City of Somerville, Massachusetts - File #: 205328

• File #: 205328
• Version: 1
• Type: Public Communication
• Status: Placed on File
• File created: 3/6/2018
• In control: City Council
• On agenda: 3/8/2018
• Final action: 5/24/2018
• Enactment date: 3/8/2018
• Enactment #: 205328
• Title: Ronald Cavallo submitting comments re: #205250, a proposed Clarendon Hill Public Housing Project Home Rule Petition.
• Related files: 205250

Date	Ver.	Action By	Action	Result
5/24/2018	5	City Council	Work completed
5/21/2018	4	Legislative Matters Committee	Placed on file
5/16/2018	3	Legislative Matters Committee	Kept in committee
5/8/2018	2	Legislative Matters Committee	Kept in committee
3/8/2018	1	City Council	Placed on file

  Agenda Text

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Ronald Cavallo submitting comments re: #205250, a proposed Clarendon Hill Public Housing Project Home Rule Petition.

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Official Text

To the Honorable Board:

The current going price for a rental unit in Somerville has now hit $700k per unit. Think about a purchase price for land at $50k and a proposed development cost of $300k with the land in relation to that number. I understand the developers would only hold a 99 year lease which has impact on value, We are talking about the obscene margin of $450k per unit; which is noting short of larceny. I can support these numbers as a developer and a property owner and base them on the developer’s representations.

I am irate about this, the density, the proposal, and everything about this development; none of which seems good or justifiable.

Please forward this email to all the appropriate people.

Thank you.
Best,
Ronald J. Cavallo