Housing Headlines

BOSTON --- The Boston Redevelopment Authority recently approved the $3 billion Seaport Square master plan located in the South Boston Waterfront neighborhood. The 23-acre mixed-use neighborhood will contain 6.3 million square feet of residential, retail, office, hotel, innovation, civic and cultural uses within 22 new buildings. The project's residential component will include the creation of 2,500 for sale and rental homes, including 325 affordable units as well as the 325 innovative workforce housing units.

NATICK --- The developer of proposed Chrysler Apartments recently announced that a ground breaking for the two high-rise buildings is tentatively set for November. The 407-unit complex will have 25 percent of the units designated as affordable with rents ranging from $1,000 for a one-bedroom apartment to $1,250 for a two-bedroom apartment.

WORCESTER --- The redevelopment at the former Worcester Vocational School site is set to begin in the coming weeks. The first phase of the redevelopment will involve removing asbestos, razing the building, and removing soil that was contaminated from leaking underground fuel oil tanks. The second phase of development will consist of Winn Development renovating a remaining brick building on the site into 67 rental units.

HOLYOKE --- The Pioneer Valley Planning Commission recently presented data showing that the foreclosure rate for the Churchill Homes affordable housing project is significantly lower than overall rates for surrounding counties and the nation. The 202-unit development, geared towards low-income, first-time homebuyers with the addition of some rental units, has had just one foreclosure since the units were filled in 2004. Officials attribute the low foreclosure rate to smart lending, careful screening, and counseling support for prospective homebuyers. For more information about the Pioneer Valley Planning Commission's data, visit www.pvpc.org

ASHLAND --- The ZBA recently approved a 28-unit housing complex off Foundation Street named Overlook Commons. Seven out of the 28 units will be designated as affordable for families who meet specific income criteria.

TOWNSEND --- A developer who previously received a comprehensive permit to build 45 free-standing condominiums is going back to the ZBA with a plan to build rental units. Developer Gary Lorden plans to build two buildings each with 24 two-bedroom units. The affordable units would be available to residents earning at or below 80 percent of the area median income ($64,000 for a family of four).