Governor Charlie Baker and Mayor Martin J. Walsh Break Ground at Treadmark in Dorchester
Former Ashmont Tire site will become 83 units of mixed-income, transit-oriented housing
Boston – July 11, 2016 – Today Governor Charlie Baker joined Mayor Martin J. Walsh, Senator Linda Dorcena Forry, Greater Ashmont Main Streets and officials from the real estate development firm Trinity Financial to break ground on Treadmark, an 83 unit, mixed-income housing development in Dorchester's Ashmont neighborhood.
The project transforms an underutilized neighborhood parcel, advances the Commonwealth's workforce housing production goals, and is transit oriented. It builds on past and ongoing development in the neighborhood, and follows on the success of Trimity's Carruth building, bringing more housing and retail space to Ashmont. Treadmark is advancing with significant state and city support, including over $3 million in state and federal tax credits that will generate approximately $22 million in equity for the project, $3 million in rental subsidy funds, and over $4 million in funding from the City of Boston.
“This development continues to build on our commitment to significantly increase the production of workforce housing throughout the Commonwealth,” said Governor Charlie Baker. "Treadmark is an impactful project for Dorchester, showcasing how affordable and workforce housing can transform underutilized neighborhood parcels, and build community in the process."
“Dorchester is a vibrant and growing neighborhood, and this development will provide new opportunities for housing and economic development for the families and residents of Ashmont,” said Lieutenant Governor Karyn Polito. “We welcome opportunities like this to work with our local partners and collaborate on advancing the vibrancy and wellbeing of communities across the Commonwealth."
"Treadmark exemplifies the type of mixed-income and transit-oriented housing development that is needed in neighborhoods across our city," said Mayor Martin J. Walsh. "I am proud that the city's investment in this project will help support new affordable rental housing for families in Dorchester. I want to thank the many partners involved who helped bring this project to fruition, adding to our city's affordable housing stock and helping us achieve our housing goals."
"Community-driven housing construction is a cornerstone of our broader economic development agenda," said Housing and Economic Development Secretary Jay Ash. “Mixed-income smart growth housing development, like Treadmark, helps keep Massachusetts competitive, by creating new opportunities for young professionals and families to set down roots.”
“Today's groundbreaking brings a strong neighborhood vision to fruition," said Housing and Community Development Undersecretary Chrystal Kornegay. "We are proud to partner with the City of Boston, and with the residents of Dorchester, to move this compelling housing project forward."
“We believe this project is a model for how to create affordable and middle-income housing,” said Trinity Financial Senior Project Manager Mathieu Zahler. “This public-private partnership is a national model for collaboration; the city and the state made significant investments, and our relationships with the public and private institutions we worked with were vital in making this project come to fruition. The Architectural Team, along with Taniya Nayak Design, will bring the design to life, integrating the character of Dorchester into the growing need for transit-oriented, urban development. Our goal is to accelerate Ashmont’s revitalization while maintaining a strong connection to the community whose involvement was so vitally important to getting this project underway.”
The Treadmark development includes 51 affordable rental units and 32 homeownership condominiums. Four of the condominiums meet the requirements of the City of Boston’s Inclusionary Development Policy (80-100% of AMI), 16 units are affordable to individuals making up to 110% of AMI (workforce units) and the balance are market rate. The building also includes 5,000 square feet of ground floor neighborhood retail.
Investments in affordable housing developments and renovations reflect the Baker-Polito Administration’s commitment to ensuring that residents have access to affordable housing throughout Massachusetts. In May, the administration unveiled a 5-year Capital Budget plan that includes a $1.1 billion commitment to increasing housing production. This commitment represents an 18% funding increase for production and housing preservation for existing affordable units across the state.
Last fall, the Administration awarded $75 million in Affordable Housing Development awards that support the construction and preservation of 1500 housing units across the Commonwealth.