The proposal was for 133 units to be installed in two phases, with construction beginning in early 2015, pending approval.
For more information, read an excerpt of the article that appeared in Andover Eagle-Tribune.
At a public hearing this week, Ted Tye, managing partner of National Development, told the Planning Board that the project would help address a critical need for affordable elderly housing in the area.
“We have a very dramatic change in demographics across the state, across the country and here in Andover,” Tye said. “Our population is getting older.
"We have a surge of people who are over 80 years old and who need housing. Seniors are living longer, they have better access to health care and our average age is longer. Also, the baby-boomer bubble and the generation that precedes it is starting to make its way through.”
The project would meet the town’s 15 percent affordability requirement, Tye said. All 70 units in phase two, which represents 53 percent of the project, would fall into the threshold for affordability, he said. Of those, 56 will be designated for households earning no more than 60 percent of the area median income (currently $42,300). The remaining 14 apartments will be for households earning 30 percent of the area median income (currently $21,200).