Mario Martin: “Real Estate is the common denominator in Medford”
June 15th, 2015, Medford, MA – City Council Candidate Mario Martin believes economic turn is rapidly approaching South Medford. The Green line extension into Ball Square is nearly complete expanding the reach of public infrastructure into the local community. But when MBTA occupies 97% of its project on Medford and faces Somerville storefronts, Martin seems to think South Medford might be slightly underrepresented.
Given the projects overwhelming benefits, the GLX not surprisingly has strong support from the majority of South Medford residents and the city administration, “But it’s important for the next administration to oversee the GLX through its completion”. Martin isn’t just talking about reducing congested Harvard street traffic, increased road maintenance, deadly auto emissions, and excessive parking demand; he’s talking about the economic growth potential.
Since the GLX will be within a 10-minute walking radius for 10,000+ locals, many residents understand, with benefits comes change. Martin’s vision is to turn the area into a culturally conscious, frequent shopping & recreational marketplace.
There’s no doubt the development is going to produce a wealth of benefits to South Medford residents, but Martin is concerned about the affordable housing and income inequality conversation everyone’s talking about.
According to a qualitative data report from The Metropolitan Area Planning Council, rents around Green Line stations are predicted to increase by 67% and further included that housing prices also see speculative increases.
Acknowledging there is a human impact by income inequality; a cost burden for middle and lower class families, this could potentially push families to be forced out of Medford, losing a sense of local community support and increased neighborhood turnover. This is bad for South Medford.
To create affordable housing, you have to create more housing, and you have to do it in a manner that creates price stabilization and incentives for owner occupancy. Residential tax exemptions are an example of several incentives.
Martin believes real estate performance is entirely based on market volatility. The longer your home sits on the market, the more value it loses, so naturally, real estate pros, value homes according to the average market time of similar homes that have recently sold. Martin emphasizes, this is how simple supply and demand works. Medford has a strong opportunity to maximize on these resources and develop a habitable experience for the South Medford & Hillside community and bolster municipal finances with significant new tax revenue. With more revenue, Martin wants the city to appropriate funding to improve police technology and increase public safety.
“We are vulnerable”, Martin sympathizes as he advocates the importance for a safer Medford Community. “Public safety and school ratings are top priorities for every young professional, first time homebuyer and I know this because Real Estate is my passion”.
To learn more about Mario Martin and support the vision for Medford, visit the campaign online at www.MarioMartin.org. You can also reach him directly at 781.708.2996 (Don’t abuse) or by email at Mario@MarioMartin.org.