Housing Headlines

WALTHAM --- Construction recently began on the first phase of apartments at a new complex dubbed "The Merc at Moody & Main". The mixed-use, transit-orientated development will consist of 269 new residences, of which 27 are affordable, 27,959 square feet of retail space, a 300-car garage and 92 surface parking spaces. The first apartments will be ready for occupancy in the summer of 2015 with project completion set for the following year.

BOSTON --- City and state officials recently celebrated the midway point of redevelopment at the Old Colony public housing site in the South Boston neighborhood. Work so far has included demolition of the 223 original apartments and construction of 129 new apartments. Construction is underway on the remaining 40 apartments, which will be ready for occupancy next year.

BOSTON --- Brighton Marine Health Center Inc. and WinnDevelopment recently announced plans to partner in order to create a 101-unit affordable rental complex for veterans and their families. The project would be built along Commonwealth Avenue with 80 percent of the units designated as affordable. Of the affordable units, 70 percent would be reserved for veterans and their families. The partner agencies will soon start the permitting process with the Boston Redevelopment Authority (BRA).

PITTSFIELD --- Construction recently wrapped on the conversion of formerly vacant building on Federal Street into 14 apartments and 10,000 square feet of retail space. Rents for the apartments range from $950 to $1,400/month for the one- and two-bedroom units. The project received $400,000 from the state Department of Housing and Community Development's (DHCD) Housing Development Incentive Program (HDIP) tax credit program.

HOPKINTON --- A Southborough-based developer has proposed a 40B development for 149 Hayden Rowe Street. The proposed project will be located on a nearly three-acre site and will consist of 20 Cape Cod-style condominium units. The Board of Appeals must review the project before it can move forward.

BOSTON --- Bank of America, the largest bank in Massachusetts, has pulled out of one of the state's leading first-time homebuyer programs, a move that will make it harder for low-income and minority borrowers to get home loans, according to housing advocates. A BofA spokesman said the move was made as part of an effort to "simplify" the company.