41 LaGrange Street
Update
11/04/24
POUA Closes on Financing for 41 Lagrange
The Planning Office of Urban Affairs has closed on a series of loans for the under-construction 41 Lagrange Street project including $9,500,000 & $71,161,277 loans through Bank of America. The upcoming 19-story tower will include 126 mixed-income rental units with 70 of the units set-aside as permanent supportive housing for those experiencing homelessness
41 LaGrange Street will comprise studio, one- and two-bedroom units. The unit mix will consist of 68 studios, 21 one-bedroom units and 37 two-bedroom units. Seventy units will be set-aside as permanent supportive housing for those experiencing homelessness. The residents of these units will benefit from case management and supportive services provided by St. Francis House. The balance of the 56 units will be targeted to workforce and middle-income households, thereby creating an integrated and diverse community. These remaining units will be restricted to occupants making less than 30% of area median income (“AMI”); two units will be leased at less than 50% AMI; 19 units will be leased at less than 60% AMI; and 35 units will be leased at less than 80% AMI.
Additional funding for the project was secured through the Executive Office of Housing and Livable Communities; MassHousing Finance Agency; Community Economic Development Assistance Corporation; the City of Boston’s Mayor’s Office of Housing, and Neighborhood Housing Trust; Boston Housing Authority; and The Life Initiative.
