SWAMPSCOTT — The Westcott Apartment, which will feature 114 rental units at 125 Essex St., is now accepting applications for residency, according to Building Commissioner Richard Baldacci.
Baldacci sat down to speak with The Daily Item on the status of the development.
“When a new building is commissioned, it goes through fire safety tests, they do smoke detector tests, alarm tests … and the alarm system is supposed to call out to a third-party and directly to the Fire Department, so they can respond instantly,” Baldacci explained. “Everything from elevator certification from the state to sprinkler system activation, to make sure it holds water, has been tested.”
The apartments themselves present a clean, modern aesthetic, with wide-plank flooring, large open windows to catch as much sunlight as possible, and a coastal-inspired color palette, according to the Westcott’s website.
Amenities for the apartment complex include a fitness center with “state of the art cardio and interactive fitness,” as well as a roof deck with a grill and outdoor seating, and a pet spa. The complex is a three-minute walk to the MBTA commuter rail.
Baldacci continued, explaining the intricacies that come with attempting to create more low-income housing.
“I just found out today that there’s reimbursement from the state as you approach the number of required percentages of low-income housing … but the trouble I see is that, as you make more buildings and more dwelling units, that percentage is going to grow equally,” he said. “So, I don’t know how you ever get 10% of more housing, if you build more housing.
“It’s a multi-million dollar building, so my guess is that the tax new growth would be commensurate with that,” Baldacci elaborated. “So, my guess is that going from an old lumber yard and storage area to a 114-unit building, I think that definitely adds value to the tax revenue.”
The Westcott features 16 affordable apartments for households earning up to 30% of the Area Median Income (AMI), 62 apartments for households earning up to 60% of the AMI, 16 middle-income or workforce housing apartments for those who earn up to 110% of the AMI, and 20 units available at market rates, according to the developer WinnCompanies’ website.
The Market Rate for a one bedroom starts at $2,480; for a two bedroom, the starting price is $3,360, and a three bedroom has a starting price of $4,635. For Workforce Rents, a one bedroom starts at $2,185, and a two bedroom starts at $2,970. For 60% Low Income Housing Tax Credit rents, a studio starts at $1,626; a one bedroom starts at $1,737; a two bedroom starts at $2,056; a three bedroom starts at $2,399.
To inquire about availability, the number for The Westcott provided on their website is 781-739-2808.
Baldacci added “the main driver” behind the project is to help increase housing options in the area.
“It’s a great excitement to have it completed, even though it’s been a lot of work,” Interim Town Administrator Gino Cresta said. “The developer did quality work, and worked with the town the whole way through. … I think it will be a great asset to the town.”
Select Board member Danielle Leonard echoed Cresta’s point. “The Westcott project will give the town more housing options, which is always a good thing,” Leonard said.
