How Will the 40B Affect Schools in the Proposed Plan at Rolling Green?
The developer proposing the 40B project at the Rolling Green Golf course has recently changed the project from what was . It now includes 224 rental units between two buildings, varying between one, two and three bedroom apartments.
A total of 25 percent of the units will be deemed affordable and will cost less based on 80 percent of the annual median income of the area.
Using rough figures from existing condo and apartment complexes, a consultant with the project estimated that this will eventually add 45 new students to the Andover Public Schools system. The overall increase in educational costs for the town was estimated at $515,000 per year.
Overall, the project consultants estimate that the project will begin at a loss of $77,000 per year for the town; i.e. annual revenue generated from the development's property taxes versus the how much the town will spend annually on public services for the development.
However, consultants also said that they feel the town will eventually end up breaking even on a year-to-year basis in terms of the project's impact on public services versus the revenue it provides to the town.
The development itself will include many amenities for residents including a pool, a clubhouse and others.
The plan includes building on the grounds of the Rolling Green Golf Course, which will shut down as a result of the project.
Check back with Andover Patch later this week for an update on the project's current status with the Zoning Board of Appeals.