Attorney K. Joseph Shekarchi put it in simple terms.

“There’s a glut of office space and a shortage of housing.”

Evidently the Planning Board agreed with Shekarchi’s assessment.

On Aug. 11 the board granted master plan approval to Shekrachi’s client, RWR Real Estate Investment Group, LLC with a favorable recommendation to the City Council to rezone change of a 30,744 square foot lot in Greenwood from office and residential to planned district residential. Should the council approve the rezoning, the developer would return to the Planning Board for preliminary/final plan approval before moving ahead with the demolition of the Kreamer Center at 2907 Post Rd.

Ryan Russo, of RWR, told the board he would build eight apartment units on the site that is flanked by commercial properties and is backed by residences. Residents attending the planning meeting didn’t object to the development with some after seeing the architect’s rendering of the proposed building saying it would be an improvement.

George and Laura Smith, who live behind the site, had questions about parking and the shielding of the lot by plantings. Russo plans a minimum of two parking spaces per unit. City Principal Planner Lucas Murray said the board has the power to set conditions including fencing and landscaping as part of master plan approval. He pointed out that residents would have the opportunity for additional public comment when the plan comes before the City Council and the Planning Board.