North Shore CDC Receives Funding for New Affordable Housing Development in Salem

SALEM- Governor Charlie Baker and Undersecretary of Housing and Community Development Chrystal Kornegay announced awards for the 2015 competition to fund affordable rental housing development, renovation, and preservation in the Commonwealth. North Shore Community Development Coalition’s Congress Street Residences development in Salem’s Point neighborhood was one of 23 projects awarded funding by the Department of of Housing & Community Development.

“I am very pleased that the Baker administration has taken this positive step to help advance an important project to strengthen and improve the Point neighborhood,” said Salem Mayor Kim Driscoll. “The Congress Street Residences will provide high quality housing for dozens of Salem families and will greatly improve the quality of life in this active neighborhood.”

Congress Street Residences is a significant neighborhood revitalization initiative in the Point neighborhood. This project consists of 8 buildings with 64 units and 2 retail spaces in the Point neighborhood in Salem. North Shore CDC acquired these buildings in December 2014 and expects to begin the one-year construction project in Spring 2016. The rehab of the buildings will include all new roofs, mechanical systems, all new windows, extensive masonry repairs, all new kitchens and baths, and unit reconfiguration in most buildings. The development currently houses 64 families and after the rehab will include 16 units for households earning less than 30% of the area median income and 7 units for formerly homeless households, with the balance of the apartments available to households at 60% of area median income.

“This investment in Salem’s Point neighborhood will improve the quality of life for residents and promote further investment on the part of other property owners. We are excited about the future of the neighborhood and are thankful for the support of the project by the administration,” said Mickey Northcutt, CEO of North Shore CDC.

“I am so thankful to the Baker Administration for the funding of the much needed renovation of these buildings and the continued investment and work by the North Shore CDC in the Point Neighborhood!” said Lucy Corchado, President of the Point Neighborhood Association.

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