WinnCo Unveils $38.3 Million Workforce Housing Project in Lowell

WinnCompanies, a multifamily development and management company, joined with Massachusetts Lt. Gov. Karyn Polito, state and Lowell city officials to unveil plans for a $38.3 million residential construction project in the Hamilton Canal Innovation District, a collection of 17 parcels master-planned to transform the primary gateway of downtown Lowell.

Building on vacant, side-by-side parcels separated by Canal Street, WinnDevelopment will create two five-story buildings with 125 apartments and 5,000 square feet of commercial space. It will be a true mixed income project – 54 workforce apartments will rent at 100% of Area Median Income (AMI); 39 units will be affordable up to 60% of AMI; and, 32 apartments will rent at market rates.

“We’re pleased to be moving ahead with a development featuring a sizable component of workforce housing, which seems appropriate for the city seen as the cradle of the Industrial Revolution in America,” said WinnDevelopment President Larry Curtis. “This project will add a new twist to our long track record of delivering innovative mixed-income, mixed-use communities that contribute to the vitality and the economy of Lowell.”

The Lowell City Council cleared the way for the project on Tuesday night, unanimously voting to approve Urban Center Housing Tax Increment Financing (UCH-TIF) under a new state program designed to promote multi-family housing in urban centers. Construction is expected to begin in late December 2019 and be completed in December 2021.

“These are fun places to live. There’s a lot going on. There’s a vibe in the downtowns of these old industrial cities because of this collaboration and the willingness of all of you to take the chance, to take the risk, and move forward,” said Lt. Gov. Karyn Polito. “This is a best-of-everything project because you a mixed use project combining commercial and housing together, but it’s also mixed income. To have workforce housing, affordable housing and market rate housing all together is a really great accomplishment. It’s something to the core that WinnCompanies fully embraces.”

Construction will be financed with equity generated by Bank of America’s purchase of federal and state Low-Income Housing Tax Credits; a construction loan from Bank of America; a first mortgage and Workforce Housing funds from MassHousing; financing from the Massachusetts Department of Housing & Community Development under the state’s Affordable Housing Trust Fund, Housing Stabilization Fund and HOME program; financing from the Community Economic Development Assistance Corporation in the form of the Facilities Consolidation Fund and the Community-Based Housing program; Opportunity Zone investment and developer equity from WinnCompanies; and, funds from the Massachusetts Clean Energy Center and MassSave, both dedicated to advancing energy efficiency and clean technology.

The City of Lowell is supporting the project with HOME program funds, the UCH-TIF plan, and infrastructure investments in and around the 51,000-square-foot site.

“The City has made significant investments to put in place the infrastructure needed to support private development in the Hamilton Canal Innovation District. We are pleased that WinnCompanies has put forward a project that will capitalize on these investments and that will help meet the demand for more safe and energy-efficient housing in Lowell in a way that will also stimulate commercial growth in this key area,” said City Manager Eileen Donoghue. “This announcement marks the continuation of a positive partnership between WinnCompanies and the City that has been successful in developing high quality projects that advance our economic development goals.”

WinnDevelopment Project Director Matthew Curtin will lead the development team, which features Keith Construction; ICON Architecture; landscape architect Copley Wolff Design Group; interior designer Wolf in Sheep Design; civil engineer Vanasse Hangen Brustlin, Inc. (VHB); and, structural engineer Odeh Engineers. Deirdre Robinson, a partner at Sullivan & Worcester, serves as legal counsel for the project.

“I am thrilled to see additional private investment in the Hamilton Canal Innovation District. Bringing mixed-use developments to this area is important to ensure that our downtown continues to grow and thrive into the future,” said Lowell Mayor William Samaras.

The development will offer 15 studio apartments, 63 one-bedroom apartments and 47 two-bedroom apartments. The two residential buildings will be linked to each other by an enclosed sky bridge spanning Canal Street, a nod to Lowell’s history when similar connectors joined industrial mill buildings. The sky bridge will also compliment the new signature bridge the city recently built over the lower Pawtucket Canal.

SourceBoston Real Estate Times

Merrivista to add senior housing

Bethany Community Services plans to expand its Merrivista senior housing complex on Water Street with the addition of 62 affordable, age-restricted apartments, with 16 units designated for extremely low-income households.

The project recently received a $200,000 predevelopment loan from the Community Economic Development Assistance Corporation or CEDAC.

Bethany operates Merrivista senior housing at 100 Water St., Phoenix Row apartments at 22 Phoenix Row in Washington Square and Mission Towers at 180 Water St.

Jered Stewart, president and CEO of the nonprofit Bethany Community Services, said all three properties currently have long waiting lists of seniors looking for affordable apartments and that the expansion of Merrivista will help meet a significant need for senior housing.

“CEDAC is providing us with resources that we can’t obtain from traditional lenders,” Stewart said.

He said the proposed 62-unit project will be connected to the existing Merrivista building — a 150-unit affordable senior housing complex — through a sky bridge that will provide residents with access to a library, hair salon, dining room, and additional support services.

The project will also feature a 5,000 square foot health and wellness center operated by Bethany.

Stewart said the health and wellness center will be available to all Merrivista residents.

“This is a great thing for the city,” Mayor James Fiorentini said, noting that almost daily, he hears from senior citizens who ask for his help in finding an affordable place to live. “This is just what we need and whatever the city can do to assist, we’re all for it.”

The Merrivista expansion is estimated to cost between $17 and $20 million. Construction could begin in 2022 or 2023, depending on financing approval, Stewart said.

CEDAC has also committed $200,000 to the North Shore Community Development Corporation (NSCDC), which plans to redevelop two former Catholic schools on either side of downtown Salem, Mass, into mixed-income rental housing, including units for affordable to low- and moderate-income residents.

“CEDAC is proud to support both of these projects, which will provide much-needed affordable housing opportunities to Haverhill and Salem,” said CEDAC’s executive director Roger Herzog. “We are glad to see a variety of housing options that will benefit local residents, including supportive housing for seniors.”

Bethany held a gala fundraising event Oct. 10 at the Bradford Country Club that kicked off its capital campaign for the Merrivista expansion.

More than 160 people attended the event, which featured a silent auction, a meal and live music.

To donate to the Merrivista expansion, visit online at bethanycommunities.org/ways-to-give.

CEDAC is a public-private community development finance institution that provides financial resources and technical expertise for community-based and other non-profit organizations engaged in effective community development in Massachusetts.

CEDAC’s work supports two key building blocks of community development: affordable housing and early care and education. CEDAC is also active in state and national housing preservation policy research and development and is widely recognized as a leader in the non-profit community development industry. For additional information on CEDAC and its current projects, visit cedac.org.

SourceThe Eagle-Tribune

Unusual partners are working to build much-needed affordable housing in Chinatown

Could a parking garage lot in the heart of the Theatre District be a guide to the future of Chinatown?

A rare coalition of for-profit and nonprofit developers are betting millions that the answer could be, surprisingly, yes. But that’s getting a little ahead of the story.

The development giant Millennium Partners Boston has joined forces with the Chinatown-based Asian Community Development Corporation to build 168 units of affordable housing on a small lot nestled between the Boch Center, a hotel, and Tufts Medical Center. The project, once completed, figures to bring desperately needed affordable housing to Chinatown, a neighborhood where both housing and land are scarce.

That only hints at its importance to a community facing encroachment by development on all sides and running out of places where its predominantly immigrant, low-income residents can live.

“In Chinatown, where we really have very, very little land left, we want to do as much as possible,” said Angie Liou, executive director of Asian Community Development. “This is really a rare opportunity.”

The piece of land to be developed, known as Parcel 12, is owned by the Boston Planning and Development Agency, and the Chinatown community has eyed it for years as a spot that should be put to much better use. Plans and promises for the parcel have come and gone since at least the 1980s, Liou said. But community groups don’t have the cash to pull off major development projects, and the big developers were otherwise occupied.

Then something unexpected happened. As part of Millennium’s deal to redevelop the decrepit Winthrop Square Garage into a major office and condo tower, the company was required to pay for 1110,000 square feet of affordable housing. Under city policy, developers can — and often do — satisfy their obligation by simply writing a check to the BPDA. But the developers didn’t want to just write a check.

“We’re kind of sick of just paying into the process,” said Joe Larkin, principal of Millennium Partners Boston. “When we looked at all the millions of dollars we’ve paid in the past . . . we’ve become such an appreciator of the city that we — myself and our partners and investors — really wanted to do something more.”

“Something more” quickly became forming a partnership with the Asian CDC and finally making the long-delayed plans to build some affordable housing on Parcel 12 a reality.

“Angie literally identified the site for us,” Larkin said. “We thought in Chinatown we could do something really cool.”

For Millennium — whose projects include the Ritz-Carlton on Avery Street and the Millennium Tower in Downtown Crossing — affordable housing was a new and significantly different arena. Liou is helping to guide the rich folks through the maze of regulations and approvals, while hoping to secure more city and state funding in the process.

The current timetable calls for breaking ground in early 2021, with a two-year construction timetable. As for who will live there, the city will eventually hold a lottery to determine who gets the units. Liou says 4,000 applicants are typical for 100 units of affordable housing — a testament to the need, in Chinatown, and beyond.

Those applicants will face long odds — a realization that gave Larkin pause.

“To tell you how this relationship works, the first thing I thought of was how 100 families are going to have their lives changed. And Angie said me, ‘Yeah, and there’s going to be 3,900 families that are going to be disappointed.’ That was what hit me the hardest, how huge the need is.”

The problem of housing isn’t going to be solved by one project, of course. But any solution will require collaboration and creativity — and this unusual partnership has plenty of both. Two organizations separated by a few blocks — and untold millions in resources — have found common ground. And they’re building on it.

SourceThe Boston Globe

Way Finders secures $23M in final funding for Library Commons in Holyoke; groundbreaking Oct. 24

Way Finders will break ground Oct. 24 on Library Commons — 38 affordable, multifamily housing units in the Chestnut Street neighborhood.

Way Finders, a nonprofit developer formerly known as HAP Housing, secured $23 million from the Massachusetts Housing Investment Corporation (MHIC), the final funding needed for the project.

“We are pleased to work with our long-time partner Way Finders to build on the progress made with revitalization the Holyoke Public Library,” stated Joe Flatley, MHIC’s president. “We are confident that new housing opportunities with access to jobs, education and entertainment, will further stabilize the neighborhood and improve the lives of its residents.”

Way Finders plans to rehab two vacant historic buildings near the Holyoke Public Library and demolish a crumbling structure and replace it with a new complex.

“After much planning and investment from our staff, partners, and the community, Way Finders is thrilled to be bringing these beautiful buildings back to life and to be contributing to the continued revitalization of downtown Holyoke,” Peter Gagliardi, Way Finders president and CEO, said in statement.

Besides the $23 million from MHIC, Way Finders garnered $10.4 million in low-incoming housing tax credits, a $12.6 million construction loan, $550,000 from the Massachusetts Housing Partnership and $4.8 million from the Massachusetts Department of Housing and Community Development.

The City of Holyoke contributed $400,000 and the Community Economic Development Assistance Corporation $1 million in predevelopment and acquisition costs.

According to the statement, plans also include 940 square-feet of retail space, a property management office, laundry room, playscape, community rooms, and art gallery. Way Finders will partner with The Care Center’s Roque House for support services and set aside up to ten apartments.

The groundbreaking ceremony is scheduled for Oct. 24, 1 to 3 p.m., at the Holyoke Public Library.

Way Finders will conduct a tour of the parcels following the ceremony.

SourceMassLive

Sisters of Providence celebrate grand opening of Hillside Residence

The grand opening of Hillside Residence in West Springfield took place on Friday, Sept. 27 at 10:30 a.m. at the former location of Brightside.

This innovative, health care-integrated housing model offers 36 rental units for low income elders. It was a development completed by the Sisters of Providence. Sister Kathleen Popko, president of the Sisters of Providence, said the project began more than 10 years ago with the closing of Brightside for Families and Children. She said the Sisters of Providence were looking to the future and how they could use the 27-acre campus most effectively to serve the community.

“So it is an exciting day for us and it has been a tremendous amount of work. Here is a way to demonstrate that collaboration and working together can lead to wonderful results that benefit the common good of the community,” said Sister Popko.

The Sisters of Providence had the 77,000-square-foot De Paul Center, which was the administration building for Brightside and now contains several health-related groups including Mercy Life. Mercy Life, a Medicare/Medicaid program will be providing the health services for occupants of Hillside Residence. Sister Popko said she was pleased to celebrate the grand opening of Hillside Residence on the feast of St. Vincent De Paul, the patron saint of the Sisters of Providence.

“St. Vincent (de Paul) was noted for his care of the poor, the orphan, the neglected, the people who are on the streets, and we live out that charism. I feel that this project reflects that commitment to those who are most in need,” said Sister Popko.

Hillside Residence received funding and support from both public and private entities and was awarded state and federal funds from the Housing Stabilization Fund, the National Housing Trust Fund, Housing Innovation Fund Program and Massachusetts Rental Voucher Program project-based subsidies. In addition, grants from the Harry and Jeanette Weinberg Foundation and West Springfield’s Community Preservation Committee contributed to the funding for the $9.2 million project.

West Springfield Mayor William Reichelt joined other local and state leaders at the grand opening. Mayor Reichelt first became involved with the project in 2012 when he was a member of the Community Preservation Committee. He said the Sisters of Providence, especially Sister Popko, have been tenacious in tracking down funds to make the development happen.

“West Springfield is becoming an age-friendly community. That is our goal, to keep our residents here. If they do need services and are not able to stay in their home this is a great option for them. The sisters run a great program anyway, but to incorporate this as well is a huge asset for West Springfield,” Mayor Reichelt said.

“Affordable care, especially in 2019, it is tough, housing is tough. So, to have that care and housing all in one piece and be in West Springfield, it’s a huge bonus. We are very excited,” he said.

Mercy Life is a PACE program (Program for All-inclusive Care for the Elderly). Hillside Residence will over time add to research on the effectiveness of the health care offered to occupants of this community. This data will assist housing developers and healthcare providers to understand the benefits of the PACE integrated housing model.

Major donors and individuals involved with Hillside Residence were in attendance at the grand opening. Also, many elected officials and dignitaries from the Department of Housing and Community Development, the Massachusetts Office of Elder Affairs and the Community Economic Development Assistance Corporation offered comments during the event.

“That is a true, true, true gift to somebody aging with chronic illness. Hillside Residence also creates an environment that will provide the essential elements of home, familiarity, comfort, and a sense of belonging, where independence is valued and changing needs are met. Bravo for the respite units that you have here,” said Elizabeth Chen, the state secretary of the Executive Office of Elder Affairs.

At the conclusion of the ceremony, Sister Popko asked all of the Sisters of Providence present to stand for recognition. Springfield Bishop Mitchell T. Rozanski blessed the Hillside Residence building with holy water and offered a prayer. Everyone was then asked to go inside as Sister Popko was surprised with the unveiling of her portrait and a plaque dedicating the building in her honor. A reception later took place while tours were offered of the units and community rooms.

A video version of this story will be featured on an upcoming edition of “Real to Reel” which airs Saturday evenings at 7 p.m. on WWLP-22 NEWS and in the Berkshires Sunday mornings at 5:30 on Albany’s Fox 23, WXXA.

SourceiObserve Catholic Communications News

Affordable Housing Finance Magazine 2019 Readers’ Choice Award: Historic Rehab Category – The Union at 48 Boylston

We are excited to announce that The Union at 48 Boylston was chosen as the historic rehab winner in Affordable Housing Finance magazines 2019 Readers’ Choice Awards!

The Union at 48 Boylston was the result of a partnership between St. Francis House, the largest multi-service center for adults experiencing homelessness in the City of Boston, and the Planning Office for Urban Affairs (POUA).

Purchased in 2016, 48 Boylston has since been completely redeveloped by St. Francis House and POUA to provide much needed affordable housing in the community, creating 46 units of affordable housing. The completed development includes units to serve people who have experienced homelessness and others with very modest incomes. Twenty-six of the units are reserved for individuals earning less than 30% of the area median income.

Man stands in his kitchen in The Union at 48 looking happy and comfortable
Stephen has been a happy resident of The Union since May 2019. “Feeling at home… there’s just nothing like it. I have my own couch, I have my own bed. I get to put art on my walls. It doesn’t get any better than this.”

A designated Boston Landmark listed on the National Register of Historic Places, the building was constructed in 1875 and was originally operated by the Boston Young Men’s Christian Union (BYMCU) for more than 150 years to provide a variety of social, recreational and service programs. In keeping with the building’s history, the 48 Boylston development will also provide benefits beyond housing including new employment training opportunities through a partnership with The Urban Hound, a dog day care facility, and the ability to establish a brand-new recovery support center at St. Francis House.

Taken together, this building project has not only created critical affordable housing, but has opened the doors for St. Francis House to explore and implement new employment training and expand our social services for the vulnerable populations of Boston.

Read more about the AHF 2019 Readers Choice Awards: https://www.housingfinance.com/developments/ahf-announces-2019-readers-choice-award-winners_o

St. Francis House is excited to attend the AHF Live: 2019 Affordable Housing Developers Summit and award ceremony November 18 – 20 at the Hyatt Regency in Chicago.

…

Developers: Planning Office for Urban Affairs and St. Francis House

Architect: The Architectural Team

General Contractor: Gilbane Construction

Major Funders: Bank of America Merrill Lynch; commonwealth of Massachusetts (Department of Housing and Community Development, Community Economic Development Assistance Corp., and MassHousing); city of Boston (Department of Neighborhood Development and Neighborhood Housing Trust); Massachusetts Historical Commission; National Park Service; Federal Home Loan Bank of Boston; Eastern Bank

SourceSt. Francis House

Walker Park Apartments and Delphine’s Courtyard Opened

Mayor Martin J. Walsh today joined the community development agency Urban Edge, elected officials, community leaders and neighbors to celebrate the opening of the Walker Park Apartments and Delphine’s Courtyard, consisting of 49 units of affordable family housing and a pocket park in Egleston Square. The City of Boston’s Department of Neighborhood Development and the Community Preservation Fund provided more than $2.8 million in total for the new homes and courtyard.

“Today we celebrate the creation of 49 new affordable homes, a crucial step forward in our goal of preserving our neighborhoods,” said Mayor Walsh. “Along with our partners, the City of Boston is making big investments in Egleston Square, increasing opportunity for families and helping us keep housing affordable and accessible. I want to thank Urban Edge and everyone involved in this project for their work in making these new affordable homes possible.”

Mayor Walsh with members of the Walker family.

The Walker Park Apartments redeveloped three formerly vacant or underutilized parcels adjacent to the Egleston Square Branch of the Boston Public Library and in the Egleston Square Main Street District. The development is named for longtime community activist Delphine Walker, whose home stood on one of the development sites. All of the 49 new apartments have been rented to households who earn at or below 60 percent of the Area Median Income (AMI), including eight apartments reserved for families earning 30 percent of AMI or below.

“Urban Edge is proud that we have led investment in Egleston Square and is doing so in a way that honors the neighborhood’s past while providing more opportunities for quality housing for members of the community,” said Natacha Dunker, president of Urban Edge’s Board of Directors. “We are so grateful to Mayor Walsh, the Department of Neighborhood Development, and all of our funders for their support of this important project.”

“Today, we celebrate another victory for our city and community: new construction of 49 income-restricted units and 34 off-street parking spots,” said State Representative Liz Malia (D-11th Suffolk). “This is exactly the type of housing we need to build in Boston and specifically in the Egleston Square Neighborhood. The face of our community depends on it, and I’m grateful to Urban Edge and the City for having the long-term vision to realize this project and others like it.”

The Walker Park Apartments now boast 13 one-bedroom, 28 two-bedroom, and eight three-bedroom family apartments, an elevator for accessibility, on-site laundry facilities, on-site parking, and Delphine’s Courtyard funded by the Community Preservation Fund. In accordance with state guidelines, funds generated from the Community Preservation Act fund for affordable housing, historic preservation, and parks and open space projects.

“My mother bought her home in Roxbury at a time when many people were not making investments in this community, and she worked with others to strengthen Egleston Square as a neighborhood,” said Pamela Walker, daughter of Delphine Walker. “We are so grateful that Urban Edge has honored her by naming both the apartment complex and the courtyard after her.”

“Since I moved to Walker Park, my life feels different. I can see how my children always have a smile on their faces,” said Cassandra Amazan, a resident of Walker Park Apartments. “It was a great feeling seeing them choosing their own room and making plans of how they would decorate them. It is not only about having or walking in to my own apartment now, it’s about feeling accomplished in many ways and that this is opening new doors for me and my family.”

In accordance with the City of Boston’s Green Affordable Housing Program, Walker Park Apartments will utilize a high-efficiency heating system as well as Energy Star rated appliances. The development employs environmentally friendly design features that meets the U.S. Green Building Council LEED Homes Silver certifiable standard. The development also met the U.S. Environmental Protection Agency’s Energy Star standards. The development team is made up of Urban Edge, Prellwitz Chilinski Associates, and NEI General Contracting, Inc.

The Walker Park Apartments have been made possible by funding from the City of Boston, and State and Federal Low Income Housing Tax Credits from the Commonwealth’s Department of Housing and Community Development (DHCD). Financing team members also included Bank of America Merrill Lynch, Brookline Bank, the Community Economic Development Assistance Corporation, MassDevelopment, MassHousing, Massachusetts Housing Investment Corporation, Massachusetts Housing Partnership, US Bank Corporation, and the US Department of Housing and Urban Development.

Walker Park Apartments strongly aligns with the City’s housing goals outlined in Housing a Changing City: Boston 2030. Mayor Walsh recently increased the City’s overall housing targets from 53,000 to 69,000 new units by 2030 to meet Boston’s population growth. These updated housing goals build on Mayor Walsh’s commitment to increasing access to home ownership, preventing displacement and promoting fair and equitable housing access.

Since the release of the original Housing a Changing City: Boston 2030 plan in 2014, income-restricted housing stock, designed to increase affordable housing, has grown along with overall new production: nearly 20 percent of housing units are income restricted, and 25 percent of rental units are income restricted. In total, after creating an additional 15,820 units of income-restricted housing, Boston will have nearly 70,000 units of income-restricted housing by 2030.

Mayor Walsh’s 2019 housing security legislative package focuses on expanding upon the work that Boston has done to address the region’s affordable housing crisis and displacement risks for tenants by proposing new and strengthening current tools to leverage Boston’s prosperity and create sustainable wealth opportunities that make Boston a more inclusive and equitable city. The housing security bills proposed seek to help existing tenants, particularly the elderly, remain in their homes, and creates additional funding for affordable housing.

For more information on the City’s work to create more housing, please visit: Housing A Changing City: Boston 2030.

###Delp

SourceMayor's Office

Mayor Walsh and residents celebrate preservation of affordable housing in Lower Roxbury

Building on his commitment to preserve affordable housing in Boston, Mayor Martin J. Walsh today joined the Fenway Community Development Corporation, their development partner Schochet Companies and Lower Roxbury residents to celebrate the acquisition and preservation of 97 affordable housing units at the Newcastle/Saranac Apartments.

“Preserving Boston’s affordability is key to ensuring everyone who wants to live here can afford to do so, and I’m particularly pleased our commitment to the Newcastle/Saranac Apartments will both preserve and renovate 97 units of our existing affordable housing stock,” said Mayor Walsh. “I want to thank the Fenway CDC and our partners for working with us to make sure families can stay in their homes. Together, we’re protecting long-time residents from displacement, and we’re helping maintain the character of this community.”

The preservation of the units is made possible through Inclusionary Development Policy (IDP) off-site unit contributions by three housing development projects: 60 Kilmarnock Street, 1000 Boylston Street, and 212 Stuart Street, negotiated by the Boston Planning & Development Agency (BPDA). IDP requires that market-rate housing developments with 10 or more units and need zoning relief contribute to income-restricted housing.

“Newcastle/Saranac has been my home for years, I raised my family here and I love this neighborhood,” said Patricia Rogers, a 30-year resident of Newcastle/Saranac Apartments. “This building is in a convenient location, but the best part of living here is my neighbors. We look out for each other. I want to thank the Mayor, Fenway CDC and all of the people here today for helping us stay in our homes.”

The City’s Department of Neighborhood Development (DND) worked with the Fenway CDC to acquire the building and assist in the plan for the renovation of its 97 apartments, located on Columbus Avenue and Northampton Street in Lower Roxbury. Newcastle Saranac’s long-term affordability restrictions were set to expire as the former owners paid off the mortgage they’d received using the MassHousing 13A program. If the building converted to market-rate, all of the tenants were likely to be displaced from homes they had lived in for decades. With help from City of Boston, Fenway CDC was able to purchase the building from its owners, protecting existing tenants from displacement, and preserving the long-term affordability of this mixed-income development.

“You know the old saying ‘It takes a village?’ Well, in order to save 97 units of affordable housing at Newcastle/Saranac, it took the City of Boston, the Commonwealth, and numerous quasi-public entities, banks and investors to rescue these apartments,” said Leah Camhi, executive director of the Fenway CDC. “The families at Newcastle/Saranac are now guaranteed affordable homes for years to come due to all their herculean efforts.”

The Newcastle/Saranac acquisition and preservation was made possible with the significant support from the City’s Department of Neighborhood Development, the Boston Planning & Development Agency, the State’s Department of Housing and Community Development, MassDevelopment, MassHousing, Massachusetts Housing Investment Corp and the Community Economic Development Assistance Corporation.

Today’s celebration builds on the release of Housing a Changing City: Boston 2030, Boston’s latest quarterly housing report, and the City’s overall housing goal of 69,000 new units by 2030, to meet Boston’s faster than expected population growth. These 69,000 new units include 15,820 new income-restricted units, which would elevate Boston’s income-restricted inventory total to 70,000, or one in five of all housing units. In addition, the plan set a goal to preserve 85 percent of Boston’s most at-risk privately-owned affordable units, and to purchase 1,000 units of rental housing stock from the speculative market and income-restrict them for perpetuity.

Mayor Walsh’s 2019 housing security legislative package focuses on expanding upon the work that Boston has done to address the region’s affordable housing crisis and displacement risks for tenants. The housing security bills proposed seek to help existing tenants, particularly older adults, remain in their homes, and creates additional funding for affordable housing.

SourceSampan

‘Herculean’ Efforts Preserve 97 Affordable Units in Lower Roxbury

A partnership led by the Fenway Community Development Corp. will renovate and preserve affordability for 97 housing units in Lower Roxbury.

The Fenway CDC and development partner Schochet Cos. of Braintree acquired the Newcastle/Saranac Apartments at Columbus Avenue and Northampton Street in January. Affordability restrictions were set to expire as the former owners paid off the mortgage they received from MassHousing’s 13A program, threatening displacement for residents of 97 units that could have been converted into market-rate housing.

“It took the city of Boston, the commonwealth, and numerous quasi-public entities, banks and investors to rescue these apartments,” Leah Camhi, executive director of the Fenway CDC, said at a groundbreaking ceremony Wednesday. “The families at Newcastle/Saranac are now guaranteed affordable homes for years to come due to all their herculean efforts.”

Funding was provided through Boston’s inclusionary development policy off-site contributions from three projects: 1000 Boylston St., 60 Kilmarnock St. and 212 Stuart St. The policy requires developers who don’t include income-restricted units on-site to make cash payments to support affordable housing in the surrounding area.

Additional funding came from the city’s Department of Neighborhood Development, the Boston Planning & Development Agency, Massachusetts Department of Housing and Community Development, MassDevelopment, MassHousing, Massachusetts Housing Investment Corp. and the Community Economic Development Assistance Corporation.

Members of the project team include The Architectural Team, attorneys Klein Hornig and Holland & Knight, Keith Construction, development consultant David Levy and Community Square Assoc.

SourceBanker & Tradesman

Affordable Housing in Lower Roxbury Preserved

Celebration of affordable housing in Lower Roxbury

“Newcastle/Saranac has been my home for years, I raised my family here and I love this neighborhood,” said Patricia Rogers, a 30-year resident of Newcastle/Saranac Apartments. “This building is in at a convenient location, but the best part of living here is my neighbors. We look out for each other. I want to thank the Mayor, Fenway CDC and all of the people here today for helping us stay in our homes.”