City Of Boston: Grand Opening Of New Mixed-Income Housing On East Boston Waterfront Celebrated

Press release from the City of Boston:

July 13, 2021

“These new homes will be an essential part of the East Boston neighborhood, securing Clippership’s affordable housing promise for the future,” said BHA Administrator Kate Bennett. “This new development ensures that low income families can continue to have access to the East Boston waterfront and enjoy a better quality of life in new modern homes.”

The Harborwalk project is part of the BHA’s continuing effort to preserve, expand and modernize public housing in the City of Boston. The agency kicked off the development process in April 2016 and holds the ground lease for the rental site. WinnCompanies owns Harbor125 Apartments and developed Harborwalk Residences with a deed restriction requiring the 14 middle income home ownership condos to remain affordable.

MassHousing, the independent, quasi-public agency that provides financing for affordable housing in Massachusetts, provided a $6.6 million permanent mortgage and $3.6 million in bridge loan financing for the development of Harbor125 Apartments and $1 million from the agency’s Workforce Housing Initiative to subsidize the cost of the 14 workforce condos at Harborwalk Residences.

This press release was produced by the City of Boston. The views expressed here are the author’s own.