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MAYOR JANEY, BHA, DHCD, AND TRINITY FINANCIAL BREAK GROUND ON PHASE THREE OF OVERLOOK TERRACE AT ORIENT HEIGHTS – Boston, Massachusetts

Boston, Massachusetts 2021-09-07 14:14:57 –

Phase 3 completes the redevelopment and revitalization of the 331 units of Orient Heights Public Housing Community.

Mayor Kim Janey has joined the residents of the Orient Heights Public Housing Community and members of the Boston Housing Authority (BHA), Housing and Community Development Bureau (DHCD), Trinity Financial and East Boston Community Development Corporation development teams today. .. Construction will begin at the final stage of the Orient Heights Overlook Terrace.

Phase 3 of the project will complete the replacement and modernization of the remaining 123 units of Orient Heights, completely preserving the original 331 units of public housing. This final stage is the culmination of the planning and development process initiated by BHA in 2008 and is state-funded by DHCD.

“The Orient Heights Overlook Terrace is the result of a great partnership between the city, the state, the East Boston area, and our development and financial partners that show their true commitment to this community,” said Mayor Kim Janie. “Phase 3 marks the completion of this historic initiative to provide first-class living experiences for more than 300 families in public housing.”

Phase 1 redevelopment work on the Orient Heights Overlook Terrace was completed in 2018 and included the construction of 120 new alternative state public housing units. Phase 1 achieved LEED (Leadership in Energy and Environmental Design) platinum certification. Phase 2 consisted of 88 new alternative state public housing rental units that combined apartment style and townhouse housing. The Phase 2 property, which also includes a new community, open space and playground, was completed in 2020 with LEED Gold certification for sustainability and energy efficiency.

“Affordable housing availability to meet Massachusetts’ high demand is a constant challenge for the Commonwealth, and this final step at Orient Heights is another step in addressing that challenge.” Said Secretary Mike Kennery. Much has been said about what the City of Boston, the Boston Housing Authority, the East Boston CDC, and Trinity Financial have done to create a quality apartment community that everyone is proud to call home. increase. The city of Boston, the inhabitants, and all the stakeholders of this milestone today. “

As part of its 2010 capital plan, Mayor Jenny promised an additional $ 19 million in Phase 3. The state has capitalized $ 17.5 million and has allocated a 4% and state low-income housing tax credit. Additional Phase 3 funders include Citizens Bank, RBC Community Investments, MassHousing, and George B. Henderson Foundation.

“Orient Heights is more than just a collection of buildings. It’s a strong and proud community where low-income generations in Boston have lived and raised their families for decades,” said BHA’s manager. Says Kate Bennett. “This final stage fulfills our promise to secure a future and home for those families here at Orient Heights.”

Having owned and managed Orient Heights public housing development since its first construction in the 1950s, BHA embarked on a planning process in 2008 with the help of DHCD to consider community redevelopment options. In January 2015, funded by the DHCD, BHA selected the Trinity Financial and East Boston CDC development teams to work with both the agency and residents of the Orient Heights community to complete the redevelopment strategy. The development team will work with BHA and DHCD to secure funding for the redevelopment and to own and manage the building in the future. BHA will continue to own the land and rent it to Trinity.

Eva Erlich, Vice President of Development at Trinity Financial, said: “Trinity’s Overlook Terrace Development Team is a tremendous collaboration between the public and private sectors, and residents and the community to help realize the property’s vision and meet the affordable housing needs of East Boston. It’s just part of the work. “

Phase 1 is funded through affordable housing resources from the city of Boston, a federal government 4% low-income housing tax credit, tax exemption bonds for construction funds, and state public housing capital fund allocations from BHA and DHCD. Funded by. Phase 2 is made possible with funding from EOHED and DHCD, BHA, MassWorks, MassHousing, RBC Community Investments, and Citizens Bank in Boston, Massachusetts.

About Boston Housing Authority

The Boston Housing Authority (BHA) is a public agency that provides subsidized housing for low- and middle-income individuals and families. In addition to the traditional public housing community throughout Boston, BHA offers rental assistance programs. BHA receives federal and state funding to provide housing programs for individuals and families. BHA’s mission is to provide low- and middle-income earners with stable, high-quality, affordable housing. To provide these services with completeness and mutual accountability. And to create a living environment that serves as a catalyst for the transition from addiction to economic self-sufficiency.

About Trinity Financial

Trinity Financial is a diverse community-led real estate development company with a proven track record of redeveloping complex urban sites from New York to Greater Boston. Our work spans half a dozen residential and commercial disciplines, from multi-family housing to public transport-oriented development. Over the last three decades, Trinity has completed over $ 3 billion in innovative development to provide high-quality, sustainable housing with a commitment to people and places, from affordable to luxurious. doing. For more information on Trinity Financial, please visit: www.trinityfinancial.com..

MAYOR JANEY, BHA, DHCD, AND TRINITY FINANCIAL BREAK GROUND ON PHASE THREE OF OVERLOOK TERRACE AT ORIENT HEIGHTS Source link MAYOR JANEY, BHA, DHCD, AND TRINITY FINANCIAL BREAK GROUND ON PHASE THREE OF OVERLOOK TERRACE AT ORIENT HEIGHTS

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