Housing Headlines

CAMBRIDGE --- San Francisco-based DivcoWest continued its recent Boston buying spree, paying a rumored $300 million for 42 acres near the Museum of Science. The land, previously co-owned by former Laker Magic Johnson, is expected to be developed into 3,000 apartments, office buildings and lab space. Divco has bought four office buildings in Boston and Kendall Square since 2013.

QUINCY --- Neighborworks of Southern Mass - a Quincy-based nonprofit - has purchased, will renovate and preserve the affordability of Kendrigan Place, a 78-unit apartment building in Quincy.

NANTUCKET --- The island is on the verge of seeing the construction of its first apartment complex as the planning board has granted Richmond Great Point Development a special permit to build 28 studio, one- and two-bedroom apartments targeted to island's work force population. The apartments are part of Richmond's plans to develop 70 acres it bought for $30.6 million in August 2013 into a mixed-use neighborhood.

GLOUCESTER --- A proposal by St. John's Episcopal Church to build 30 apartments in its parking lot is already hitting a snag as the city's Community Preservation Committee is recommending to give the church only $5,000 toward a feasibility study, $10,000 less than the church was asking for.

GREENFIELD --- The Congress Companies - owner of a 94-unit apartment building on Congress St. - has received a $6.8 million low-interest loan that it will use to make necessary system repairs and preserve 20 of its apartments as affordable for the next 20 years.

BOSTON --- The Urban Land Institute takes an in depth look at the success of the Choice Neighborhoods Initiative, a federal program that provided a $20 million grant to support the rehabilitation of 129 apartments in Dorchester and the renovation of an old meat factory into a food production center that resulted in 84 jobs.