Image courtesy of Cube 3
Redevelopment of a former Waltham hotel and restaurant property as 340 apartments received approval following debates over affordability levels and the potential for an appeal to a state board.
The Davis Companies of Boston originally submitted plans for the 455 Totten Pond Road project in early 2025 under Chapter 40B, the state’s affordable housing law. The site includes the former Home Suites Inn and Naked Fish restaurant buildings.
Following a lengthy review, the company agreed to a $2 million community benefits payment and to increase the affordability component from 20 to 25 percent, including 13 apartments reserved for households earning 60 percent of area median income.
Waltham city councilors are considering lowering affordability requirements on a citywide basis for all projects, Davis Companies Chief Development Officer Michael Cantalupa told the Zoning Board of Appeals during an April 14 presentation.
“The reason they are doing that is it is very difficult for developers to operate at a 20 or 25 percent affordability requirement, and many projects are not getting built,” he said.
The City Council is considering a reduction in the minimum percentage of income-restricted units in multifamily projects, reflecting additional financial challenges developers face from inflation and higher interest rates. Currently, projects with at least 18 units are required to include a 20 percent income-restricted component.
“You’ve pushed up to the point where we cannot contribute any more and we respectfully would ask you to approve the submission that we’ve made,” Cantalupa said.
The presentation didn’t sway a majority of the board on April 14, when it voted 3-2 to reject the project.
But two weeks later, following a presentation from Assistant City Solicitor Michelle Learned, the board reversed its decision.
Learned outlined changes in the community benefits agreement that would give Waltham Mayor Jeannette McCarthy more discretion to apply community benefits payments. She also indicated that The Davis Companies had not ruled out a potential appeal of a denial to the state Housing Appeals Committee, which frequently rules in favor of Chapter 40B developments citing the region’s need for additional housing.
At the previous meeting, ZBA member Glenna Gelineau characterized the $2 million community benefits payment as “unsubstantial” for a project of its size. Gelineau noted that three multifamily projects totaling over 1,000 housing units are proposed or approved in the city’s commercial districts near Route 128.
While Gelineau twice voted against the project, member Stephen Taranto switched his earlier vote to approval at the follow-up meeting. Members did not comment before the vote to approve.
Officials in Chelsea also are considering a rollback in the city’s inclusionary development policy, following a slowdown in new construction. A local developer and the Pioneer New England Legal Foundation are challenging Cambridge’s inclusionary policy in court as an alleged violation of property rights.
