Housing Headlines

HARVARD --- Developer Lou Russo recently received news that his proposed affordable rental project, located at 196 Ayer Road, will receive over $2.7 million in state and federal financing. The Bowers Brook Housing for Senior project will consist of 42 rental units, all of which will be available to moderate-income senior and citizens with special needs. Russo expects construction to begin later this year.

WALTHAM --- The Community Preservation Committee (CPC) recently approved $400,000 to supplement development costs on the renovation of an old factory building into affordable housing. The developers, Waltham Alliance to Create Housing (WATCH), plan on converting the former Beacon Valve factory at 2 Jackson Street into six, two-bedroom rental units, all affordable to residents earning below 60 percent of the area median income (AMI). The project still needs to receive state approval as well as approval from the local zoning board.

ACTON/STOW --- The Sweeney Family recently proposed the development of a homebuyer project on the Acton-Stowe line. The Highgrove Estates project is proposed to consist of 64 homebuyer units, 25 percent of which would be sold to low- and moderate-income buyers who earn between 70 and 80 percent of the area median income. The project is currently being reviewed to determine if it qualifies for a 40B project eligibility letter.

PROVINCETOWN --- The affordable housing development company, Community Builders, says it will once again apply to the state for tax credits to fund the development of 50 units of affordable rental housing.

KINGSTON --- The developer of one of the biggest smart-growth projects in the state has announced he will not go forward with his 700-home, 300,000 square foott commercial project due to financing problems and permitting delays, including an appeal of recent decision regarding how the development could impact box turtles.

BOSTON --- The Boston Redevelopment Authority (BRA) recently approved a residential building on a parcel owned by Brigham & Women's Hospital and a new residential complex in Allston. The residential complex on the Brigham & Women's parcel will consist of 136 units, 66 of which will be affordable rental units and 70 of which will be condominiums. The three-story Allston development will contain 20 condominium units, two of which will be designated as affordable.