November 01, 2023 / By mobanmarket
HYANNIS, MA — A Boston-based developer has submitted plans to turn the former site of TD Bank into a mixed-income apartment building that features over 100 units.
According to the plans submitted by WinnDevelopment, the current two-story structure would be demolished to be rebuilt as a four-story apartment complex — Harbor Vue — that will feature 120 units and nearly 60 parking spaces at 307 Main St.
The elevator pitch for the new apartment complex is two-fold. First, it would serve as a sizable increase in the town’s affordable housing inventory. Second, it would bring more people — and, hopefully, business — to the Main Street Corridor.
Here’s what to know:
Affordable Housing
The mixed-use complex would help the community reach its affordable housing goal, raising Barnstable’s subsidized housing inventory from 7 to 8 percent.
Developers have committed to making a minimum of 25 percent of the units for those making at or below 80 percent area median income for a 40-year term. This allows all 120 units to be counted toward the town’s subsidized housing income, officials said.
Winn officials also note that the location of the development should be considered as a check in the housing diversity box.
Harbor Vue would be within close proximity to retail, restaurant and job opportunities for residents, meaning they won’t need a car to get to work.
Winn also committed to meet the Green Enterprise Communities requirements and to design the property to meet Passive House Certification. The cherry on top of the sustainability pitch are EV parking spaces for residents.
Main Street Vitality
The proposed site is within the Downtown Hyannis Growth Incentive Zone, Winn executives said the new residents will be a boon to local businesses and “add vitality to the Main Street corridor.”
That corridor includes the Downtown Main Street Zoning District and Hyannis Main Street Waterfront Historic District, according to the project narrative.
It wouldn’t be the first time a building in the area was retrofitted with apartments and parking, as the former Cape Cod Times building borders the property to the south.
There’s also a beautification element to the new apartments, developers said.
The design of Harbor Vue will pay homage to the maritime aesthetics of Hyannis, with other elements ensuring that the development with be in compliance with the Historic District guidelines.
Renderings of the proposed apartment complex can be viewed here.
What’s Next
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The group is set to go before the Hyannis Main Street Waterfront Historic District Committee on Aug. 30, which follows an informal review with the Site Plan Review Committee earlier this week.
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