CHATHAM – The Town of Chatham has acquired a property that will be used for developing affordable housing.
The town and its Affordable Housing Trust Fund Board of Trustees purchased a roughly 2.5 acre parcel of land on Main Street in West Chatham. The closing happened on November 7th.
The parcel was bought from the Estate of Joseph B. Buckley and Gloria B. Bodman for $1,375,000.
Half of the funds came from the Affordable Housing Trust with the other half coming from the town’s free cash.
Officials said last year’s Annual Town Meeting approved using the money for acquiring the parcel.
Town Manager Jill Goldsmith thanked the Buckley and Bodman families for responding to the town’s Request for Proposals for land that would be suitable for developing housing.
Select Board Chair Jeffery Dykens commented on how the acquisition is part of the town’s efforts to maintain year-round residents.
“This piece, along with the Stepping Stones and Meetinghouse parcels, stands as testimony to the town’s commitment to develop affordable and attainable housing in a very challenging market,” Dykens said.
Chatham plans to start community engagement on the property and the Meetinghouse property in December.
By Brian Engles, CapeCod.com NewsCenter
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