. 10.
The town had eyed the development, located on Cannery Way at Flower Street, for more than a decade before finally moving towards the design phase last October.
Berlin Mayor Gee Williams praised property owner Frank Gunion for his “vision” on the project.
“He has for years been trying to find a feasible way that would be beneficial to the community to provide some affordable housing to the town,” Williams said.
Cannery includes 45 lots that will be developed into 36 four-bedroom rancher style homes, eight two-bedroom ranchers and one community center. Two bedroom homes will rent for $400-$750 and four bedroom homes rent for $500-$850 per month.
What makes Cannery unique, however, is renters have the option to rent-to-own after leasing for 15 years.
“Not everybody right out of the box … can come out and buy a home,” said Williams. “This gives people the opportunity to be a homeowner in Berlin and I think it will be an asset to the community.”
None of the homes will have steps, meaning they could be ideal for senior and retirees as well as families.
The town agreed to give Cannery a property tax break, over a 40-year period, as long as it continues the rent-to-own program.
“This has been done before throughout the state,” Town Attorney David Gaskill said.
Andrew Hanson, developer at Osprey Property Company, said the design phase was in its final stages.
“One of the big hurdles was the construction budget, and that came back just this morning,” he said. “I was concerned it might go up because of the escalating market, but, thankfully, it’s still in budget.”
Hanson said construction could begin as soon as next month “in a perfect world.”
Cannery will begin accepting inquiries as soon as construction begins, and will accept full applications three-to-four months before units are ready. Hanson said applications would have to submit a social security number, used for criminal background checks, and meet the minimum and maximum income requirements.
The town expects the Planning Commission to pass the final site approve on Wednesday.
The town had eyed the development, located on Cannery Way at Flower Street, for more than a decade before finally moving towards the design phase last October.
Berlin Mayor Gee Williams praised property owner Frank Gunion for his “vision” on the project.
“He has for years been trying to find a feasible way that would be beneficial to the community to provide some affordable housing to the town,” Williams said.
Cannery includes 45 lots that will be developed into 36 four-bedroom rancher style homes, eight two-bedroom ranchers and one community center. Two bedroom homes will rent for $400-$750 and four bedroom homes rent for $500-$850 per month.
What makes Cannery unique, however, is renters have the option to rent-to-own after leasing for 15 years.
“Not everybody right out of the box … can come out and buy a home,” said Williams. “This gives people the opportunity to be a homeowner in Berlin and I think it will be an asset to the community.”
None of the homes will have steps, meaning they could be ideal for senior and retirees as well as families.
The town agreed to give Cannery a property tax break, over a 40-year period, as long as it continues the rent-to-own program.
“This has been done before throughout the state,” Town Attorney David Gaskill said.
Andrew Hanson, developer at Osprey Property Company, said the design phase was in its final stages.
“One of the big hurdles was the construction budget, and that came back just this morning,” he said. “I was concerned it might go up because of the escalating market, but, thankfully, it’s still in budget.”
Hanson said construction could begin as soon as next month “in a perfect world.”
Cannery will begin accepting inquiries as soon as construction begins, and will accept full applications three-to-four months before units are ready. Hanson said applications would have to submit a social security number, used for criminal background checks, and meet the minimum and maximum income requirements.
The town expects the Planning Commission to pass the final site approve on Wednesday.