Chatham’s Affordable Housing Trust Fund Board of Trustees voted unanimously on Tuesday, May 10, 2022 to purchase a parcel of land on Meetinghouse Road in South Chatham from the Diocese of Fall River for $525,000 for the purpose of building Affordable Housing. The property is approximately 5.25 acres, with approximately 3.5 acres of buildable area and includes an easement for the Old Colony Rail Trail.
The action is the culmination of months of discussions between Diocese and Town representatives initiated on February 2, 2022 when the Diocese offered the land to the Town in response to a Request for Proposals (RFP) for land for affordable and/or attainable housing.
The Affordable Housing Trust Fund Board of Trustees authorized Town Manager Jill R. Goldsmith to enter negotiations for the property on February 10, 2022. After receiving a third-party appraisal, it was determined that the Diocese’s asking price was fair and the Town entered into an agreement to purchase the property.
Town Manager Jill Goldsmith said “This is an exciting opportunity for the Town of Chatham to move forward creating much needed Affordable Housing, we thank the Diocese of Fall River for their response to the RFP and their shared commitment to Affordable Housing efforts.”
Bishop Edgar M. da Cunha, S.D.V. said “The Diocese of Fall River is pleased that the unused parcel of property on Meetinghouse Road met the criteria of the Town of Chatham’s RFP for land for an affordable housing initiative. Decent, safe, and affordable housing is indispensable to the health of any community and its residents. In this transaction, the Diocese is acting in a fiduciary role for Holy Redeemer Parish in Chatham and proceeds from the sale will go to support the financial needs and plans for the future of the parish.”
“This purchase is a wonderful opportunity for the Town to make a major impact on our housing needs and we hope to move forward as quickly as possible to provide affordable homes in our community,” said Peter Cocolis, Chair of the Select Board.
This purchase in being fully funded through the Town’s Affordable Housing Trust Fund.
The next step is to enter into a Purchase and Sale Agreement with a closing occurring on or before August 1, 2022.