Greystar plans major redevelopment of blighted mill site

In a recent city council meeting, officials discussed a significant redevelopment project proposed by Greystar for the Whittenton Mill site in Taunton, which has been vacant and dilapidated for over a decade. The project aims to transform the 36-acre area into a mixed-use development featuring 390 apartment units, primarily one-bedroom and studio apartments, along with commercial spaces and public recreational areas.

Jay Patikas, the executive director of the Office of Economic Development, highlighted the challenges faced in attracting developers to the site, noting that six previous developers had walked away from the project. Greystar's proposal, which has been adjusted from an initial plan of 700 apartments to a more manageable number, includes a commitment to maintain a significant portion of the units at prices affordable to residents earning between 80% to 100% of the area median income (AMI).

The project is expected to involve a $10 million cleanup effort to address hazardous materials and structural issues on the site, which has not generated tax revenue for the city in over 12 years. The council discussed the financial implications of the project, including a proposed tax increment exemption that would support the cleanup and redevelopment costs. This exemption is projected to significantly increase the city's tax revenue from the site once the project is completed.

Council members expressed a mix of support and concern regarding the affordability of the proposed rents, which start at approximately $1,950 per month. While some councilors acknowledged the need for housing in the area, they also raised questions about the potential impact on the community and the necessity of ensuring that the development does not overburden local resources.

The council is set to vote on the tax exemption agreement in the coming weeks, with many members optimistic about the revitalization of a historically blighted area and the potential benefits of increased housing options for residents.