By Carol McCracken (Post # 1,778)
Developer Nathan Bateman and his attorney Ron Ward told a meeting of the India
Attorney Ron Ward & Developer Nathan Bateman at India Street Planning Meeting.
Tom Federle, Real Estate Attorney for S. Donald Sussman.
Street Neighborhood Planning Advisory Committee last night (Tuesday, May 6th) that they were concerned that a proposal to mandate a temporary break in new development in the India Street Neighborhood would have a negative impact on their proposed condominium development – possibly costing him many thousands of dollars. On May 5th, Bateman Partners filed a proposal with the city for a mixed-use building to be constructed at 16 Middle Street – in front of the parking garage at the corner of Hanover and Middle Streets. Called the India Street Condominiums , the proposal includes the construction of a five-story high-rise with retail uses on the ground floor and professional offices on the upper floors. David Lloyd is the architect.
The reason for the concern of the Development Team for the India Street Condominiums is a proposal before the India Street Planners that, if adopted, would stop new development for a temporary time period – maybe six months – while zoning decisions are made on developing the India Street corridor. It’s called an Interim Planning Overlay District (“IPOD”). According to Caitlin Cameron, planning office project manager for the group: “It’s not a moratorium. It’s to protect the neighborhood from development pressure until the Master Plan is complete.” However, the real estate developers at the meeting were not as enthusiastic as is Cameron. Tom Federle, real estate attorney for billionaire hedge fund owner, S. Donald Sussman, who owns property in the neighborhood, said this proposal would be seen as a “moratorium” on development in the area and it could continue for longer than the intended six months. Joe Malone, said this proposal would not please other developers interested in the area.
The group voted to forward the draft proposal on to the Housing and Community Development Committee for consideration at its May 14th meeting. District 1 Councilor Kevin Donoghue is the chair of that committee. He is also a co-chair with Richard Barringer of the India Street Neighborhood Planning group although he was not present at last night’s meeting.
As for developer Nathan Bateman and Ron Ward, they received assurances from Cameron that because they had filed their proposal before the May 14th date, the India Street Condominiums were protected from any zoning changes that might result in the vicinity.