Forbes Building
Update
09/19/23
Renovations Planned for Forbes Building in JP
The Jamaica Plain Company has filed a Letter of Intent for the proposed renovations of the Forbes Building in Jamaica Plain. Constructed in 1978 on a 1.59-acre lot the building includes 147 affordable apartments and 4,500 square feet of commercial space. The building is the last property in the MA Section 13A Rental Housing portfolio and the ownership desired to maintain the affordability for the next 40 years. The proposed affordability percentage is expected to be 97% (143 of 147 units). The new income averaging allows for LIHTC units to be up to 80% AMI as long as the average income of the tenants is at 60% AMI or lower. Most of the 143 LIHTC units will be at 60% AMI, with approximately 20 units up to 80% AMI. Plans for the renovation include a new facade and mechanical systems to meet sustainable, Passive House, standards.
