SAUGUS — Construction of a 300-unit residential complex near Prankers Pond will begin this year.
Saugus Ridge, a project submitted by Saugus Residential, LLC., will be located on a 28-acre parcel located on Route 1 North. It is expected to take 18 months to two years to be completed.
The 300 units include 100 one-bedroom units, 36 one-bedroom apartments with a den, 87 two-bedrooms, 17 two-bedrooms with a den, 31 three-bedroom units and 29 studios in a single five-story building. Of the 300 units, 75 are expected to be affordable. The cost for rent is expected to range from $1,400 to $2,000.
The state’s 40B housing program allows developers to override local zoning bylaws to increase stock of affordable housing in municipalities where less than 10 percent of the homes are affordable. They often construct denser developments.
In 2016, the Massachusetts Area Planning Council held visioning sessions with the town to help develop a housing development plan. At the time, only 7 percent, or 749 units, were considered affordable.
Moderate income is defined as 80 percent of median income, which is also defined by the federal government regionally. In the Boston area, which includes Saugus, the median income for a family of four is $107,000. Moderate income in Saugus is about $80,000.
Low income is defined as 50 percent of the median income, and very low income is defined as 30 percent of the median income.
When Saugus Ridge developer Toll Brothers Apartment Living submitted a Comprehensive Permit Application for the complex last year, residents spoke out about concerns with the project, ranging from traffic and safety to environmental.
The effect on nearby Prankers Pond has been a contentious debate.
As part of the draft decision crafted by the Zoning Board of Appeals, the developer will be required to pay the town $42,500 toward improvements to the Cliff Road and Anderson Way neighborhood. In addition, they will restore Cliff Road after installing a looped system that allows access to water from more than one direction.
They will also pay $55,000 to go toward repairing and maintaining the pump stations should capacity issues arise.
The current walking trails near the pond will be kept open to the public, but the developers will not be obligated to maintain them.
Dumping of construction equipment will be prohibited on the 28 acres of land.