![]() “This highly impactful redevelopment will expand affordable housingchoices, and create new affordable homeownership opportunities, in a neighborhood that is experiencing rapid change.” “MassHousing is pleased to partner with WinnCompanies and the city of Boston, to transform outdated public housing into a new, modern, mixed-income housing community,” said MassHousing executive director Chrystal Kornegay. Additional financing sources include $9 million in Inclusionary Development Program funding from the Boston Planning and Development Agency, contributed by Lendlease, Inc., from the company’s adjacent Clippership Wharf project. The MassHousing financing will generate $7.6 million in Low-Income Housing Tax Credit equity for the rental project. MassHousing is providing $1 million from the agency’s Workforce Housing Initiative for the 14 homeownership condo. MassHousing is providing a $6.6 million permanent mortgage and $3.6 million in bridge loan financing for the 22-unit rental development. The redevelopment project will improve public access to the waterfront from the surrounding Maverick Sq. will also construct a 30-unit mixed-income home-ownership building, the Clippership Condominiums. The apartment building will include ground-floor retail space, community space and a bicycle storage room.Īs part of the redevelopment plan, WinnCos. will demolish four former Heritage Apartments buildings, which contain 20 units of family public housing, and construct 22 units of replacement affordable rental housing in the Clippership Apartments. The Clippership projects involve the redevelopment of a portion of the Boston Housing Authority’s (BHA) Heritage Apartments public housing community. The Clippership Apartments and Clippership Condominiums will create new homes for households across a broad range of incomes, including 14 new workforce homeownership units in the condominium development. ![]() ![]() Rendering of Clippership Apartments and Clippership CondominiumsĮast Boston, MA MassHousing has closed on a total of $11.2 million in affordable housing financing to WinnCompanies for the development of 22 new rental housing units and 30 new condominiums on the waterfront. ![]()
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