Can New Bedford have both affordable housing and luxury apartments?

As someone who is born and raised in New Bedford, it has become clear that the city is changing.

We now play a major role in the “off shore wind” industry, will soon be connected to Boston with the South Coast Rail, while still holding strong to the title of the #1 fishing port in America. New restaurants continue to pop up in our downtown along with a nightlife scene that residents of neighboring towns and cities come to enjoy.

With all of this growth in New Bedford we are now seeing a new investment being made into the city, luxury apartments.

Denis Keohane has been investing in New Bedford for over 20 years and is no stranger to being the first on the scene. He opened “The Catwalk” in downtown New Bedford before it was thought of as a place to go for “nightlife”. Now in 2023 he is a pioneer investing in 21 units of beautiful, new construction apartments soon to be available at 105 William Street in downtown New Bedford.

Of course, when some people hear the words “luxury apartments” and “downtown New Bedford” they scratch their head. Many individuals in the comments can’t comprehend who or why anyone would pay to live in luxury apartments on William Street. Some residents were angry in the comments because they feel New Bedford needs more affordable housing rather than new luxury apartments.

This leads us to wonder, can New Bedford have both affordable housing and luxury apartments?

I think it is first important to recognize that investors like Dennis Keohane are not where you should point your frustrations if you believe we need more affordable housing. Dennis is investing his own money into the city. He could have just sold the building and invested elsewhere but decided to continue to invest in New Bedford.

Speaking with local government officials and the Department of Housing and Urban Development is in my opinion the best way to address the issue. Speaking with our many great local realtors is another way citizens can gain deeper knowledge of the housing market and why rental prices are rising.

It’s also important to consider, is New Bedford alone in rising rental prices or is the entire nation experiencing this issue?

I believe it is most definitely possible for New Bedford to have a booming downtown with luxury apartments while simultaneously being home to affordable housing across the city. William Street is our “Times Square” so prices will obviously be higher in that area if it does in fact continue to grow.

Lastly, there is a common contradiction I’ve noticed in the threads on this issue. Some individuals are angry that someone is investing money to improve the city, while simultaneously complaining about how “run down” or “dirty” the city is.

Personally as someone who is born and raised in New Bedford, I want to see the city improve and become something great rather than stay the same or get worse.