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WALTHAM, MA After years of back and forth and pushback from the community, a luxury apartment building with 25 percent of its units deemed affordable to be built at 341 2nd Ave near Bear Hill Road is under construction.
The project Broadstone Watch City is set to feature 195 apartments, 49 of which will be designated affordable.
The project was brought forward by Alliance Residential Co., a Phoenix-based developer, is being built using an affordable housing law that allows a developer to circumvent most local zoning as long as the project provides a percentage of units at rates deemed affordable according to state income guidelines. Chapter 40B (or 40B as its referred to) is a state law enacted in 1969 to address affordable housing shortages statewide.