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Photo credit: Anthony
Crisafulli, Trinity Financial
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BOSTON
- Thursday, November 12, 2020 - Mayor Martin J. Walsh and Governor Charlie
Baker today marked the completion of Phase Two of Overlook Terrace at
Orient Heights with a virtual
'ribbon cutting' event - joining the Boston Housing Authority (BHA),
the Department of Housing and Community Development (DHCD), and the
development team of Trinity Financial and the East Boston Community
Development Corporation.
Phase
Two of the project involved the demolition of 87 original units in four
buildings and the new construction of 88 State Public Housing rental units
in a combination of apartment style and townhouse homes. The Phase Two
property, which also includes new community and open spaces and play areas,
achieved LEED Gold certifiability for sustainability and energy
efficiency.
"The
Orient Heights development is a great Boston story," said Mayor Martin
J. Walsh. "We brought lots of partners together, we got creative
sourcing funding, and we harnessed the economic strength of our city to
create powerful opportunities for working families. I congratulate everyone
involved in the financing, design and construction. I thank the tenants for
their patience and input, and the BHA for working with them on relocation
and return."
"I'm
pleased to celebrate the completion of Phase II of Overlook Terrace at
Orient Heights, preserving hundreds of affordable units for Boston
residents," said Governor Charlie Baker. "Thank you to Mayor
Walsh, the Boston Housing Authority and all the partners that worked
together with our administration to make this project possible."
Originally built in 1951, the 331-unit Orient Heights state public housing
community has become physically distressed over the years. For the past
five years, BHA, DHCD, and the residents of Orient Heights have been
working with the development team to transform the community. Phase One of the
redeveloped Overlook Terrace at Orient Heights, which was completed in
2018, included the construction of 120 units of new replacement state
public housing. The total development investment in Phase One was of
approximately $51.2 million, including affordable housing resources from
the City of Boston, and funds raised through an allocation of federal 4
percent Low-Income Housing Tax Credits; tax-exempt bonds for construction
financing; state public housing capital funds from BHA and DHCD.
Phase
Two, being celebrated today, was made possible with $10 million from the
City of Boston, including the proceeds from the sale of the Winthrop Street
Garage as well as Inclusionary Development Policy funds secured from
Article 80 development projects in East Boston. Financing for Phase Two was
also provided by the Commonwealth of Massachusetts's DHCD, the BHA,
MassWorks, MassHousing, RBC Capital Markets, and Citizens Bank.
As
part of the upcoming FY22 Capital Plan, Mayor Walsh is committing another
$19 million for Phase Three, which is anticipated to complete the
replacement and modernization of the remaining 123 units in order to
achieve a one-for-one replacement of the original 331-units, and is
projected to commence in 2021.
"Orient Heights has been a vital
housing resource for low-income families in East Boston for almost 70
years. With these new units we are building a future for our
residents," said BHA Administrator Kate Bennett. "The work we're
doing today will secure a vibrant, stable home for hundreds of families at
Orient Heights for decades to come."
The
BHA, which has owned and managed the Orient Heights public housing
development since its original construction in the 1950s, undertook a
planning process in 2008 with the support of DHCD to consider redevelopment
options for the community. In January 2015, with an award of funding from
DHCD, the BHA selected the development team of Trinity Financial and East Boston
CDC to work with both agencies and the residents of the Orient Heights
community to finalize a redevelopment strategy. In partnership with the BHA
and DHCD, the development team secured financing to implement the
redevelopment, and will own and manage the buildings post-redevelopment.
The BHA will continue to own the land and will lease the land to
Trinity.
"This
property is a critical part of the BHA's portfolio in meeting the City of
Boston's affordable housing needs. It has been a privilege to be part of
such a collaborative public-private partnership with our colleagues at the
Commonwealth of Massachusetts, the City of Boston, the Boston Housing
Authority, East Boston CDC, the Orient Heights residents, and our
colleagues in finance and development to see this second phase through to
completion." said Eva Erlich, Vice President, Development with Trinity
Financial. "We're thrilled to be marking this milestone for Phase Two,
and look forward to completing the full transformation with the third and final
phase. "
Since January of 2015, BHA and the development team have held public
meetings with residents and the neighborhood, regular meetings with the
Local Tenant Organization and various meetings with City and State
officials. The redevelopment effort has been supported by a local community
that recognizes Orient Heights as an integral part of the neighborhood.
BHA, Trinity, and the East Boston CDC will continue to meet with public
housing residents and neighbors in the broader community on an on-going
basis throughout the remaining stages of redevelopment.
Mayor Walsh and the City of Boston have dedicated substantial resources to
redevelopment efforts at BHA Public Housing sites across the city. In
addition to the city's $10 million investment for Orient Heights Phase Two,
Mayor Walsh has invested $6.5 million to redevelop the Whittier Public
Housing Development in Roxbury, $30 million for a future redevelopment of
the Bunker Hill Public Housing Development in Charlestown, $25 million to
Anne Lynch Homes at Old Colony in South Boston, and $5 million this year to
kickstart renovation efforts for BHA Public Housing for seniors and
residents with disabilities across the city.
Since
the implementation of the Mayor Walsh's housing
plan in 2014, 23,000 new units of housing have been completed.
With an additional 9,700 units currently under construction, the City has
secured housing for an estimated 45,600 residents, making significant
progress in meeting Boston's rapid population growth.
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