Peabody council wants to remove affordable housing buyout option

PEABODY – Affordable housing has long been a concern for local community planners and developers with the state’s minimum requirement of 10 percent always in the backs of their minds.In Peabody, a developer has the right to opt out of building affordable housing units and instead pay the city a large amount of money, which would then be used to address housing needs. All of this is made possible by the Inclusionary Zoning Buyout ordinance.However, some City Councilors see flaws in this option and would like the statement retracted.Councilor Arthur Athas suggested removing the statement during an Industrial and Community Development meeting Tuesday night in an effort to require developers to build affordable housing units.Councilor at Large Ted Bettencourt, Jr. agreed.”There are flaws in the system,” he told the Committee. “This is worth talking about.”Director of Community Development Jean Delios noted that the city currently rests above the state requirement at 10.4 percent affordable housing. She said that a number of projects are in the pipeline, including Crowninshield, which will provide roughly 32 units of affordable housing. Over the next year, Delios expects the city to see at least another 100.”The good news is that the market has slowed down,” she said, meaning that she doesn’t expect the overall number of units to grow much, keeping the city’s affordable housing rate level.Councilor Bob Driscoll said that the purpose of offering the buyout option seemed like a good idea at the time when Peabody’s population was moving away.”The idea was to entice development,” he said. “Idealistically, it sounded terrific, but realistically, perhaps it didn’t work.”Last year, the developers of the Fairfield Apartments on Dearborn Road opted to pay nearly $1 million in lieu of building affordable housing units. Many others have attempted to do the same.The Committee voted last night to send their recommendation to the Planning Board for review, as it would be a zoning change. If they approve, it will go back to the City Council for a public hearing, and eventually, a vote.