$1,200,000

194 and 206 House street features a 3,800 sq ft cinderblock building on a 3.5 acre site that is in close proximity to RT2 exits and is served by city water/sewer. For 50 years the location has operated as a daycare facility. Current zoning allows for for a Daycare, Church, and School. Location is also ideal for an 830g housing, several multi family homes and other uses. Parcel abuts an apartment building, several multi family homes, and an affordable housing development. Located close to the center of town. 1. 3 Lot Subdivision (6 total units). 3 lot subdivision with 1 frontage lot and 2 rear lots No road would be required Could then apply for duplexes for each lot, which are permitted by special permit in the Res A Zone Inclusionary zoning does not apply in the Res A Zone, no affordable units are required. 2. 6 Lot Subdivision (12 total units). Construct a private (or public) road and cul-de-sac along the south side of the lot. Subdivide it into 6 (or so) lots; an engineer needs to confirm. Could then apply for duplexes for each lot, which are permitted by special permit in the Res A Zone Could be a common interest ownership community Inclusionary zoning does not apply in the Res A Zone, no affordable units are required. 3. Affordable Housing PAD (12 +/- units with 20% affordable units) Zone Change from Res A to PAD and concurrent final development plan approval Maximum density is 6 units per buildable acre. It could be an apartment building, townhomes, or condos. 20% of the units must be affordable at 80% AMI, in perpetuity