LETTER: 51 S. Main – ‘We shouldn’t let this opportunity pass us by’

October 22, 2022 | By Mal Culbertson 

To the Community: 

On Monday October 24th we have the opportunity to secure more affordable housing for Waterbury and I’m urging my fellow EFUD voters to get out and vote yes for the sale of 51 S. Main to Downstreet Housing and Community Development. Most of us can agree, Waterbury has a shortage of housing and the cost of our housing is going up and up. A lot of people can’t afford to stay or move here. The vote on Monday evening is a chance to take advantage of a rare opportunity – housing with secured funding and a builder that cares more about the community more than their bottom line. 

EFUD has been hearing proposals and trying to sell the 51 S Main lot for several years now and I’m positive the lot will be sold eventually, it’s just a matter of who we end up letting it go to. The reality is that whoever ends up buying this lot can build whatever they would like, regardless of public input. Downstreet has demonstrated time and time again that they consider the public’s consideration their top priority. A market-based developer will be incentivized to maximize their return on investment by building as many units on this lot as they can, and zoning regulations currently allow for a much bigger building on this lot than Downstreet’s proposal. With interest rates going up and new financing becoming less favorable, other developers on this lot will need to recoup higher costs just to break even. 

Downstreet’s proposal is an ideal use for this lot and addresses a widespread need. Downstreet has been transparent in their designs and has demonstrated care and consideration for the residents of Waterbury in this project. Their draft designs already meet or exceed the parking, zoning, and design requirements, but they also have expressed their desire to ensure the building fits into the surrounding historic downtown district seamlessly. On top of that, the project already has funding available and Downstreet is able to move forward with the process immediately. 

We shouldn’t let this opportunity pass us by – voting no means prolonging our housing shortage. I encourage folks to vote yes to sell 51 S. Main to Downstreet Housing and Community Development, a responsible, non-profit builder that has committed to working with the public.

Thank you!

Mal Culbertson

Waterbury