Governor Baker Breaks Ground at Parcel 1B in Boston
Former Central Artery parcel will create 239 units of affordable and workforce housing
Boston, February 4, 2016 – Today, Governor Charlie Baker joined Boston Mayor Martin J. Walsh, Undersecretary of Housing and Community Development Chrystal Kornegay, and officials from the real estate development firm Related Beal to break ground on Parcel 1B, a mixed-use development in downtown Boston that will have all its 239 housing units priced at affordable and middle-income rents. The development, located on a former Central Artery parcel, exemplifies the Baker-Polito Administration’s ongoing commitment to the production of quality, affordable housing.
“The construction of affordable housing is a key driver of economic development, both in Boston and throughout the Commonwealth,” said Governor Baker. “This development, which showcases the power of mixed-income housing to transform vacant state-owned land, demonstrates our administration’s ongoing commitment to building stronger communities across the Commonwealth.”
“Our administration is committed to partnering with communities to address their housing needs,” said Lieutenant Governor Karyn Polito. “Related Beal’s innovative mix of affordable and workforce housing at Parcel 1B will open a fast-growing part of Boston to residents of all income levels and I commend them and our partners at the City of Boston for making this exciting development a reality.”
"I congratulate Related Beal for reaching this significant milestone and thank them for their commitment to bringing 100% affordable and workforce housing to downtown Boston," said Mayor Walsh. "Not only is this project a great achievement for the company, but it is a win for the people of Boston, with 239 units of affordable housing being added to the North Station area. This project serves as a great example of the types of transit-oriented, affordable housing opportunities we are looking to unlock for all of our families across the city."
“The work of improving housing access in Massachusetts happens at the local level,” said Undersecretary Kornegay. “By building local capacity and creating credible housing production incentives, our administration is empowering municipalities to deliver community-driven housing opportunities.”
Kimberly Sherman Stamler, Chief Operating Officer of Related Beal said, “We are thrilled to celebrate this exciting milestone. Related Beal’s vision for workforce housing and a vibrant new hotel amenity in the heart of downtown Boston at Parcel 1B could only have been realized through the significant creative and collaborative effort with the City of Boston and the Commonwealth of Massachusetts. Related has a long-term commitment to affordable housing and we are proud to see the project take this step forward, enabling even more families and our City’s diverse workforce to live in downtown Boston.”
The 239 residential units at Parcel 1B will be income-restricted for individuals, couples and families with qualifying incomes. Additionally, 10 percent of the residential units will be three-bedroom units, providing much-needed affordable family housing in downtown Boston.
Funding for the project included tax-exempt bond financing from Mass Development, federal and state low income housing credits administered through DHCD, resources from the Affordable Housing Trust Fund, a local property tax stabilization agreement, and affordable housing funds from the City of Boston. The funding from the Commonwealth reflects the ongoing work of the Baker-Polito Administration to make significant investments in affordable housing. Last fall, the administration committed affordable housing funds ( Governor Baker Announces Affordable Housing Development Awards ) to projects like Parcel 1B that will create and preserve 1,119 units of affordable housing, in every region of Massachusetts.