Boston – The Secretary of Housing for Massachusetts, Edward Augustus, recently joined Oxbow Urban LLC, DVM Housing Partners (formerly DVM Consulting), local elected officials, and Roxbury residents for the grand opening of Saige on Fountain.
The over $21.9 million, transit-oriented homeownership development has created 40 new mixed-income affordable homes for first time homebuyers in Roxbury. The development of the new homes is part of the mayor’s initiative to create homeownership opportunities on vacant underutilized land, preferably near existing transit hubs.
Kevin Maguire of Oxbow Urban, in collaboration with DVM Housing Partners and Our Village Initiative, developed the new affordable homes as part of this administration’s commitment to creating more homeownership in Boston. The new affordable homes are being sold to first-time buyers in Boston making 55% of the area median income and above. The development is the result of a public/private collaboration between the neighborhood, the City of Boston, MassHousing and a private developer. Saige on Fountain utilized vacant land in addition to strong financial support from the City of Boston and MassHousing.
The long vacant parcel of land, cleared as part of the Washington Park Urban Renewal efforts over 50 years ago, was previously owned by the Fountain Hill Square Condominium Association (FHSCA). In searching for a buyer, FHSCA was determined to sell to a buyer that committed to building ownership housing in the spirit of the Urban Renewal vision for the neighborhood. Oxbow Urban, having worked before with the City of Boston as part of the Neighborhood Homes Initiative, purchased the land and worked closely with the neighborhood and the Mayor’s Office of Housing to make the vision a reality. Throughout the development planning, the Tommy’s Rock Neighborhood Association and residents from the Fountain Hill Square Condominium Association worked to agree on a plan that met neighborhood priorities while maintaining financial feasibility. The Mayor’s Office of Housing was an active participant in the early discussions between the neighborhood and Oxbow Urban.
DVM Housing Partners worked with Maguire and Oxbow Urban to put together a top-tier team to bring Saige to life. From design to delivery – the women-led “Women of Saige” team included 10+ local women leaders that made this project a reality. Each drew upon their individual expertise to ensure Saige on Fountain represented the neighborhood and delivered a first-class homeownership experience.
Saige on Fountain is the first all-electric multi-unit ownership development in the city. The development will meet the U.S. Green Building Council LEED Homes Gold certifiable standard while also meeting the U.S. Environmental Protection Agency’s Energy Star standards.
The development of these new homes has been made possible in part by more than $5,880,000 from the City of Boston’s Department of Neighborhood Development, $1.5 million from the Community Preservation Act Funding, and $5 million from MassHousing’s CommonWealth Builder Program. The Life Initiative and Cambridge Trust Company are providing the debt for the development.