Giant apartment complex coming near Taunton train station. When and how much is the rent?

Ed Baker, The Taunton Daily Gazette
·3 min read

TAUNTON — Taunton residents who want easy access to the MBTA’s South Coast Rail station on County Street after its construction can live nearby in a planned 255-unit apartment complex.

The Zoning Board of Appeals approved Alliance Residential Company's site plan on Thursday, Aug. 24.

ZBA Chairman Dennis Ackerman said Alliance plans to start construction within a year.

“They need to get financing for it,” he said on Friday. “They could break ground for it next month.”

According to the MBTA, construction of the East Taunton station and South Coast Railroad transit railroad is expected to be completed in late 2023.

The Taunton Zoning Board of Appeals approved Alliance Residential Company's plan to construct an apartment complex on County Street near the East Taunton MBTA station, which is expected to be completed in December 2023.
The Taunton Zoning Board of Appeals approved Alliance Residential Company's plan to construct an apartment complex on County Street near the East Taunton MBTA station, which is expected to be completed in December 2023.

Alliance plans to construct three three-story apartment buildings, a four-story structure and a playground for children who live on the 148-acre site on County Street.

Construction of the apartment complex is possible because the City Council approved Mayor Shaunna O’Connell’s request in November to create a Transit Oriented District near the planned East Taunton MBTA station to generate additional property tax revenue for the city.

The Transit-Oriented District extends a half-mile on County Street from the East Taunton MBTA station past the Taunton Home Depot shopping plaza.

According to City Planner Kevon Scanlon. the Transit-Oriented District could accommodate fitness centers, business offices, coffee shops, restaurants, bars and stores.

The zoning also allows for bakeries, banks, barber shops, hair salons, laundromats, medical offices, dental facilities, museums, newsstands, photography studios and a wireless communication antenna.

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Construction of the East Taunton MBTA Station near Route 140 is underway and expected to be completed in late 2023. (Credit: Taunton Gazette file photo)
Construction of the East Taunton MBTA Station near Route 140 is underway and expected to be completed in late 2023. (Credit: Taunton Gazette file photo)

How much will the monthly rent be?

Ackerman said Alliance officials indicated the monthly rent for the one-bedroom units would be $2,500 and for the two-bedroom units it would be $3,000.

Alliance must pay a $1.6M affordable housing fee to Taunton

Ackerman said Alliance officials recently indicated they had some financial issues and could not rent 28 units at reduced prices for people who earn low to moderate incomes under Massachusetts’ affordable housing criteria.

“They proposed a one-time $600,000 payment to the city of Taunton to remove 28 affordable housing units,” he said. “Those units are mandated by state law.”

Ackerman said Alliance's offer to pay a one-time $600,000 fee to Taunton “is a drop in the bucket.”

“They will make close to $40 million on this (apartment) project if they want to sell it five or seven years from now,” he said.

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Taunton Zoning Board of Appeals Chair and Planning Board Vice Chair Dennis Ackerman
Taunton Zoning Board of Appeals Chair and Planning Board Vice Chair Dennis Ackerman

Ackerman said Alliance would earn a yearly $356,000 profit from the rental fees charged to tenants.

“That $600,000 one-shot fee is ridiculous,” he said.

Ackerman said the ZBA should require Alliance to pay a $1.6 million fee to the Taunton Municipal Affordable Housing Trust Fund, which provides finances to construct affordable housing for residents with low or moderate incomes.

“There is a need for affordable housing,” he said.

Alliance Managing Director Michael Boujoulian said the COVID pandemic’s economic impact has presented financial challenges in trying to create the apartment retail complex.

“For the past two years, we have been coming out during the pandemic to work with the city and state to get this project to where it should be economically,” he said. “During every step of that process with state agencies and the mayor’s office, I have been honest. Our intent with this project was not to make a fee request.”

Boujoulian said new bank loan interests occur every week and challenge Alliance Residential Company.

“Mr. Chairman, you included zero expenses in your analysis,” he said. “It’s unfair not to include expenses.”Boujoulian said not having 28 affordable housing units in the complex “would not remove affordable housing from Taunton."

“I’m passionate about affordable housing,” he said. “That $600,000 fee is not an arbitrary number. I have provided that $600,000 number in good faith.”

When the discussion ended, the board unanimously agreed to require Alliance Residential Company to pay a one-time $1.6 million fee to the Taunton Municipal Affordable House Trust fund.

This article originally appeared on The Taunton Daily Gazette: Taunton MBTA South Coast Rail station: Apartment complex approved