WASHINGTON, D.C. – February 18, 2013 – (RealEstateRama) — Mayor Thomas M. Menino and Department of Neighborhood Development (DND) Director Sheila Dillon announced today that more than $8.4 million in affordable housing resources and tax credit funding from the Commonwealth of Massachusetts’ Office of Housing and Economic Development will jumpstart three Boston affordable housing developments: Jackson Commons in Jamaica Plain, Roxbury Crossing Senior Housing in Roxbury, and Phase One of the redevelopment of St. Kevin’s in Dorchester.
Together, these three developments will produce 110 units of affordable rental housing. Approximately 20 of these units will be reserved for very low-income families and households transitioning from homelessness.
“It is critical that that we use every resource available to build more rental housing for working families in our city,” said Mayor Menino. “Creating affordable rental housing not only provides housing for families, but it also aids Boston’s economic recovery. We are extremely excited to get shovels in the ground and new jobs in the neighborhoods.”
These state resources, including more than $1.5 million in Low Income Housing Tax Credit Assistance Program (LIHTC) funding, will leverage almost $47 million in private development funds. These state resources were created to aid in economic recovery, helping local housing and finance agencies fund affordable rental housing projects while simultaneously creating jobs.
The three developments will support an estimated 284 new construction jobs in Boston. Additionally, the Jackson Commons development includes 12,000 square feet of commercial and community space, to be called the Neighborhood Learning Center. The space will include offices, community based classrooms, and 2,000 square feet of ground floor retail.
In order for these projects to qualify for DND funding, the developments will also need to meet LEED Silver Standard and Energy Star Standards. This means that, to ensure energy efficiency, each development will utilize green building technology, including energy saving appliances, plumbing fixtures, heating systems, windows and insulation.
Contact:
Lisa Pollack
lpollack.dnd (at) cityofboston (dot) gov
