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The Impact Of Corporate Dominance On The Rental Market
The growing trend of corporate dominance in the rental housing market is causing concern among tenant advocates, local officials, and community members alike. When a single corporate entity controls a significant portion of the rental properties in a town or city, it can have far-reaching effects on housing affordability, community stability, and tenant well-being. The recent situation in San Diego, involving investment giant Blackstone Inc., serves as a stark example of these dynamics at play.
The Myth of Housing Supply and Demand: A Modern Trickle-Down Fallacy
In contemporary debates about affordable housing, a common argument suggests that increasing the overall supply of housing will naturally lead to more affordable homes for everyone. Proponents claim that by simply building more units, market forces will drive down prices, benefiting even those at the lower end of the income spectrum. This argument parallels the principles of trickle-down economics, which posits that benefits provided to the wealthy will eventually “trickle down” to the less fortunate, improving economic conditions for all. However, just as trickle-down economics has been widely criticized and debunked, the simplistic notion that increasing housing supply alone will solve affordability issues is fundamentally flawed.
Next Up: Exploiting The MBTA Communities Act
In recent years, developers have increasingly exploited Chapter 40B, using it as a tool to bypass local zoning bylaws and pursue projects that maximize their bottom line. Now, many see the MBTA Communities Act (M.G.L. c. 40A §3A) as a similar opportunity for developers. While the MBTA Communities Act does not override all local zoning regulations, it provides a pathway for developers to circumvent certain restrictions, leading to much denser developments than local communities may desire. This approach allows developers to push projects forward with fewer obstacles, aligning with their financial interests but often at odds with community preferences and established zoning norms.
Decision Time For Rice Pond Village 2.0
The Millbury Board of Appeals concluded the public hearing for the proposed Chapter 40B Rice Pond Village project on Wednesday, July 24, 2024, after many months of public discussions. Throughout this period, neighbors and residents from across the town voiced their concerns and shared insights about the project. The consensus among the community is that the proposed development is unsuitable for Rice Road due to various public safety concerns and its inconsistency with the neighborhood’s context in terms of density, height, and massing.
Chapter 40B Public Hearing - July 24, 2024
The upcoming public hearing for the proposed Chapter 40B Rice Pond Village project will be hosted by the Millbury Board of Appeals. It is scheduled for Wednesday, July 24, 2024, starting at 7:00 PM. The venue for this event will be at the Millbury Senior Center, situated at 1 River Street in Millbury, Massachusetts. Attending in person is encouraged for maximum participation.
Don’t Boston My Millbury
Save the date for Monday, July 8, 2024, at 7:00 PM, when the Millbury Planning Board will hold a public hearing at Millbury Town Hall, 127 Elm Street, to discuss amending local zoning to comply with the MBTA Communities Act. The proposal aims to increase maximum density for multifamily units from 4 to 15 units per acre in the downtown Business 1 zoning district, affecting approximately 50 acres. Residents are concerned about potential rent increases and displacement, especially among vulnerable populations.
State funding incentives hinge on compliance, but critics argue the act may favor developers over community interests and lacks provisions for affordable housing. The push for high-density development raises tax and infrastructure concerns for Millbury, which could alter its small-town character. Residents are urged to voice their concerns at the hearing to protect local sovereignty and influence zoning decisions.