Will the proposed zoning (if passed) create significant changes to landlord economics that would impact lower income families at Dover Heights apartment complex, as well as tenants in modest sized homes along Central Street, and very affordable apartments in South Acton Village?
At Dover Heights, 72 modestly priced [naturally affordable] apartments currently exist, on close to 9 acres of buildable land.
If the proposed zonoing passes, we estimate that at the Dover Heights property, at least 100-200 market-rate [the highest price the market will bear] condos [perhaps $500K each] could be created, in the place of an apartment complex currently valued at less than $10 million.
Would $40+ million be enough to evict the current tenants to build luxury apartments?
The Town of Acton tells us that the current owner has "no plans" to do that. Is that enough assurance for these families? Would his plans change if he can make millions more to evict?
Come back soon to read more about Dover Heights
