The project site is located just south of the Mobil Mart and along the westerly side of Peters Pond. Forestdale Village will be constructed in multiple phases and at full build-out, roughly half of the 75.9 acre development parcel will remain open space.
In the mixed-use village area, the concept plan specifies 75,000 square feet of commercial building area containing a small grocery store, a branch bank, retail shops, eateries, and medical and professional offices. An allowance for an additional 50,000 square feet of second and third floor offices and apartments will enhance the New England Village theme. The project scope may also include a 13,000 square foot pharmacy and/or a 60-bed assisted living facility.
The housing component at Forestdale Village will include 148 single family 1, 2 and 3 bedroom homes. This project aspect has been thoughtfully designed to recognize the needs of local senior citizens, lower income residents, military veterans, and those with physical disabilities.
To address these needs, eighty percent or 111 of the homes will be sold to buyers who are fifty-five years or older. Twenty percent (including those acquired by age 55+ buyers) will be restricted to those who meet maximum income levels with the homes being conveyed at below market prices. Special financing programs such as “Homes for the Brave” which provides 100% financing for Veteran buyers will be offered. Likewise, the developers have pledged to gift one building lot to the Sandwich American Legion Post. Additionally, the homes may be finished with handicap accessible features at no additional cost in any one of the five New England styled models. All houses have first floor master suites, and most have front porches and garages.
The residential portion of Forestdale Village is being permitted through the Local Initiative Program (LIP), under Chapter 40B administered by the Massachusetts Department of Housing and Community Development (DHCD). The Comprehensive Permit has already been approved by the Sandwich Board of Appeals.
The commercial component required the rezoning of the area from residential zoning to Business Limited 1, a measure approved at Town Meeting in October 2009.
According to the developer, Forestdale Village has the potential to create 452 full time jobs for one year during construction, and upon completion 223 full time jobs within the many village businesses. Other financial incentives cited are the estimated $650,000 of additional annual tax revenues for the Town of Sandwich and the minimal impact on the local schools due to the high percentage of residents age 55 years and above.
Along with the Massachusetts Department of Environmental Protection (DEP), the Cape Cod Commission has commenced its review of the commercial portion of the project as a Development of Regional Impact (DRI). The project applicant is Pimlico Pines Realty LLC.
“We’ve been very pleased with the support we’ve received from the neighbors and the town, and we’re overwhelmed by the interest from homebuyers and businesses”, said Christopher E. Bailey, the project’s Development Consultant and Broker. “It seems like Forestdale is really ready to have a village center. We feel like we’ve got lightning in a bottle right now.”
For more information on Forestdale Village, contact Christopher E. Bailey, CCIM, Development Consultant and Broker at (508) 259-3408 or visit www.forestdalevillage.com