Beacon Communities
Update
03/17/21
Boston Secures $34M for Development of 841 Affordable Units
Mayor Martin J. Walsh announced more than $34 million in new and recommended funding from the Department of Neighborhood Development, the Neighborhood Housing Trust (NHT) and the Community Preservation Fund to create and preserve 841 income-restricted units of housing in Allston, Back Bay, Dorchester, Fenway, Hyde Park, Jamaica Plain, Mattapan, Roxbury, and the South End.
In supporting the city’s work to end homelessness, 198 of the units funded will create permanent housing opportunities for homeless individuals and families experiencing homelessness. This year’s awards for new construction will all use zero-emissions design to model Mayor Walsh’s Carbon Free Boston guidelines.
This new funding will create 608 new income-restricted housing units and preserve 233 units of existing income-restricted housing stock. The new units are a combination of homeownership and rental opportunities and include housing developments with units set aside for formerly homeless households, adults in substance use recovery, and seniors.
Among the recipients is 140 Clarendon Street in Back Bay which was recently approved for development. Beacon Communities, the developer, received $3,000,000 for acquisition of the historic Back Bay hotel.
“Beacon Communities is proud to be working with the City to address the affordable housing crisis and the need to end homelessness throughout Boston,” said Dara Kovel, Chief Executive Officer at Beacon Communities. “Our partnership with Pine Street Inn at 140 Clarendon is a big step in this direction and will ensure housing options and nonprofit commercial space in the Back Bay for decades to come.”
Also included in funding is a 23-unit development at 37 Wales Street in Mattapan, which was approved for development in January. The developer, Heading Home, has received $3,750,000 in funding.
“Heading Home is incredibly grateful for the tremendous and integral support from the City to help 23 Boston families move out of homelessness. It is so exciting to begin this project together, which will replace a structurally challenged building and nearly triple the number of families able to find permanent housing on the property,” said Danielle Ferrier, Chief Executive Officer of Heading Home.
Urbanica received $1,366,000 for the creation of 15 new affordable homeownership units at a new, four-story residential building at 120 - 122 Hancock Street in Dorchester.
