Eligible staff have the opportunity to purchase existing homes from the college in the Pine Cobble subdivision as their primary residence. Benefit eligibility is defined as administrative staff who are half-time or more (0.5 FTE).
The Pine Cobble subdivision is located in Williamstown within a few miles of the college campus. It was designed under the principle of cluster zoning, which allows individual lot sizes to vary from the Williamstown Zoning Bylaw requirements in return for an equal or greater amount of open or public space.
Eligible staff have the opportunity to purchase building lots from the college in the Pine Cobble subdivision for the construction of homes for their primary residence. The terms of purchase of a lot in the Pine Cobble subdivision allow the eligible faculty or staff member to purchase the land from the college without an initial cash outlay. At the time of resale of the property the employee pays the college for the land, including any appreciation in value. This arrangement allows the employee to defer the expense of the land purchase and provides for the sharing of the property’s appreciation between the college and the employee. Purchase in the Pine Cobble subdivision has some attendant complexities related to tax issues, legal requirements and building restrictions. The importance of understanding these and other issues makes it essential for all employees who are interested in considering the purchase of a Pine Cobble lot to contact the Office of the Vice President for Finance & Operations for more detailed information.