Peabody council grants developer Endicott St. land

PEABODY – It’s been a long, bumpy road, but McNiff Builders, Inc. was finally approved by City Council last week to be the rightful developers of 70 Endicott St.The former site of the school administration building has been vacant for more than two years, leaving it to be what many consider an eye sore and a haven for youthful misconduct.But now with the permission of the council, the site will soon serve as the location of four single-family homes in a condominium-style layout. Owners of the units would share the same lot, pay minimal condo fees, and adhere to condo association rules, but also have exclusive rights to certain pieces of the property.”I like that you have four, freestanding units,” said Councilor James Liacos, who sees the development as the best option to match the existing neighborhood. “I think it’ll be good?I’m not into condos.”Others, however, were not so supportive of the decisions.Community Development Director Jean Delios feared that McNiff’s absence in past meetings showed a lack of commitment. What really troubled her, however, was their funding source.”(The city) was told it’d be financed in cash,” said Delios, adding that now McNiff plans to go through a bank. “Financing can be a lynchpin.”Delios also told the Council she’s hesitant because neither unit designs nor plans for landscaping have been submitted to the city, and neither have any references or cost updates.”We don’t have much to go on,” she said.The declining housing market was also a major concern for Delios.”This is the most depressed housing market since the Great Depression,” she said. “How are they going to sell these houses in a timely fashion and not leave us with a hole in the ground?”Councilor Anne Manning felt pressured into accepting McNiff Builders, Inc. by default because other requests for proposals hadn’t worked out.”I think McNiff is sort of the last man standing,” she said, adding that she’d rather open it up to bid and review more options. “If McNiff is the one, then so be it.”The Council eventually approved their request, but not after attaching a deadline to require the start of demolition within 18 months. If McNiff doesn’t comply, the land would fall back into the hands of the city.”We’ve got something the neighbors like?and the city likes,” said Councilor Barry Osborne. “It’s worth a shot?There are many ways to prevent a hole in the ground.”The city could have sold the lot for $440,000 to a developer who had plans for a 32-unit high-density structure, but they previously voted against it. The city will receive $202,062 from McNiff, the price for low-density.