Greetings,
First, some good news. This past Tuesday, thanks in part to sustained advocacy from all of you, the Select Board voted unanimously to place the Chestnut Hill Commercial Area zoning Warrant Articles on the May Town Meeting agenda. That outcome reflects the efforts of 138 Town Meeting Members and 185 other Brookline voters who signed two petitions, along with several dozen individual letters urging the Board to act. More details about the meeting are in the Brookline.News article here. We are so grateful to everyone who took the time to speak up — THANK YOU, IT MADE A DIFFERENCE!
The focus now shifts to Town Meeting and the Board and Commission process that will vet these articles in the coming weeks, including public hearings before the Housing Advisory Board, the Planning Board, the Advisory Committee’s Land Use Subcommittee and then the full Advisory Committee.
Continued engagement from all of you will be important to ensure Town Meeting can fully consider and approve this once in a generation opportunity to advance transit-oriented housing (including income-restricted homes and a large contribution to the Affordable Housing Trust Fund), while strengthening Brookline’s commercial vitality and building our tax base.
Watch this space for details on the upcoming hearings and actions you can take to keep this very important ball moving forward.
Election Updates — B4E Town Meeting Endorsements
The filing deadline for the May Town election passed this week, so we have two important updates.
After reviewing many dozens of questionnaires and voting records, we’re proud to endorse 67 diverse candidates who you can find on our website here. (You can find your precinct here.) Our endorsees include many first-time candidates alongside long-serving incumbents; renters and owners; students, parents, professionals, and retirees. They share a commitment to increasing housing affordability; tackling the climate crisis; supporting a welcoming and diverse community; ensuring Brookline’s schools continue to support our students’ path towards educational excellence; and forging a creative and robust approach to economic development to help fund the vital services and community needs Town residents rely on.
Our endorsements for the Select Board will be announced soon. In a bit of a surprise, there are now three candidates for the two Select Board seats, including Amanda Zimmerman, B4E co-founder and board member, John VanScoyoc, currently on the Select Board running for re-election, and recent entrant Anthony Buono, currently TMM from Precinct 9. We will be reviewing their records and platforms before making our endorsement decisions.
Running a successful May campaign is a big job that we’re excited to do each spring. But in order to make it happen, we can always use more help. Please consider volunteering or contributing to the campaign. Every shift and every dollar really makes a difference!
B4E Book Club: this week!
The B4E Book Club meets this Thursday, March 26, from 7:00-8:00 at Brookline High School (MLK Room) to discuss Henry Grabar’s Paved Paradise: How Parking Explains the World. Does it live up to its ambitious subtitle? Does parking explain Brookline? The book can help frame discussions about current Brookline projects like the proposed apartment building at 26 Pleasant Street, the Centre Street Lots project, and the Chestnut Hill Commercial Area. All are welcome. Sign up here!
What (else) we’re reading this week
In recent months, policymakers from both parties have increasingly focused on the role of large institutional investors in the housing market. New federal proposals would either restrict or outright ban large firms from purchasing single-family homes. For a clear, data-driven analysis of this issue, see this recent Brookings’ article: The ripple effects of banning institutional purchases of single-family rentals. Or, for a more journalistic overview, including pending legislation, here is a report from CBS News: Rival bills target institutional home buying amid affordability concerns.
The political appeal is clear: in a tight housing market, large investors are often seen as outbidding families and driving up prices. But the data tell a more nuanced story. Nationally, institutional investors own a very small share of housing, roughly 3% of single-family rentals and under 2% of the total housing stock. Even eliminating them entirely would increase the number of homes available for purchase by only a marginal amount, too little to meaningfully affect overall affordability. Restricting them could reduce the supply of single-family rentals, potentially pushing rents higher for households that rely on that option. And while investor ownership is more significant in several Sun Belt markets, it remains even more limited in Greater Boston.
Thanks, and have a great week,
Jonathan Klein for Brookline for Everyone