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Chelmsford church land sale could bring housing
By TOM SPOTH, Sun Staff
Lowell Sun, MA
25 Oct. 2004
CHELMSFORD -- The cash-strapped St. Vartanantz Armenian Church has
sold eight acres of its 16.6-acre property to raise money for repairs
and hire a full-time priest, church officials said.
Billerica developer Fran McCarthy is planning a 32-unit
affordable-housing development on the St. Vartanantz land, according
to town officials.
Paul Ketchoyian, chairman of the church's parish council, said the
land sold for $1.5 million, a figure that could increase depending on
the number of units approved by the Zoning Board of Appeals. Chapter
40B affordable-housing plans fall under the ZBA's purview.
Ketchoyian said the land could have fetched a larger sum, but the
parish council wanted to choose a buyer that would develop the land
responsibly. (One bidder planned to build 108 condominiums, he said.)
"It boiled down to what we thought was good for the town and good
for the church," Ketchoyian said. "Anything less (than $1.5 million)
would not solve the problem."
The income will pay off a mortgage on the church building, and interest
earned will help with upkeep, Ketchoyian said. Money that had been used
for mortgage payments would then be freed up to pay for a full-time
priest, he said. St. Vartanantz currently uses a part-time priest
that visits the church only on Sundays.
McCarthy has not filed plans with the town yet, director of community
development Andrew Sheehan said. McCarthy is currently seeking approval
from MassHousing, a state money-lender for affordable projects.
Ketchoyian indicated that the main access to the property would be
off Walnut Street, and residents in the area have already called the
church with concerns about the proposal.
Ten triplexes and one duplex are planned for the site, Sheehan said.
According to Ketchoyian, the units would be restricted to buyers who
are at least 55 years old.
McCarthy did not return a phone call seeking comment.
By TOM SPOTH, Sun Staff
Lowell Sun, MA
25 Oct. 2004
CHELMSFORD -- The cash-strapped St. Vartanantz Armenian Church has
sold eight acres of its 16.6-acre property to raise money for repairs
and hire a full-time priest, church officials said.
Billerica developer Fran McCarthy is planning a 32-unit
affordable-housing development on the St. Vartanantz land, according
to town officials.
Paul Ketchoyian, chairman of the church's parish council, said the
land sold for $1.5 million, a figure that could increase depending on
the number of units approved by the Zoning Board of Appeals. Chapter
40B affordable-housing plans fall under the ZBA's purview.
Ketchoyian said the land could have fetched a larger sum, but the
parish council wanted to choose a buyer that would develop the land
responsibly. (One bidder planned to build 108 condominiums, he said.)
"It boiled down to what we thought was good for the town and good
for the church," Ketchoyian said. "Anything less (than $1.5 million)
would not solve the problem."
The income will pay off a mortgage on the church building, and interest
earned will help with upkeep, Ketchoyian said. Money that had been used
for mortgage payments would then be freed up to pay for a full-time
priest, he said. St. Vartanantz currently uses a part-time priest
that visits the church only on Sundays.
McCarthy has not filed plans with the town yet, director of community
development Andrew Sheehan said. McCarthy is currently seeking approval
from MassHousing, a state money-lender for affordable projects.
Ketchoyian indicated that the main access to the property would be
off Walnut Street, and residents in the area have already called the
church with concerns about the proposal.
Ten triplexes and one duplex are planned for the site, Sheehan said.
According to Ketchoyian, the units would be restricted to buyers who
are at least 55 years old.
McCarthy did not return a phone call seeking comment.