Multi Residential

MassHousing Finances $45M Development

Photo by Lorenzo Pitts

Boston – MassHousing has closed on $45.7 million in financing to the Jamaica Plain Neighborhood Development Corporation (JPNDC) for the acquisition, preservation, and renovation of a 201-unit scattered site affordable housing portfolio in Roxbury and Dorchester.

JPNDC utilized MassHousing financing to purchase the portfolio of six affordable housing communities, located on 21 scattered sites in Boston, from the estate of Lorenzo Pitts.

The general contractor will be Bilt-Rite Construction. The architect is The Architectural Team, and the management agent is Peabody Properties.

The housing portfolio includes the 131-unit Lawrenceville Apartments, the three-unit Infill I, the three-unit Infill II, the nine-unit Crawford House, the six-unit Thane Street Apartments, and the 49-unit Gardner Apartments, where the Section 13A affordability restrictions expired in March. The transaction will preserve the affordability of the former Section 13A units at the Gardner Apartments.

Of the 201 units in the Pitts portfolio, 175 apartments are affordable to households earning at or below 60% of the area median income (AMI), and 26 apartments are affordable to households earning at or below 80% of AMI, that for Boston is $107,800 for a family of four.

Overall, there are there 38 one-bedroom apartments, 87 two-bedroom apartments, 53 three-bedroom apartments, 18 four-bedroom apartments, two five-bedroom apartments, and three six-bedroom apartments.

Among the renovations planned for the properties are masonry repairs on all building façades, roof and window replacement at selected buildings, accessibility upgrades, kitchen and bathroom upgrades at selected units, and upgrades to life safety, mechanical, electrical, and plumbing systems.

 

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