BOSTON — The City of Boston and Mayor Michelle Wu have funded an undisclosed amount of funding for Columbia Crossing in the Dorchester neighborhood. The proposed development plans to transform the historic Dorchester Savings Bank building and adjacent parking lot into an approximately 86,000-square-foot residential and commercial complex. The project will be developed by the Preservation of Affordable Housing (POAH) in partnership with the Dorchester Bay Economic Development Corporation (DBEDC). Plans include the adaptive reuse of the bank building into affordable rental housing and the construction of a six-story building at …
LYNN, MASS. — MassHousing has provided $12.4 million in affordable housing financing to St. Mary’s Plaza Inc. for 99-unit St. Mary’s Plaza in Lynn, a northern suburb of Boston. The transaction will extend affordability protections for at least 25 years, as well as involve approximately $1.4 million in property improvements. As part of the transaction, St. Mary’s Plaza Inc. has executed a new 20-year HUD Section 8 Housing Assistance Payments contract for 98 of the 99 apartments at St. Mary’s Plaza. The new contract will include five years remaining on …
BOSTON — New York City-based real estate investment company Tishman Speyer has acquired The Eddy, a 259-unit apartment complex in East Boston, for $135 million. The 17-story, waterfront property was originally built in 2016 and offers studio, one- and two-bedroom units. Amenities include an outdoor deck with a pool, lounge with a chef’s kitchen and pool table, rooftop terrace and a fitness center. Seafood restaurant ReelHouse occupies the retail space at the tower’s base through a long-term lease. The Eddy is located approximately three miles from the Downtown and Seaport …
BRIGHTON, MASS. — Trammell Crow Company (TCC), in partnership with affordable housing non-profit developer The Community Builders (TCB), has announced plans for the redevelopment of seven acres along Soldiers Field Road in Brighton. The first phase of redevelopment will occur on the sites located at 1600 Solders Field Road and 15 Soldiers Field Place. The construction of the first residential building will be delivered as part of phase one, providing 100 units of affordable housing, with approximately 65 percent of the units designed with two- and three-bedroom layouts. The second …
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