End of renovation nears for affordable-housing project in North Stonington

North Stonington — After some delays, one of the town's first forays into affordable housing is nearing the end of renovations and is on the market, waiting for a family to make an offer.

The home at 101A Anthony Road, which is close to the Rhode Island border, was given by the town to NeighborWorks New Horizons, an affordable-housing developer, in 2016. NeighborWorks agreed to make renovations to the property and sell it as deed-restricted affordable housing.

Neighbors described the property as in rough shape when it came into the town's possession, with holes in the floorboards and part of the wall at the rear of the property torn down.

Property records show that Barbara Maine owned the property from the 1950s until her death in 2011. The home was $17,000 behind on taxes, and despite five parties attending an auction of the home in January 2014, none decided to purchase it. The home then passed into the town's possession in 2015.

The Affordable Housing Committee, a town board that seeks to ensure more affordable housing options are offered in town, received a proposal from NeighborWorks New Horizons in 2015 to renovate the property. That proposal, which involved selling the home to NeighborWorks for $1 so it could renovate the property and then sell it for the cost of renovation, was approved at a 2016 town meeting.

"I think it will be a boon to the neighborhood," said Mary-Ann Ricker, chairwoman of the Affordable Housing Committee. "It was pretty derelict before." Once the landscaping is finished, she added, it will look completed. 

Nutmeg Building & Remodeling LLC was chosen to renovate the property, beginning in 2016. 

NeighborWorks had set an ambitious goal to finish earlier that year, but there were a few unexpected delays, Ricker said.

The proposal involved demolishing some of the damaged structure, making upgrades to the bathroom, new windows, kitchen, lighting and adding some appliances, among other improvements. The septic system also was upgraded and after a year and a half of renovation, the contractor completed the interior rehabilitation. 

"We have some landscaping and punch list items to complete," wrote Tom Cruess, senior project manager at NeighborWorks New Horizons. The home went up for sale for $249,900 in the spring, since dropping to $224,500 — about the amount that was spent on the renovations. It is listed with ReMax on the Bay.

To purchase the home, a family's income cannot exceed 80 percent of the area median income, which for a family of four in North Stonington is $65,800.

Because the home is deed-restricted as affordable housing, it may not be resold at greater than the asking price for 15 years.



Loading comments...
Hide Comments