PROVINCETOWN – Provincetown will hold a special town meeting in February with just one article on the warrant – the purchase of a 26-apartment complex in the west end of town that will be going up for auction in mid-February.
Harbor Hill at Provincetown filed for bankruptcy in recent months, and with the town in the midst of a year round housing crunch, town officials feel that letting the opportunity to purchase the complex would be a costly mistake.
“It’s unusual to see a town participate in an auction,” said Selectman Tom Donegan. “But this is such a unique property that we think it’s something we have to do and we believe that we have a unique path to be successful.”
The units include 25 two-bedroom and one three-bedroom move-in-ready apartments, and would be aimed a middle income residents.
“Affordability is across the income spectrum on the Outer Cape,” Donegan said. “It’s not just low income, it’s not just the traditional affordable housing that everyone’s familiar with. It’s also middle income wage earners and that’s who we’re hoping to address here.”
The property is assessed at $6.8 million, and the town must submit its bid by February 14.
The special town meeting will be held February 6, with an election to be held the next day to appropriate the still to-be-determined funding for the bid.
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