Chestnut Hill, MA – On July 13, Chestnut Hill Realty held a ribbon cutting and grand opening ceremony of the first phase of 175 units created under Chapter 40B.
MassDevelopment was the subsidizing agency for the development and provided the tax-exempt and taxable bonds to help finance the new housing community. The project, known as Residences of South Brookline at Hancock Village, are the first brand-new rental townhomes built at Hancock Village since the 1940s.
The grand opening was held at Hancock Village in Brookline, led by Chestnut Hill Realty founder and CEO, Ed Zuker. The ceremony was attended by Chestnut Hill Realty real estate executives as well as local and state officials including Dan Rivera, president and CEO of MassDevelopment, and Mel Kleckner, Brookline town administrator.
The new three-bedroom, two-and-a -half bath units provide central AC, a utility room with washer and dryer, deluxe closet storage systems, quartz countertops, and a master bedroom suite with a custom closet and private bath. The units also include amenities such as a breakfast bar, stainless-steel GE Energy Star appliances, custom maple kitchen cabinets, recessed lighting, crown molding, hardwood floors, and an open floor plan.
Chapter 40B, the Commonwealth’s regional planning law, promotes responsible housing growth that meaningfully accommodates lower-income households. The affordable apartments at this development are available to families who make less than 50% of the area median income. The law balances the regional need for affordable housing development with local public health, public safety, design, and environmental needs.
In honor of the occasion, a donation of $25,000 was made to the Brookline Teen Center.