Tuesday, July 27, 2010

Affordable Housing Strategy and Development Plan: Conclusion of Existing Conditions

g. Conclusion of Existing Conditions

The Town of Franklin has a unique history of development that has shaped, molded, and influenced the growth of this Massachusetts town. From this synopsis of information, several issues are recognized which will be important in Franklin’s future housing programs and overall planning.

  • Although overall population growth has continued, the most significant population growth has been in middle-age cohorts. These are typically the age groups that have the largest family sizes and live in single-family homes.
  • The gap between the median costs of home ownership and the median, moderate, and low-income levels is very significant. For middle-income buyers, the cost differential is not considered highly significant at this time, so long as the higher income jobs remain available for residents.
  • The amount of buildable land is decreasing while the housing stock is aging. As the Town approaches build-out, the ability to control housing costs by new production will be very limited. Moreover, the potential for future reconstruction and redevelopment pressures suggests that renovation, updating, and infill development policies will be important to the future character of the residential areas, in particular the areas with older housing stock such as the downtown and surrounding neighborhoods.
  • With new Census data expected in 2010, the Town anticipates possibly being under the state’s subsidized housing goal of 10% in the next few years. This has important implications for the Town’s housing strategies by providing opportunity to focus new housing development into areas that meet specific local goals and regulations as well as general state mandates in order to meet state subsidized housing goals.
  • The existing water and sewer infrastructure and planned projects appear to adequately support existing and projected population growth and housing development. Recent and planned school facilities also appear to support the future educational needs of the Town's residents.

The full Affordable Housing Strategy and Development Plan can be found on the Franklin, MA website

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