Maloney Properties Acquires 7 Worcester Multi-Family Homes
Wellesley-based, Maloney Properties, has acquired 7 multi-family homes in the Union Hill section of Worcester for $1.95 million. The properties all sit within a block of one another and consist of 9 bedrooms, 3 bathroom tri-plex homes.
Post-acquisition plans have not yet been released.
51 affordable condominiums completed in Chinatown
A ribbon cutting ceremony was held Tuesday (November 28th) for 88 Hudson Street, a 51-unit affordable condominium building in Chinatown that is the second and final phase of the One Greenway development. 88 Hudson Street features residences ranging from one to three bedrooms intended for working families. The residences are priced ranging from less than $200,000 to $235,000, with four homes designated for households earning 60% or less of area median income (AMI), 42 for households earning 80% of less of AMI and five for households earning 100% or less of AMI.
88 Hudson Street, along with the first phase of One Greenway which was completed in 2015, will help ensure that working families can continue to live in Boston’s downtown area, where rents and condominium prices are rapidly rising. “We want to ensure residents who have built their lives in Chinatown can continue to live here,” said Mayor Marty Walsh at the ribbon cutting. “I'm proud of the work the City and our partners have done to create these affordable homes for working families in Chinatown.”
88 Hudson Street cost over $20.5 million to construct and was made possible by funding from the City of Boston, the State of Massachusetts, Eastern Bank and the Chinese Economic Development Council. The first phase of One Greenway provided 312 apartments, 95 of which are affordable, 3,300 square feet of retail space, 5,000 square feet of community commercial space, 135 parking spaces and a new public park. One Greenway developers Asian Community Development Corporation and New Boston Fund sold the first phase’s 217 market-rate apartments sold this month for $144.5 million, nearly $666,000 per apartment, to Prudential. The following are photographs of 88 Hudson Street:
Weatherproofing complete at 88 Hudson workforce housing in Chinatown
The weather and fireproofing barrier of 88 Hudson Street, a new 51-unit workforce housing building in Chinatown, has been fully installed, and all windows are in place. A brick facade has been installed along the building’s first two floors facing Hudson Street, and blue, white and silver exterior finish panels will soon be installed on upper floors and at the building’s rear. Interior finishing of 88 Hudson Street’s residences and common spaces is also underway. 88 Hudson Street will feature 51 condominiums including one-, two- and three-bedrooms that will be sold to working families earning 60 to 100% of area median income (AMI). 88 Hudson Street is expected to open by the end of this year. The following is a photograph of 88 Hudson Street:
88 Hudson Street revitalizes Chinatown with new workforce housing
88 Hudson Street, a new 51-unit workforce housing building in Chinatown, will revitalize and restore a section of Chinatown demolished for 1950s and 1960s highway projects. Hudson Street was originally home to many immigrant families until construction of Interstate 93, during which several homes were demolished. “I’m proud to be working with [developer Asian Community Development Corporation (ACDC)] to create affordable housing for new immigrant families on the site where I have fond memories of growing up in a vibrant, immigrant community over 50 years ago,” says ACDC board president Paul W. Lee in an official statement. 88 Hudson Street is now in the superstructure construction phase and has risen two stories, with the building's elevator cores topped off. Expected completion of 88 Hudson Street is in late 2017. The following are photographs of 88 Hudson Street, courtesy ACDC:
http: Foundation construction underway at 88 Hudson Street
Wooden structural piles have been driven across the 88 Hudson Street project site. Concrete is being poured atop pile caps to construct the new building's foundation. No vehicle parking will be constructed at 88 Hudson Street. 88 Hudson Street will contain 51 affordable homeownership condominiums located steps to Downtown Boston and South Station and across from recently competed One Greenway, a 325-unit apartment tower with ground-floor retail. The following are photographs of 88 Hudson Street:
The following is a photograph of One Greenway: