Provincetown, MA: On Wednesday December 14, 2016, the Provincetown Board of Selectmen toured the 26-unit residential housing complex at 4 Harbor Hill Rd in Provincetown’s West End during an open house for anyone interested in acquiring the property.
The Selectmen are investigating the opportunity for the newly created Year-Round Rental Housing Trust (YRRHT) to purchase the property at Harbor Hill Rd off of the Bradford Street Extension, with the goal of it becoming, if possible, a self-sustaining enterprise. This is part of the ongoing efforts to provide year-round housing necessary to meet the needs of the community.
The property, currently in bankruptcy, will be sold in its entirety to a single buyer. Initial bids for the property are due February 14, 2017.
“If we are going to take advantage of this opportunity we will need to schedule a Special Town Meeting and a Special Election early in February to authorize the additional funds the Trust would need to acquire the property,” said David Panagore, Town Manager.
The property sits on a 1.2-acre site and is comprised of 26 one-, two-, and three-bedroom wood-frame condominiums. Parking for 27 cars is available on-site.
On Monday December 19 the Board of Selectmen will meet to interview and appoint trustees to the YRRHT. “As outlined in our Housing Playbook, we need strategies and tools to meet housing needs at many income levels. The YRRHT addresses the hole in the donut, making available housing at reasonable rates to middle income folks, who can’t afford or often can’t find housing, and don’t qualify for affordable housing opportunities,” said David Panagore.
“This is a once in a lifetime opportunity for Provincetown to make immediate progress in addressingour housing crisis,” said Raphael Richter, Chair of the Board of Selectmen. “While the time for us to act is short due to forces outside of our control, this opportunity is so great that the Board of Selectmen have confidence that Town Staff, the Trustees and the Community can come together to take advantage of this. If the Trust successfully acquires this property, we could see dozens of year round residents able to remain in and return to Provincetown in a time frame that is remarkably rapid for the public sector,” he added.
Harbor Hill was operating as a timeshare condominium trust until August 30, 2016, when the operating entity filed for Chapter 7 bankruptcy.