Wellesley goes head-to-head with a 40B developer to win properties
“The Wellesley Board of Selectman announced last week that it has “initiated efforts to acquire the parcels at 818, 822 and 826 Worcester St. on behalf of the town.” However, the owners of both 818 and 822 Worcester St. have agreed to sell both lots to developer Jay J. Derenzo, who is proposing yet another Chapter 40B project.
The properties are located adjacent to the Hardy School site.
According to the town’s Assessors’ Office, Ira III C. Foss and Susan C. Foss are the owners of both properties.
Ira confirmed that a purchase-and-sale agreement with Derenzo has been signed.
Regardless of the agreement, Blythe Robinson, Wellesley’s executive director, said, “It doesn’t really have a material impact at all” on whether the town makes an offer.
In January, Massachusetts Housing (MassHousing) notified the town that a project proposal for 818 and 822 Worcester St. had been filed with the state seeking approval for project eligibility.
This is the third project being proposed by Derenzo, according to Wellesley’s Planning Director Michael Zehner.
Derenzo had previously proposed two 40B projects, for 680 Worcester St. and 16 Sterns Road, and MassHousing rejected both.
According to MassHousing, the proposed developments will consist of 28 homeownership units on approximately 1.12 acres of land.”
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Zarate, Jennifer. Wicked Wellesley 3 March 2018.