Rice Pond Village Proposed Unit Composition
The application for the proposed Rice Pond Village project, submitted under Chapter 40B Local Initiative Program (LIP), encompasses a variety of unit types, each with its estimated gross financial income. However, despite concerns about potential public safety issues that the project might pose to the surrounding neighborhood and the broader community, developers Steven F. Venincasa and James Venincasa have opted to disregard these concerns.
The Rice Pond Village project proposal includes three apartment buildings, each ostensibly four stories tall but effectively measuring more than five stories in height. This exceeds the maximum building height of 30 feet permitted in a Suburban II (S2) Zoning District. The complex, comprising 192 apartments, offers a mix of 1-, 2-, and 3-bedroom units ranging from 956± to 1,727± square feet. Among these units, 144 are designated as market rate units, while 48 are intended to be affordable units.
However, it's essential to note that the Millbury Zoning Bylaws prohibit multi-family dwelling units in this area, primarily because Rice Road does not qualify as a "major street." This determination is based on the road's pavement width, which falls short of the required minimum of 22 feet, and its right-of-way, which measures only 40 feet. The requirements specify that the number of dwelling units necessitates a minimum pavement width of 32 feet, a 3-foot grass strip, and at least one 5-foot sidewalk within a 60-foot right-of-way.
| Unit Type | Market Rate | Affordable | Beds | Baths | Sq Ft |
|---|---|---|---|---|---|
| A | 76 | 26 | 1 | 1 | 956 |
| B-2 | 13 | 5 | 2 | 2 | 1,296 |
| C-2 | 18 | 6 | 2 | 2 | 1,308 |
| D-2 | 6 | 0 | 2 | 2 | 1,285 |
| E-2 | 13 | 5 | 2 | 2 | 1,472 |
| F-3 | 18 | 6 | 3 | 2 | 1,727 |
| Total | 144 | 48 |
The developers established the maximum allowable “affordable” rent by taking into account the following criteria: annual incomes between $70,750 and $88,400, resulting in a maximum rent equal to 30% of monthly income. Certain Millbury residents have expressed concerns about the affordability of these rental prices and are anxious that their landlords might raise rents to compete with large corporate-owned apartment complexes. Homeowners have drawn similar comparisons, noting that mortgage payments are often lower than these rental rates. There are individuals who contemplate whether these corporate-owned apartment complexes play a role in gentrification, potentially displacing long-time residents from their homes.
For additional insights into the issue of affordability and the shortcomings of Chapter 40B in addressing affordable housing across Massachusetts, please consult Chapter 40B Is Falling To Provide Affordable Housing.
| Bedrooms | Household Size | 80% Median Income | Monthly Income | Max Rent | Utility Allowance | Final Rent |
|---|---|---|---|---|---|---|
| 1 | 2 | $70,750 | $5,895 | $1,768 | $204 | $1,564 |
| 2 | 3 | $79,600 | $6,633 | $1,989 | $294 | $1,695 |
| 3 | 4 | $88,400 | $7,366 | $2,209 | $372 | $1,837 |
The affordable rental units currently available are priced at 54% to 64% of the prevailing market rental rates. It is crucial to emphasize that these accommodations are not specifically designated for individuals with low-income. Furthermore, it is worth noting that a consortium of developers, operating under various limited liability corporate entities, holds multiple rental properties within Millbury. This substantial market presence raises concerns about potential monopolistic practices that could grant these developers undue influence over the residential rental market in Millbury and its neighboring areas, potentially tilting the market dynamics in their favor.
| Unit Type | Market Rate Rent | Affordable Rent | % Market Rate |
|---|---|---|---|
| A | $2,500 | $1,564 | 63% |
| B-2 | $2,800 | $1,785 | 64% |
| C-2 | $2,793 | $1,695 | 61% |
| D-2 | $2,950 | — | — |
| E-2 | $3,100 | $1,695 | 55% |
| F-3 | $3,400 | $1,837 | 54% |
If the Rice Pond Village project is approved and completed, developers Steven F. Venincasa and James Venincasa could potentially generate an annual gross rental income of $5,701,560 from the apartment rentals alone, exclusive of any income derived from garage rentals. However, despite the possibility of heightened public safety issues due to the construction of this poorly conceived project in an unsuitable location, as well as the deficiencies in Rice Road from end to end, the Providence & Worcester Railroad crossing, and the intersections at both ends of Rice Road intersecting with South Main Street and Providence Street (Route 122A), Steven F. Venincasa and James Venincasa remain unwilling to participate in any efforts to address and alleviate these concerns.
| Unit Type | Market Rate | Affordable | Monthly Gross |
|---|---|---|---|
| A | $190,000 | $40,664 | $230,664 |
| B-2 | $36,400 | $8,925 | $45,325 |
| C-2 | $50,274 | $10,170 | $60,444 |
| D-2 | $17,700 | — | $17,700 |
| E-2 | $40,300 | $8,475 | $48,775 |
| F-3 | $61,200 | $11,022 | $72,222 |
| Monthly Gross | $395,874 | $79,256 | $475,130 |
| Annual Gross | $4,750,488 | $951,072 | $5,701,560 |
One could make a compelling argument that the proposed Rice Pond Village project under Chapter 40B LIP may not align with the best interests of the town of Millbury and does not necessarily serve the broader public good. This revised rendition of the project is perceived by some as a form of retaliation by developers Steven F. Venincasa and James Venincasa. This perception is grounded in the prior denial of their request to build 46 condominiums on the same site, a decision rendered by the Millbury Planning Board on February 14, 2022. Furthermore, Steven F. Venincasa's statements during public hearings, particularly when the Millbury Planning Board directly questioned whether he was making threats toward the Board and the neighborhood, have contributed to this perception. The denial was primarily rooted in their failure to adequately address legitimate public safety concerns and their non-compliance with the Millbury Zoning Bylaws and Subdivision Rules and Regulations.
Project Eligibility Letter Details
The Executive Office of Housing and Livable Communities (EOHLC) Project Eligibility Letter for Rice Pond Village includes an attachment that reads, "This project will provide rental opportunities as specified below:", thereby revising the maximum rent downward from the aforementioned initial LIP application submission, for certain unit configurations, as follows:
| Type Of Unit | Units | Beds | Baths | Gross Sq Ft | Utility Allowance | Maximum Rent |
|---|---|---|---|---|---|---|
| LIP Units | 26 | 1 | 1 | 956 | $204 | $1,564 |
| 16 | 2 | 2 | 1,358 | $294 | $1,725 | |
| 6 | 3 | 2 | 1,727 | $372 | $1,837 | |
| Market Rate | 76 | 1 | 1 | 956 | $2,500 | |
| 50 | 2 | 2 | 1,340 | $2,910 | ||
| 18 | 3 | 2 | 1,727 | $3,400 | ||
| Total Units | 192 |
Kindly take note that this updated information will consequently impact the computed gross revenue for units as detailed in the developer's initial LIP application submission.
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