Letter to the Editor: Affordable Housing Trust To Support Affordable Housing At Bradstreet School Site

With over one million dollars under its control, the North Andover Affordable Housing Trust (AHT) is looking for projects that will result in Affordable Housing at the Bradstreet School Site.

North Andover has a need for Affordable Housing.  Approximately 30% of the households in North Andover would be eligible for Affordable Housing under the regulations established as part of Chapter 40B.  Yet less than 7% of the Town’s housing qualifies as Affordable.  This means that around 23% of the households in North Andover are paying more than 30% of their income for housing. 30% of income is about the upper limit that is recommended by family budget experts for housing. 

North Andover also has a need for more rental units.  Until fairly recently, the dominant influence on housing development was the ambition to create ownership opportunities.  As a result, the overwhelming majority of new units created were ownership units, and the percentage of North Andover’s housing units that were rental units fell below 30%.  Also, the vacancy rate among rental units fell well below 5%.  30% and 5% are broadly accepted minimums in communities that have an acceptable number of rental units.  That North Andover is below both of these thresholds indicates a shortage of rental units. 

Because of its centrality, the Trust believes the Bradstreet School Site is an excellent site for a project that addresses these needs.  Within a mile of the site are an elementary and middle school and a commuter rail station.  The site is in close proximity to retail stores, and it is on a bus line.

The need for Affordable Housing and rental housing and the desirability of the Bradstreet School site for Affordable Housing are all ideas that were presented in the Town’s Affordable Housing Plan, available on the Town’s website.

For these reasons, the Affordable Housing Trust has decided to offer monetary support to an acceptable project that will result in Affordable Housing on the site of the former Bradstreet School.

George Koehler, Chair

North Andover Affordable Housing Trust