UnitedIlluminating

Mattapan Affordable Housing Development Financed

| February 6, 2019

Olmsted Green

Boston – MassHousing is providing $25 million in affordable housing financing to Lena New Boston to support the latest phase of rental housing development at Olmsted Green in Mattapan.

With the MassHousing financing, Lena New Boston, a partnership between Lena Park Community Development Corporation and the New Boston Fund, will advance the latest phase of Olmsted Green, and construct 100 new units of mixed-income rental housing, including 40 new workforce housing units.

When complete, Olmsted Green will create more than 500 mixed-income apartments and condominiums at the site of the former Boston State Hospital.

The contractor is NEI General Contracting, the architect is Icon Architecture and the management agent is WinnCompanies.

To date, Lena New Boston has successfully completed the development of 270 new apartments and townhomes, of which 232 are affordable. The construction of the 100 new rental units is the fourth phase of rental housing development at Olmsted Green.

The new rental housing at Olmsted Green is also being supported by $2.9 million in affordable housing funds from the Department of Housing and Community Development, $1 million from the Massachusetts Department of Mental Health, $1 million from the Affordable Housing Trust Fund, $3 million from the city of Boston, a $1.2 million deferred developer fee and a $600,000 seller note. The project is also benefitting from a $3 million MassWorks public infrastructure grant.

Tags: , ,

Category: All, Multi Residential

For more info on how to submit content or advertise with High-Profile, connect with us here!

Would you like more info on how to submit content or advertise with High-Profile?

 

Connect with us here!