Affordable Apartment Project Moves Forward in Plymouth

An affordable housing project in Plymouth is taking a step forward after the city council recently approved a funding plan on the developer’s behalf.

The Melrose apartments is proposed for The Boulevard site, the large-scale redevelopment project of the former Prudential site.

Plymouth-based Roers Cos. is proposing a 212-unit building with a mix of one-, two-, three- and four-bedroom units.  The roughly 320,000-square-foot complex would be located at 5905 Sycamore Ln. N.

The project would help address a need in the city for affordable housing. All of the units would serve residents who earn up to 60 percent of area median income (AMI). The development would also include six units at 30 percent AMI.  

“This is going to create a lot of housing for people that work here,” said Plymouth City Council Member Joel Spoonheim. “It’s a great addition to support the businesses going into this area.”

At its May 26 meeting, the city council approved housing revenue bonds on the developer’s behalf to finance construction with the total amount not to exceed $20 million. There would be no impact to Plymouth’s budget, read city documents.

Repayment of the bonds would come from project revenue. The city would collect a 0.5 percentage point fee of the total amount of bonds issued to cover administrative costs.

Rendering of proposed multifamily and retail development for The Boulevard/courtesy Roers Cos. and Scannell Properties

Need for Affordable Housing

The city found that there exists a need for affordable multi-family rental housing for qualifying individuals and families, city documents showed.

The need, according to the documents, is “not being filled by private enterprise alone due to a variety of factors, including that the cost of new construction of multi-family rental units may in many cases prove economically unfeasible, given the high costs of construction and prevailing area rental levels, and that therefore appropriate levels of public assistance may be helpful and necessary in bridging that gap.”

Council member Spoonheim mentioned multiple partners, including a “generous donation” from a community member, to help fund the project.

“That is a huge part of making this go forward,” said Spoonheim.

Construction of the new apartments is expected to begin in either July or August.

The overall 75-acre redevelopment of the Prudential site includes Coborn’s Market and Table, which opened last March, as well as restaurants, medical office and other apartment units.

Related: Coborn’s Teams with David Fhima for New Plymouth Food Experience

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