New Princeton Properties Complex on Littleton Road Gets $25 Million Loan

The upcoming affordable housing complex on Littleton Road was the subject of a $25 million construction loan last week.

Pittsburgh-based HFF arranged the deal with Princeton Properties & Guggenheim Real Estate LLC. To secure a three-year, floating-rate construction loan with two one-year extension options through First Niagara Bank’s Boston office.

The 200-unit development, expected to be completed later this year, is just down the street from another affordable housing project coming to Chelmsford, with groundbreaking beginning at that project later this summer. 

Prometheus January 28, 2014 at 02:52 PM
Agreed. Would you say it is akin to an illegal with voting rights, or perhaps a voter who pays no taxes? No taxation without representation AND no representation without taxation!
Sam January 28, 2014 at 02:57 PM
Amber: Well it seems to me these same "beautiful people" don't want new developments in town either. Especially near their beautiful homes. All towns are not going to be places of equality. That is not going to happen. Like it or not, there is a reason our town's schools and general way of life are sought after and it's not because there is an abundance of affordable houses or apartments. As we approach what this program is designed to do we erode what we have. That is simple fact. No offense meant here either. I liken this to the straw hats in town that love to run their businesses in the center of town causing all sorts of traffic tie ups then freak out when talk of a rotary of traffic light comes up. Alas as time passes promises are made and broken (ie. "The Gateway to Westford") etc. Just another simple fact. The 40B at the new and revised gateway now has a beautiful stockade fence surrounding it. What do you suppose was the original design for the screening was? It was beautiful plantings, tress and shrubs. This got changed in the developers favor under such foolishness as saving water to keep these areas growing etc. Who do you suppose made out there? Who do you supposed pushed for the developer to be able to do this? Dig deep. The whole thing is a mess. Here I agree with most and just wish the state would leave the towns alone and let us decide what we do and not do. I am not looking to shut everyone out of town, that is just not right but this model is for the birds. The same goes for our Town Meeting model and much more. Just my opinion.
Steven Sadowski January 28, 2014 at 03:35 PM
I've said a trillion times, the more politicians we send to Beacon Hill who believe in a top-down approach to management, the more top-down mandates you will receive from the state. There is very little that we actually control. I swear to god, if it isn't Common Core and state mandates on education, it's 40b, highway/utility/infrastructure funding, this and that funding, mandates for this regulations for that, and now we're a "Green Community" who wants to bet there are no strings attached on that? We're slowly "evolving" into an Empire. 10 Amendment? What 10th Amendment?
Cori Ryan January 28, 2014 at 09:19 PM
If anyone is interested in learning more about affordable housing at a more granular level and is interested in participating in local government, there is a 3 year term for the Westford Housing Authority that is available and currently has not candidate running for that term. If you want to learn about running for local office, the LWV has a program Wednesday night at the library on how to run for office and there will be a panel of citizens who have served for a Q&A session: http://www.westford.com/lwv/?p=976
Amber February 05, 2014 at 12:47 AM
Sam, I don't disagree with you. Just stating the prevailing center-of-town attitude. Some people like the atmosphere. I like my kids being in a school district where there is more socio-economic diversity. Less entitlement issues then they'd be subject to in sought-after overpriced suburbia. ;) It IS possible to be a renter or of less-than-affluent banking and car status and still be a good, law-abiding, non-deadbeat person. And plenty of affluent suburbanites are criminals and druggies and deadbeats. Of course everyone is free to be what they want to be, but I don't think money or zip code is an indicator of character. The whole rich elitist snob NIMBY thing isn't for me, but that doesn't mean I think the state should wrest zoning control from the town, unless the town's planning officials are being discriminatory. Unfortunately, the loss of that regulation also has very real impact on the diversity the town offers. :)


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