Under the city’s Below Market Rate program, developers must offer at least 10 percent of units in a project at reduced rents. In lieu of that, they may seek approval to contribute the value of those units to the affordable housing fund instead. Carmel Partners was asking the board to approve the cash offset which would have added nearly $13 million to the fund. But this time board members instead wanted a portion of the required 49 reduced-rent units to be included in the Clinton Avenue project, because board members felt it was the ideal location for below market rate apartments and would allow low- and moderate-income residents to live within walking distance of transportation, jobs, shopping and Mill River Park. It was weird, Bosak said Tuesday. Developers usually work with the Zoning Board in such instances, he said. In this instance, he said, the board was seeking a compromise with the developer. “I was absolutely surprised by the withdrawal,” Bosak said. “I wanted to get some units on site because the city has such a need for affordable housing. I recognize the nonprofits do this type of development very well, but I didn’t want to wait for that.”
Developer Abruptly Withdraws, as Zoning Seeks Mix of Affordable Units in Downtown Stamford