Construction begins on first phase of Charlestown’s Bunker Hill Housing redevelopment MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent
It’s been eight years since the process began to redevelop Charlestown’s aging Bunker Hill Public Housing Development, but earlier this month it finally took a major step forward. Boston Mayor Michelle Wu celebrated the groundbreaking of the first phase of the redevelopment, which will transform the existing 1,110-unit public housing community into a 2,699-unit mixed-income community, representing the largest public housing redevelopment in Boston’s history. Wu called transforming the Bunker Hill Public Housing Development “critical in keeping residents and families who have called Charlestown home for generations to come.”
“Today’s groundbreaking shows what’s possible when we use every tool as a city and partner across different sectors and levels of government to ensure residents have access to safe, affordable and sustainable housing,” Wu said. “I’m grateful to all of our partners for their critical work and look forward to the completion of this redevelopment.” Bunker Hill was originally built in 1940 as federal public housing. Many of its buildings have fallen into disrepair in the intervening decades due to a lack of federal funding. The existing forty two buildings will be replaced with fifteen new residential buildings, retail and community space, as well as green spaces and connections to the surrounding community.
Suffolk Construction has already started work on phase one of the project: a four- to six-story apartment building with one hundred and two units of deeply affordable housing. According to a press release from Mayor Wu’s office, these units will be subsidized through the Federal Project-Based Section 8 Voucher program. The financing for the first building is provided by MassHousing and CREA/Citizens Bank. “Bunker Hill families have waited a long time for this day to come and we’re so happy that the work is finally underway,” said Boston Housing Authority administrator Kate Bennett. “The BHA, the CRA and the developer have worked side by side as a true tri-party team to find solutions that will change thousands of lives for the better.” The redevelopment is a public-private partnership of the Boston Housing Authority, the Charlestown Resident Alliance, the Joseph J. Corcoran Co., Leggat McCall Properties and Declaration Partners. Each of the new buildings will be built to Passive House standards, meaning they will have the highest standard for energy efficiency in new construction.
“This redevelopment represents a landmark partnership between the City of Boston and the private sector with a community-driven process at its core,” said Adelaide Grady, Bunker Hill Housing Redevelopment executive director and senior vice president and partner at Leggat McCall Properties. “Despite pandemic obstacles, the tri-party team forged ahead knowing that critical new housing, green space and Passive House construction in a deep-rooted, historic neighborhood could be a future model for how development can be done differently.”The redevelopment will take place in phases over 10 years to minimize relocation disruption to current residents.
The post Construction begins on first phase of Charlestown’s Bunker Hill Housing redevelopment appeared first on Boston Agent Magazine.
FIRST TIME HOMEBUYERS
HOMEBUYERS BEWARE! Book Review
This book is an excellent first step in a complicated process.
Buying a home is like buying a car, on steroids. It’s the biggest investment you are likely to make so the stakes are incredibly high. I knew that having an agent represent me was a good idea.
What I hadn’t grasped was how important it is to find one who is not connected with the selling side in any way—through an agency that also represents sellers, as most do, at least in Mass. In researching buyer agents, I found Tom through the Mass. Assoc. of Buyer Agents (MABA).
Article From: "Liz Hughes" Read full article
Get Started with MABA
For no extra cost, let a MABA buyer agent protect your interests