YARMOUTH – A 65 year old motel complex on Route 28 in West Yarmouth could be converted into affordable housing.
Town officials recently received a proposal from the owners of the Yarmouth Gardens Motor Lodge, after seeking out local motel owners willing to give the town first option to buy their properties.
Twenty-one owners requested information packets, but Yarmouth Gardens owners Oreste and Sheila Volpe were the only ones who followed through with the proposal.
The Volpes’ have owned the motel, which sits on two acres, for over 31 years.
The Affordable Housing Trust is expected to review the Volpes’ submission at a meeting at Town Hall on Monday.
Karen Greene, Yarmouth’s director of community development, said it’s a two sided approach.
“We’re looking to develop much needed affordable housing and we’re also looking to encourage investment in some older properties on Route 28 to just revitalize the corridor and hopefully encourage additional reinvestment,” said Greene.
If accepted, the Trust will seek a developer with a plan to raze the four buildings on the site currently, and construct affordable housing.
The property would be purchased by the town before being turned over to the developer who would own the property and the constructed housing.
Greene said it would then be up to the developer to acquire more funds to finish the project.
“The developer will be the one looking to secure additional subsidy, so we have $2.75 million which is a lot, but it’s not enough to build out the whole project,” said Greene.
