Habitat for Humanity to work in Peabody

PEABODY-The internationally known nonprofit housing organization Habitat for Humanity is hoping to bring its volunteer-based services to Peabody for the first time with the purchase of three vacant downtown properties.The organization submitted a letter of interest to the Community Development office two weeks ago, expressing its desire to turn the dilapidated and abandoned buildings of 5, 12, and 14 Park St. into 8 completely redesigned affordable housing units.In its proposal, the organization describe creating two units in both properties #5 and #12 and an additional four townhouse-style units at the site of property #14. Habitat claims that all units would be home ownership houses for families earning 40 percent of the mean income.Additionally, one of the townhouse units will be designed for handicap accessibility. Both 5 and 12 Park St. will be restored historically and rehabbed to energy star standards. The building at 14 Park St. will be demolished completely, as it is too far gone.The properties have been an eyesore and a haven for crime for the past two years after experiencing foreclosure.Community Development Director Jean Delios said that the goal of Community Development is to “provide a lifeline to these properties so they can be brought back into productive use.” The idea of Habitat for Humanity stepping in to do the dirty work sounds appealing to Delios, but it would cost the city $500,000.Donald Preston, president of Habitat for Humanity North Shore, wrote in his letter requesting funding from the city?s Inclusionary Zoning Buyout Fund to help defray the cost of the project.?We estimate the cost of this project to be $1.5 million, including acquisition,” he said. Preston hopes to receive the $500,000 from Peabody to put towards the purchase of the land and the remaining $1 million through other sources.City Councilors expressed some reservations toward the idea of essentially giving away such a large amount of money without the possibility of repayment. Ideally, the IZ Buyout Funds are to be used as an investment or loan for projects that would create affordable housing under the city ownership. That money would then be repaid to the city and reused for other projects.?This seems like we?d be putting all our money into one basket,” said Ted Bettencourt, Jr. “This is quite a bit to carry for the city.”Councilors James Liacos and Anne Manning found the idea to be quite the bargain.?I think it?s a good deal,” said Liacos. “$500,000 for eight units isn?t bad.”?This is something that we should further explore,” said Manning. “This could be a boom in that area.”Delios said that the added benefits of having a group such as Habitat come in include stabilization of the neighborhood, adding inventory to the city?s affordable housing status, and most importantly, putting people into home ownership who might not otherwise have the chance.All Councilors agreed, however, to get a legal opinion on the Request For Proposal process, as they might need to officially open it back up, and to look into the project further.