Scipio
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- Feb 22, 2012
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The Boston Housing Authoritiy released an RFP for the redevelopment of 1,100 of their low-income apartments spread across 41 buildings in Charlestown. The twist here is the lack of public funding for the project: the developer will be expected to find their own funds for redeveloping the low-income housing, most likely by building a large number of market-rate units on site. How the developer pays for building 1,100 low-income units is pretty open ended, and the RFP says that retail and other non-housing uses are allowable on site.
There's been a little coverage here and there but things seem to be proceeding quietly towards the August RFP deadline. The RFP doesn't put numbers on anything, but press coverage suggests hundreds to thousands of market-rate units being built to fund construction of the new low-income housing. The projects here make up about 10% of the residential area of Charlestown, and the finished neighborhood will look very different from what's there now.
This is low-profile for now and on the edge of both the neighborhood and the city, but should be very interesting to follow!
There's been a little coverage here and there but things seem to be proceeding quietly towards the August RFP deadline. The RFP doesn't put numbers on anything, but press coverage suggests hundreds to thousands of market-rate units being built to fund construction of the new low-income housing. The projects here make up about 10% of the residential area of Charlestown, and the finished neighborhood will look very different from what's there now.
This is low-profile for now and on the edge of both the neighborhood and the city, but should be very interesting to follow!