Opening Doors to Homeownership

In a year marked by continued housing challenges across Massachusetts, we’re especially proud this year of our focus on expanding affordable homeownership opportunities. At Brookley Flats in Jamaica Plain, our partnership with JPNDC is bringing 45 new condominiums to families earning 80-100% of area median income. The overwhelming response – nearly 1,000 applications – underscores both the urgent need for affordable homeownership and the appeal of these thoughtfully designed homes near Franklin Park and Forest Hills. We look forward to welcoming families to their new homes in early 2025.

Building on our work in Chelsea, we closed on construction financing this month on 28 new affordable condominiums with street-level retail space in the heart of downtown. Like Brookley Flats, these homes will serve families earning 80-100% of area median income and represent our continued collaboration with JGE Enterprises for design and Haycon for construction. Both developments are being built to rigorous Passive House standards, ensuring long-term sustainability and reduced energy costs for future homeowners.

You may (or may not!) have noticed that we’ve missed sending annual updates since 2020 – between navigating COVID, moving projects forward, and trying to keep up with all the kids’ activities, we’ve been distracted! Since our last update many good things have been happening: 

• In Hamilton, Willow Street Flats has become a vibrant addition to the downtown landscape with 19 apartments and a locally owned bakery on the ground floor; 
• In Reading, Ace Flats with 55 apartments adjacent to the commuter Rail opened in 2021 and welcomed two great local businesses on the ground floor, strengthening Reading’s downtown’s vitality;
• Back in Chelsea, 1005 Broadway, our joint venture with The Neighborhood Developers, achieved both its promise of creating 38 new affordable homes and its ambitious sustainability goals, receiving Passive House Certification in 2023;
• In Worcester, in 2023 we completed the award-winning transformation of the Mission Chapel into 7 market-rate apartments;
• In Williamstown, we completed two additional Riverhouses after selling out the first new construction phases in 2020/1, and we’re preparing to close construction financing and break ground on Riverlofts (do you sense a theme?) in early 2025, a 54 unit mixed-income rental building. 

All the while, our non-profit consulting work continues to focus on helping great organizations leverage their real estate assets to advance their important missions. After six years of collaboration, we’re excited to break ground this coming spring on Youth Enrichment Services’ new headquarters in Jamaica Plain. We’re looking forward to big things in 2025 with Roxbury Tenants of Harvard on Huntington Avenue in Mission Hill, and we continue supporting Children’s Services of Roxbury with their headquarters renovation planning.

Many more exciting projects are brewing for 2025 and beyond! Stay tuned…