Temple Property Meeting Monday

The developer will make a presentation to the public on the proposal at the 7 pm meeting at Swampscott High.

The developer of the has scheduled a public meeting at 7 p.m. Monday at the  auditorium, Selectman Jill Sullivan announced at last week's board meeting.

 Atlantic Crossing, the developer, will present its new, less dense plan for residential development on the property.

The selectmen agreed last month to take $350,000 less from Atlantic Crossing, which is proposing to build five fewer houses on the property.

The developer had proposed to pay the town $2.2 million and build 19 single-family homes on the property. But Town Meeting rejected that proposal this spring, sending Atlantic Crossing back to the drawing board.

The new, less dense proposal would divide the property into 14 home sites. The new lots would be 6,500 square feet.

The selectmen voted last month to approve the new plans.

The selectmen agreed Wednesday night to send a letter in support of the project.  

Derrell Handon August 26, 2012 at 10:33 PM
Agreed - but then we also gave away the playing field and the use of the temple for Grown Ups 2. Yeah, the crew came in and spent some money with local businesses. But, they also had money to burn and paid huge rents for residential properties. The selectmen need a business admin 101 course.
Archie Bunker August 26, 2012 at 10:39 PM
I was not in support of this project when it came before Town Meeting because the density of the project was too high and the lot sizes & setbacks created an environment so unlike the surrounding neighborhood. They have scaled back the density somewhat going from 19 to 14 homes. The two home design samples for the project are for homes of about 2500 square feet of living space. This is larger than many homes in Swampscott on the market right now. Let’s talk about math for a moment. In Swampscott the average price per square foot for a home of 2500 sf, is about $182 psf making the price paid about $455,000, on today's market. Fourteen such homes would yield about $6,370,000. The developers will pay about 2 million for the land, leaving $4,370,000 to work with. To build a new home with state of the art amenities, marketing and selling of the homes, the developers will have to be very efficient to make a modest profit. The incentive for the town selling at what you consider to be such a low price is that once occupied these homes will yield property tax revenue for the first time on this parcel of land. At $16.60 per thousand a four hundred thousand dollar appraisal would yield $6,640 per home, times 14 = $92,960 per year into the town coffers! The alternative uses for this land were for much more densely settled projects. I think this project makes sense for the town and the price of 2 million not unreasonable.
Citizen Swamp August 27, 2012 at 12:12 PM
AB, Clear and concise summary. CS
hammergjh August 27, 2012 at 02:58 PM
This proposal is certainly better than before however I still have concerns. As a town meeting member I received an info packet from the developer. Some lots are still very small at 4500 sq feet or so. This is still way too dense for the neighborhood. I would like to see something on the order of 10,000 sq foot lots, this makes for a much more livable neighborhood, keeps property values high and lessens demands on town services.
Citizen Swamp August 27, 2012 at 04:40 PM
H-gjh, Homes on Orchard Circle/Humphrey St. have a similar density (granted smaller lot size) and home values as the proposed development. If BOS hadn't blundered by being out negotiated for the Temple lot frontage on Atlantic Ave this project would have been a no-brainer. What a morass. CS


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