Newton, MA – MassHousing has closed on a total of $23.5 million in affordable housing financing to the nonprofit, 2Life Communities, for the expansion of the Golda Meir House in Newton.
MassHousing provided 2Life Communities with an $8.1 million tax-exempt construction and permanent loan and $15.4 million in tax credit equity bridge financing. The financing will allow 2Life Communities to construct 68 new rental homes for seniors, including deeply affordable units for very low-income households.
The project will expand the existing 199-unit complex in a new 7-story building addition and a new 5-story building addition that will both connect to the existing main building. There will be 57 one-bedroom apartments and 11 two-bedroom apartments. Of the new apartments, 45 will be supported for lower-income residents with federal project based rental subsidies, five units will be restricted to households earning at or below 60% of the Area Median Income (AMI), 10 units will be restricted to households earning up to 100% of AMI, and seven units will be rented at market rates. One unit will be occupied by graduate students who wish to share their learning with 2Life residents.
The expansion was made possible by 2Life Communities being awarded development rights to a parcel of adjacent land owned by the City of Newton. The Golda Meir campus is located near the Woodland MBTA Green Line station, a hospital and medical facilities, and houses of worship.
The general contractor on the project will be Colantonio Inc. The architect is Prellwitz Chilinski Associates, and the management agent is 2Life Communities. Construction is expected to be completed in the spring of 2023.