In The Pipeline

Valley was recently awarded $2.5M in grants from the Department of Energy Resources (DOER) Moderate & Low Income Decarbonization Program and the MassHousing Climate Ready Homes Program for the proposed geothermal alternative energy system at Prospect Place. Because of these funding grants, we will convert from existing fossil fuel systems to all-electric systems primarily powered by alternative energy sources. New geothermal will fuel heating, cooling, and hot water, while PV Solar proposed on the roof will support other electricity needs. Alternative energy such as geothermal is the key to keeping rents affordable amidst rising electricity costs and has untapped potential.

Previous to the grant awards, Valley had put a funding application into the Executive Office of Housing & Livable Communities (EOHLC) office for the remaining funds needed for the remaining work at the 737 Bridge Rd site to convert the former nursing home into 60 all affordable apartments. We except to hear back from the State (EOHLC) sometime in December on their decision. If awarded, Valley will be proceeding with construction around August 2024 and will expect 13-15 months for construction.

Valley received Major Site Plan approval from the Northampton Planning Board in October 2022.  In the same month, the Massachusetts Underutilized Properties Program awarded funds to pay for asbestos removal at the property.  This abatement work began in January 2023.

Design work continues to evolve and is focused on integrating neighbor comments, producing highly livable apartments for families, and creating a near-zero net energy property that eliminates the use of fossil fuels.

With help from Saloomey Construction and WellSpring Geothermal, Valley recently drilled a test well to assess the site for future geothermal energy. Geothermal is an excellent passive renewable energy source that involves using the natural ground temperature for heating & cooling. If the test well provides positive results, future wells would go down 400 feet into the ground. Geothermal could help us operate affordable housing for years to come!

Valley acquired this property at 329 Russell Street, Hadley in early January 2023 with financial assistance from the Community Economic Development Assistance Corporation, having already received a $650,000 grant award from the Federal Home Loan Bank of Boston Affordable Housing Program in December 2022.

In February of 2023, Valley applied to the Hadley Zoning Board of Appeals for a permit under Chapter 40B. While multiple Hadley Boards and residents support Valley’s proposed redevelopment, the Hadley Zoning Board of Appeals (ZBA) denied the permit. Valley appealed the ZBA denial to the MA Housing Appeals Committee and received a Summary Decision in Valley’s favor in November 2023.

During the holding period (prior to redevelopment), the first floor of the former EconoLodge is successfully leased to Craig’s Doors and provides shelter for 38 unhoused individuals.  Next steps for this redevelopment include raising the balance of financing, completing renovations, and leasing up new apartments.

In November 2022, Valley responded to a Request for Proposals issued by the City of Northampton to develop a City-owned property at 27 Crafts Avenue for affordable housing.  Valley was selected to be the project developer and will work with Jones Whitsett Architects and the City to develop a new construction program and design for the site.

Current plans call for 30 new studio apartments with 20 of the apartments for those individuals making 30% or less of the area median income with a preference for individuals who are currently unhoused. The remaining 10 apartments will be set aside for individuals who currently earn 60% or less of the area median income. We intend to have on-site property management, resident services & maintenance staff on-site on the ground floor level.

On August 24^th, 2023, The City of Northampton Planning Board approved the Major Site Plan Approval zoning permit for the project. Project site plans, exterior elevations, and additional supporting documents are available to the public on the City of Northampton website.

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Valley Community Development plans to build an affordable homeownership development which will create an estimated 30 homes on an 9.047-acre property in North Amherst. The development will be 15 duplex condominiums clustered around shared open spaces, and shared parking arrangements will minimize vehicular traffic and emphasize pedestrian connections. All the homes will be deed restricted to Low-to-Moderate Income first-time homebuyer households, with a preference for first-time homebuyers that meet the CommonWealth Builders (CWB) program purchaser requirements, which is the anticipated state subsidy source for the development.

Valley acquired the site in August 2022. The first schematic site and building plans were presented at the District One Neighborhood Association BBQ in September 2022 with our design team, Peter Flinker from Dodson & Flinker Associates, and Tom Chalmers from Austin Design Cooperative, Inc. A second neighborhood community meeting was held on the property in April 2023 to review the site redevelopment and building plans to date. Valley filed a Chapter 40B Comprehensive Permit request with the Amherst Zoning Board of Appeals in September 2023, with the first of several public hearings scheduled for October 2023.

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