Boston – MassDevelopment has issued a $53,551,000 tax-exempt bond on behalf of Washington Pine LLC, an affiliate of The Community Builders, Inc. (TCB) and Pine Street Inn, which will use bond proceeds to construct a five-story, 144,000sf mixed-use building at 3368 Washington St. in Boston’s Jamaica Plain neighborhood.
The building will feature 202 housing units and ground-floor offices for Pine Street Inn. The residential portion of the property will include 140 units of supportive housing units for individuals moving out of homelessness supported by Pine Street Inn and 62 affordable apartments for families.
3368 Washington St. will include amenities for residents such as on-site management, 24/7/365 supportive services staff, 24/7 front-desk security, spaces for resident gatherings and the delivery of supportive services, two outdoor landscaped plazas, a multi-purpose room, fitness rooms, laundry rooms on residential floors, a parking garage with electric vehicle charging stations, and bicycle repair and storage. Additionally, a 600sf community room will be provided that can be reserved for use by the public. The project includes streetscape improvements featuring wider sidewalks, new street trees, and an improved pedestrian experience.
TCB will serve as the management agent for all residential units, with Pine Street Inn providing long-term supportive services to all formerly homeless residents. Construction of the building began January 2022 and is expected to be complete by late 2023. Barings LLC purchased the bond.
