Re: Parcel P-12 | Chinatown
I actually forgot to mention two things. The BPDA owns this land, and they are not looking to sell it like the 115 Winthrop Project. Whatever project goes here it is almost guaranteed to be a ground lease with the BPDA. Also, public subsidies would be included in any financial package for a structure going up here.
So i have been meaning to write a brief synopsis about the last meeting for this parcel....
- The community has requested that the site be maximized to its tallest height. Roughly it is zoned for about 100'0" below the FAA limit.
- The turnout at the meeting was largely of the chinatown community with majority of the questions focusing on the community benefits.
- A single bay village resident attended the meeting to voice a few concerns, particularly about potential shadows over the small park that sits directly across Tremont Street.
- Multiple Easements that cross the site are desired to be kept.
- The Asian Community Design Corporation (ACDC) was present, and after a brief discussion with the director of real estate, they would ultimately like to be the developer with financing coming from a traditional developer (similar to One Greenway). The same director mentioned to me that this would be a good site for the 115 Winthrop Square off site affordable housing units here. Would like to work with MP, but nothing has been finalized.
- Speaking of affordability; the chinatown residents wanted to push the affordable numbers to a minimum of 50% affordable units, with a desire for 100%. The desires also went to what level is "affordable". some wanted to go as low as 30% AMI.
- Tufts has an interest in the site, not particularly about developing it, but the vice president of real estate mentioned wanting to be active in the community. All branches of the Tufts umbrella (University, Medical Center, Shared Services) were all present at the meeting
- There will be one more meeting after a comment period about the design guidelines then they are anticipating a RFP to come out by mid/late summer.
The community in Chinatown is not afraid of height. We'll take height to get more affordable housing. BPDA is well aware of this, and often comments on it as an outlier in Boston.
I actually forgot to mention two things. The BPDA owns this land, and they are not looking to sell it like the 115 Winthrop Project. Whatever project goes here it is almost guaranteed to be a ground lease with the BPDA. Also, public subsidies would be included in any financial package for a structure going up here.