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ICON Architecture Rendering
"It's great to see the start of construction at the Holtzer Park housing development, which will create many new and affordable homes here in Jackson Square," said Mayor Martin J. Walsh. "Projects like these are part of our overall strategy to increase the availability of affordable housing in the city, and I want to thank Urban Edge and our partners for their work to make these new homes possible."
Holtzer Park will create 41 affordable units for households whose income is less than $76,740 for a family of 4 and are supported with Low Income Housing Tax Credits. An additional 21 of these units will have project-based vouchers to provide even deeper affordability for households whose income is less than $38,350 for a family of 4.
Holtzer Park is named for the Holtzer-Cabot Electric Company, where a variety of electrical devices were manufactured. In 1970, BHA converted the building into senior housing.
"It's exciting to see underutilized BHA land transformed into such an important use for dozens of low-income families," said BHA Administrator Kate Bennett. "We are forging exciting opportunities in Jackson Square and I am grateful to all of our partners and staff that have made this happen."
In accordance with the City of Boston's Green Affordable Housing Program, Holtzer Park will utilize a high-efficiency heating system and building envelope, as well as Energy Star-rated appliances. The development will employ environmentally friendly design features throughout and will meet the U.S. Green Building Council LEED Homes Gold certifiable standard. The housing development will also meet the U.S. Environmental Protection Agency's Energy Star standards. The development team is made up of Urban Edge, ICON Architecture, and NEI General Contracting.
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"It is exciting to begin construction at Holtzer Park, which will bring much-needed, high-quality affordable housing to Jackson Square," said Emilio Dorcely, CEO of Urban Edge. "Jackson Square has undergone a transformation over the last several years, but because of the hard work of our partners at the City of Boston, Boston Housing Authority, Jamaica Plain Neighborhood Development Corporation, and The Community Builders, current residents are benefitting from those changes. We look forward to being able to celebrate the opening of Holtzer Park – and 62 new affordable homes - in person, when it is safe to do so."
Holtzer Park has been made possible in part by more than $2.71 million in funding from the City of Boston, $750,000 in Neighborhood Housing Trust, as well as more than $15.8 million in State and Federal Low Income Housing Tax Credits from the Commonwealth's Department of Housing and Community Development (DHCD). Financing team members also include the Community Economic Development Assistance Corporation, MassDevelopment, MassHousing, Massachusetts Housing Investment Corporation, Citizens Bank, Massachusetts Housing Partnership, the Federal Home Loan Bank of Boston, Boston Private, The Life Initiative, and the US Department of Housing and Urban Development.
"This project is a fantastic example of how our strong non-profit partners like Urban Edge are able to layer multiple state, federal, and local funding sources to create opportunities for our families," said Housing and Community Development Undersecretary Jennifer Maddox. "We are excited to see the Baker-Polito Administration's investments in the neighborhood, through MassWorks Infrastructure funding, MassDevelopment's Brownfields program, and our own affordable housing awards help advance this great work."
Today's announcement builds on the goals of Housing a Changing City: Boston 2030, the Walsh administration's plan to stabilize the housing market, accommodate growth, improve housing accessibility, and increase affordability. Since 2014, the implementation of the City's housing plan, 13,551 new units of housing have been completed. With an additional 8,412 units currently under construction, the City has secured housing for an estimated 25,000 residents, making significant progress in meeting Boston's rapid population growth.
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About the Department of Neighborhood Development (DND)
The Department of Neighborhood Development is responsible for housing the homeless, 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 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 is working with various partners around the city to rapidly house individuals who are experiencing homelessness. For more information, please visit the DND website.
About The Boston Housing Authority (BHA)
Boston Housing Authority (BHA) provides affordable housing to more than 58,000 residents in and around the City of Boston. Residents are assisted through a combination of public housing and federal and state voucher subsidy programs that provide a wide variety of housing opportunities. As the most significant public housing authority in New England, the BHA houses close to 9 percent of the city's residents. Our mission is to provide stable, quality, affordable housing for low and moderate-income persons; to deliver these services with integrity and mutual accountability, and to create living environments that serve as catalysts for the transformation from dependency to economic self-sufficiency.
About the Neighborhood Housing Trust Fund (NHT)
The Neighborhood Housing Trust Fund supports homeownership, rental, cooperative, transitional, and permanent housing developments. The fund provides financing for projects serving households earning at or below 50% AMI and gives preference to special needs populations. Funding is awarded as gap financing, and each applicant may receive no more than $750,000 per project. Priority is given to projects serving the greatest number of low-income households. The program also has a preference for projects that are near transit, and include family-sized units with two or more bedrooms. Boston's Neighborhood Housing Trust Fund is funded through a commercial project linkage payment fee system.
About Urban Edge
Urban Edge is a nonprofit community development organization founded in 1974 with a mission dedicated to strengthening communities and families. Together with partners, we build affordable housing and vibrant, prosperous neighborhoods. Located in Jackson Square, we build quality affordable housing; we advise hardworking families on homeowner services, financial education, and credit and debt counseling; and we organize neighbors to become leaders of community change. To date, we have developed nearly 1,500 affordable homes and maintain a portfolio of 1,369 units.
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