Housing Headlines

FITCHBURG --- Christmas Oaks Development and Management LLC recently purchased the former St. Joseph school building for $245,000. The developer plans to convert the 107-year-old building into 27 affordable one-bedroom apartments for tenants over the age of 55.

BOSTON --- The Boston Redevelopment Authority (BRA) recently approved 74 housing units in the Innovation District located in Boston's Fort Point Channel neighborhood. The development will consist of 38 market rate units, nine affordable units, and 27 "innovation housing" units intended for individuals whose income is too high to qualify for the affordable units but who are often priced out of the housing market. Construction is set to begin in the fall.

LEOMINSTER --- A former mill was recently purchased by a company with plans to redevelop the property into affordable housing units and commercial office suites.

WORCESTER --- State and local officials recently gathered to celebrate the announcement that the city had received $3.96 million in federal low-income tax credits that will be used to construct 22 new affordable housing units. The new apartments will be part of the ongoing Gardner-Kilby-Hammond Neighborhood Revitalization Project, already consisting of 88 affordable housing units.

WORCESTER --- Winn Development recently announced that the redevelopment of the former Chevalier Furniture building into 64 loft-style apartments will be completed at the end of the summer. The Canal Lofts will consist of 64 apartments, 32 of which will be designated as affordable with income cutoffs at $37,500 for one-bedroom apartments and $45,000 for two-bedroom apartments.

CHINATOWN --- The development team of New Boston Fund Inc. and the Asian Community Development Corporation recently won approval from the City of Boston for a revised plan at the site called Parcel 24. The plan will include 295 rental apartments and 50 condominium units, of which 95 rental units will be affordable and all of the condominium units will be affordable. The average price of a two-bedroom condo will be about $175,000, while a two-bedroom apartment will rent for about $540 a month to qualified tenants, and for about $1,170 at market rates. The complex will also include retail stores, an underground garage, and a park. Construction is scheduled to start in the first half of 2012.