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"The completion of the rental units at Indigo Block is the culmination of years of hard work and many productive partnerships between the community, area stakeholders, government agencies, and private investors. I am proud that together, we are guaranteeing long-term affordability by creating these new homes," said Mayor Kim Janey. "I want to thank Dorchester Bay Economic Development Corporation, Boston Capital Development, and Escazú Development for all they have done to get the project done against all odds in the middle of a pandemic."
Indigo Block creates 80 mixed-income rental units and nine homeownership units for first-time homebuyers. Also, it creates 23,000 square feet of light industrial and office space, which will accommodate up to seven commercial tenants. Indigo Block creates affordable housing options and provides opportunities for small businesses to expand and create jobs in the community.
Dorchester Bay and its partners, Boston Capital Development and Escazú Development, have developed 80 rental units that will house low- to middle-income households. Of the rental units, 44 will be available to individuals making up to 60% of the Area Median Income (AMI), or $56,400 per year, and 36 will be for individuals making between 61% and up to 90% of AMI, or $76,100 per year.
"As an organization, Dorchester Bay strives to create healthy, safe, and attractive homes for our residents, and economic opportunities for the community. This project shows how a truly productive private, nonprofit, and public sector partnership can accomplish these goals. We're grateful to all of our partners for helping us to deliver Indigo Block, and we look forward to its being a community asset for years to come," said Dorchester Bay EDC CEO Perry Newman.
"We are very excited that Indigo Block is near completion. This project fills an incredible need in the community for more mixed affordable housing units as well as light industrial space that we know will provide dozens of jobs for local residents! The strength of our partnership has been key to bringing about a model development that we know will set the bar for similar projects in the future," said Newmarket Community Partners Executive Director Susan Sullivan.
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Indigo Block was designed by Davis Square Architects to be energy and resource-efficient in accordance with the City of Boston's Green Affordable Housing Program. It utilizes high-efficiency heating and cooling systems fixtures, as well as Energy Star-rated appliances. The development also employed environmentally-friendly design features throughout. The site received LEED Neighborhood Development certification. It also meets the U.S. Environmental Protection Agency's Energy Star standards.
"The Indigo Block fulfills a long-held community vision of transforming a vacant city parcel into a true neighborhood asset that delivers affordable homes and economic opportunities," said MassHousing Executive Director Chrystal Kornegay. "This new housing community resulted from a truly collaborative effort by all the development partners, and the Uphams Corner community and MassHousing were pleased to be part of completing this dynamic project for the residents now calling Indigo Block home."
This mixed-income transit-oriented development was made possible with funding from the City of Boston Department of Neighborhood Development (DND), Inclusionary Development Program (IDP), HOME Program, Affordable Housing Trust Fund (AHTF), Federal and State Low-Income Housing Tax Credits (LIHTC), Commercial Area Transit Node Housing Program (CATNHP), the Department of Housing and Community Development (DHCD), and New Market Tax Credits (NMTC) from Massachusetts Housing Investment Corporation (MHIC) and Local Initiatives Support Corporation (LISC). Funding support for Indigo Block also includes financing from Eastern Bank, Boston Private Bank, The Life Initiative, Boston Capital, MassHousing, Property and Casualty Initiative LLC, Community Based Housing (CBH), CEDAC, and The Northern Trust Company.
About the Department of Neighborhood Development (DND)
The Department of Neighborhood Development is responsible for housing people experiencing homelessness, developing affordable housing, and ensuring that renters and homeowners can find, maintain, and stay in their homes. As part of the ongoing coronavirus response, the Office of Housing Stability is administering Boston's Rental Relief Fund, which has given out more than $20 million to more than 4,000 households and is also conducting tenant's rights workshops to educate residents about the eviction moratorium and their rights. The Boston Home Center continues to provide down payment assistance to first-time home buyers and home repairs for seniors and low-income residents. The Supportive Housing Division works with various partners around the city to rapidly house individuals who are experiencing homelessness. For more information, please visit the DND website.
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About Dorchester Bay Economic Development Corporation
Dorchester Bay Economic Development Corporation (DBEDC) is a community development corporation founded by local civic associations in 1979 to address the problems of economic disinvestment, unemployment, crime, community tensions, and the shortage of quality affordable housing undermining Boston's Dorchester neighborhoods. Over the last 40 years, we have worked in partnership with local leaders and stakeholders to build and preserve 1,100 units of affordable housing and over 200,000 square feet of commercial space, to engage residents in community life, and to support a robust economy through small business support and economic development. The structures we have built are physical manifestations of our work, but at its core, our work is about strengthening our community, which is made up of the people who live and work in our neighborhood.
For more information, visit the DBEDC website at www.dbedc.org.
About Boston Capital Development, LLC
As an affordable and workforce multifamily housing developer, Boston Capital Development is committed to working with communities and stakeholders to provide much-needed housing solutions in the markets we serve. Our development business is built upon the strength and experience of the parent company, Boston Capital Corporation, established in 1974 and having invested in over 230,000 apartment units for low and moderate-income households nationwide. We will continue using our expertise and industry-leading approach to meet the growing housing needs for all Americans.
About Escazú Development
Escazú Development, formed in 2013, adopts an entrepreneurial approach to real estate development and construction management, creating value for its public, private, and local community partners. A growing real estate development company, Escazú Development is involved in the creation of a range of housing and commercial development ventures in greater Boston's neighborhoods.
The firm takes a collaborative approach to development that involves stakeholders in government, private capital partners, nonprofits, and community neighborhood groups. Our firm and its leadership have an unwavering commitment to developing and investing in urban areas where there is a need for economic growth and opportunity. As a minority-owned enterprise, Escazú has a deep commitment to excellence, growth, and collaboration with local municipalities and their leadership.
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