Idea #36 – Review Town Owned/Used Property for Best Use

Report Status: Fully Reviewed

Researched by: Brian Antonellis

Original Idea as Submitted

Sell town-owned parcels for residential development or define a public purpose, Includes Belmont Municipal Light building, School Department administration building, etc. SCI-21 Sell or lease the town-owned parking lots in Belmont Center and Waverley Square for mixed-use commercial and residential development. This would increase short-term revenue through the sale or lease and through permitting fees and could increase long-term revenue through new property taxes. It could add affordable housing and might also spur additional development of these areas. The buildings themselves could be built over the parking lots.

Other ideas included in this report

  • # 20, #68, #77, #80, #204, #207, #208, #209, #210, #211, #225, #246, #248, #273, #284, #292, #315, #333, #342, #376, #379

Idea intent

Review town owned/used Property for best use.

Weighted Final Score: 53 (Financial Impact: 5, Operational Impact: 2, Time Scale: 2, Ease of Implementation: 1)

Background Information

Currently the town owns what is considered three types of property:

  • Vacant land – These are unimproved lots which do not appear to have an identified use but are small and usually buffers between residential properties

  • Parks and parking lots

  • Municipal buildings

Belmont needs a master plan, currently the master plan is out of date and does not consider the current market or needs of the town. (See Idea #40.)

General Law - Part I, Title VII, Chapter 41, Section 81D (https://malegislature.gov/Laws/GeneralLaws/PartI/TitleVII/Chapter41/Section81D)

Recommendations

  • Create a comprehensive town master plan (see Idea #40)

    • This plan should include a municipal space use study to identify where office space can be consolidated or used more efficiently to help create leasable space for the private sector which will drive increased revenues to the town

  • Evaluate town owned parcels, their use and whether the town can create revenue streams/layoff maintenance costs by selling or leasing land, or utilizing the building space for its best purpose (see below for town owned parcels)

    • Evaluate the vacant parcels

  • Prepare a market study for office leases. Currently Belmont has demand for office tenants who are being pushed out of the Fresh Pond/Cambridge market as office space there is being redeveloped into lab space. COVID has put downward pressure on the office market which needs to be evaluated.

Next Steps

  • Work with Select Board and an appointed group of qualified individuals to Identify parcels that could be sold and/or land leased for development.

    • Once identified, go through an RFP process to see who and what is the best use and value for the property. For example, we should be studying what is really needed in the Belmont light building, what it would take to decommission that building and then run an RFP process asking for creative uses for the building. This should include hotel developers, residential developers and groups who rehab historical buildings.

  • Commence the master plan process and municipal space use study immediately.

Further Reading