Approval for Kingston Collection apartments includes $385,000 – Wicked Local

Trammell Crow has also committed to setting aside 10 percent of the multifamily rental apartments as affordable units.

KINGSTON The proposed four-story, 282-unit apartment complex at Kingston Collection can go forward with a $385,000 commitment from the developer toward the cost of a new fire engine and other money to be spent as the town sees fit.

The Planning Board voted 5-0 Monday night to approve a special permit for Trammell Crow Residentials development at the former Sears location.

Planning Board Chairman Tom Bouchard said negotiations with the company focused on the developers offer towards the cost of a new fire engine and the cost associated with building sidewalks, but funding specifically for sidewalks is not part of the agreement.

Instead, Trammell Crow has committed to $150,000 for the fire engine and $235,000 toward costs for the public benefit. Bouchard said the $235,000 could still be spent on sidewalks or nearby intersection improvements, or additional funding could be applied toward the cost of the fire engine.

Trammell Crow Residential Development Manager Mark Baranski said from their standpoint they dont see the value in giving the town money for sidewalks and would rather see the $235,000 benefit the town.

Planning Board members agreed to this, although Bob Gosselin did question the timing of the payment of the $385,000. The recommendation was that Trammell Crow pay the town before approval of an occupancy permit.

Gosselin suggested that the company be required to pay the town before approval of a building permit instead.

Baranski said the preference is always to delay large expenditures until they are really needed, and with his understanding that the money for the fire truck isnt needed in the next several months, thats why the company has built in some wiggle room.

Gosselin asked what happens if Trammell Crow decides not to proceed with developing the project or sells it.

Baranski said legal language as part of site plan approval spells out that only the limited liability corporation that owns the land for Trammell Crow, or its successors, can develop this project under this permit. He said its essentially about satisfying debt and equity partners.

The intention is to go forward as planned, Baranski said. Its us. Were with you going shoulder to shoulder through this project.

The Planning Board added to the list of conditions of approval to ensure that the project would be substantially the same as proposed at this time by requiring that the plans are in substantial conformance with the plans before the start of construction.

Trammell Crow attorney Jim Ward suggested this language to satisfy Planning Board members concerns that the plans could at some point be altered. Ward said its not that unusual to include this kind of language so it satisfies their concerns that the lenders would be comfortable with it.

Bouchard initially asked for the Planning Board to get a final look at the final plans before the start of construction, just in case the project changes hands, but he and the other Planning Board members agreed to the condition as long as the development meets or exceeds the standards set in the final draft.

Our objective would be that it meets or exceeds your preliminary drawings, Bouchard said. Thats our goal.

While most of the conditions are standard conditions, including submission of final architectural and landscaping plans, Trammell Crow has also committed to setting aside 10 percent of the multifamily rental apartments as affordable units.

Follow Kathryn Gallerani on Twitter @kgallreporter.

More:
Approval for Kingston Collection apartments includes $385,000 - Wicked Local