VILLAGE OVERVIEW

What is the mix of homes in the Village?
The Village is being designed to appeal to a variety of residents. There will be 52 higher end town homes and moderately priced condominiums catering to empty nesters, recent retirees, and young professionals. In addition, there will be 30 age-restricted condominiums that will be flats over parking as well as 68 rental apartments.

What types of retailers will be located in the Village?
The Village will most likely be anchored by a village grocer, and will include small retail spaces, a full service restaurant, coffee shop, and pharmacy. The small retail spaces could include convenience retailers to service the community. Lastly, there will be almost 50,000 square feet of office space.

How much will the condominium homes cost?
The 52 condominiums will range in price from $400,000 to $700,000 and the 30 age restricted homes will range from $350,000 to $450,000. 8 of the age restricted homes will be affordable and be offered for approximately $150,000. It is important to note that these are general estimates and actual pricing could differ once the Village is completed.

How much will the rental apartment homes cost?
The rental apartments will rent for approximately $1,100 - $1,900 depending on the size of the apartment. 17 of the rental apartments will be affordable and rent for approximately $750 - $1,000. Final rents may vary.

What is "affordable housing", who will be living in the affordable homes and how much does a resident need to earn to live in an affordable home?
In Newbury, a single person household can make up to $30,000 and a two person household can make up to $34,000 to qualify for an affordable apartment. These income requirements exceed some Town employee salaries. Affordable housing is often occupied by retirees, young teachers, and public sector employees.

Will Newbury residents have preference for the affordable homes?
Yes. Newbury residents will have preference over 70% of the affordable homes; therefore, out of the 17 affordable apartments Newbury residents will have preference for 12 of the apartments, and of the 8 age restricted affordable condominiums Newbury residents will have preference for 6 of the homes.

Will the homes be designed to appeal to elders?
As described above, 30 condominiums will be age restricted, 8 of which will be designated affordable. These condominiums will be designed with covered, in-building parking on the first floor and elevator service from the parking area to each floor in the building. The homes will be designed as flats enabling elders to have all of their living space on one floor. Universal design features will be incorporated into the design to ensure full access to all persons with disabilities.

How much parking will there be in the Village?
There will be approximately 900 parking spaces in the Village; however, it is anticipated that approximately 100 of the spaces will be beneath residential buildings or contained in attached garages. The condominiums will have 1.7 parking spaces per home, the age restricted condominiums and rental apartments will have 1.5 parking spaces per home, the retail will have 4 spaces per 1,000 sf, and the office will have 3 spaces per 1,000 sf. There will also be some shared parking and compact spaces to reduce the number of required parking spaces and reduce the amount of impervious surface.

What public amenities will be incorporated into the Village?
There will be a number of public amenities in the Village including a Village green that could host events such as big band concerts in the summer, activities for Newbury children, etc. In addition, the developer has committed to constructing a 5,000 square foot senior center on the first floor of one of the office buildings that will be provided to the Town of Newbury free of charge. Also, the developer hopes to be able to partner with local organizations, the Commonwealth, and the Town to construct passive walking trails along the Little River and along the existing utility lines that connect to the MBTA commuter rail station.

What resident amenities will be included in the Village?
In addition to the retail amenities and public amenities described above, the Village will include a resident clubhouse that will contain a fitness center, lounge with large screen TV, pool, conference room, and business center.

Who will manage the Village after it is completed?
The apartment homes will be managed by Beacon Residential Management, a management company that is an affiliate of the developer. Beacon Residential Management currently manages over 9,000 units of housing on the east coast. The developer's company philosophy is to develop a property and then own and manage it for years afterwards. The developer is committed to staying in the community for the long term and does not intend to sell the rental apartments to the secondary markets. The condominiums will initially be managed by Beacon Residential Management. Once control is turned over to the condominium associations, each association can choose any management company they elect. The retail and office components will be managed by Coastal Property Management who is an affiliate of the developer. Coastal Management currently manages retail properties throughout New England.

Will I get to vote on whether the Village should be built?
The zoning overlay districts will require Town meeting approval, most likely in spring 2008. All eligible Newbury residents can participate and vote on the proposed zoning at Town meeting.

If Town Meeting approves the Village, what other approvals are needed?
Town meeting is the first step toward project approval, but after Town meeting a number of local boards and state departments will review the project in detail. In addition to Town meeting approvals, review and final approvals from all of the following state and local authorities will be required: the Massachusetts Environmental Policy Act office, Massachusetts Department of Environmental Protection, Mass Highway, Newbury Conservation Commission, Newbury Planning Board design review, state financing approvals, Massachusetts Water Resources Authority, National Pollutant Discharge Elimination System office, and Newbury building department plan review and building permit issuance. The Village will also require an intermunicipal utility agreement which must be ratified by both the City of Newburyport and the Town of Newbury to provide water and sewer to the Village.