Housing Headlines

BOSTON --- Amid pleas from residents for more affordable housing, the Boston Planning and Development Agency has given a crucial OK to the Suffolk Downs development that will bring10,000 new homes to Boston and Revere. Developer HYM agreed to build the city-mandated 13 percent of affordable units (930 units) and contribute $5 million to fund affordable housing elsewhere in East Boston, but critics argue those units will be priced out of reach for families in East Boston, where median household income is $53,000.

BOSTON --- While large, visible projects go through review, members of neighborhood organizations say smaller developers are now routinely obtaining variances that put new larger buildings on small residential lots, despite the fact that those plans are often at odds with resident visions for the neighborhoods.

LYNN --- A zoning proposal that would have changed more than 100 parcels from their current zoning to be included in the Central Business District (CBD) has been shelved after a city lawyer advised that proper notice had not been given for public hearings. The change to CBD would allow for mixed-use development, apartments and various types of business on these properties.

WORCESTER --- Enthusiasm remains high but a combination of challenges ranging from redeveloping an historic downtown courthouse to COVID-19 has delayed the opening of the 118-unit Courthouse Lofts from this summer until fall or early winter, according to Michael Lozano, vice president of Trinity Financial.

BOSTON --- Three years after being designated by the Boston Housing Authority to redevelop the Mildred Hailey Apartments in Jamaica Plain, the nonprofit development team of The Community Builders, the Jamaica Plain Neighborhood Development Corp. and Urban Edge filed detailed plans this month to replace the 253 existing apartments and add 437 mixed-income apartments. The filing kicks off the formal review process of the trio's plans to replace seven older buildings with seven-story buildings of new apartments serving a wide mix of incomes.

BOSTON --- Boston Capital, one of the nation's oldest and largest syndicators of low-income housing tax credits, is selling its $7 billion portfolio to Boston Financial, it was announced last week by ORIX Corp USA, the parent company of Boston Financial. Founded in 1974 by Jack Manning and Herb Collins, Boston Capital has raised more than $10.5 billion of investor equity for more than 3,500 properties nationwide.