$20M Chinatown Project Will Add 51 Affordable Housing Units


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A 51-unit condo complex in Boston’s Chinatown neighborhood will create new housing options for families earning 60 to 100 percent of the area median income.

Boston-based Asian Community Development Corp. (ACDC) is leading the $20 million project at 88 Hudson St. The 6-story building will include 20 one-bedroom units, 22 two-bedroom units and nine three-bedroom units, including handicap-accessible units.

The project team consists of ACDC as the developer, Maloney Properties as broker and management company, Utile as the architect and NEI as general contractor. The project was financed by the state Department of Housing and Community Development, the city of Boston’s Department of Neighborhood Development, construction financing from Eastern Bank and predevelopment financing from Community Economic Development Assistance Corp.

content_88-hudson-affordable-condos-bostonA majority of the condominiums will be reserved for families earning 80 percent or less of the area median income. Completion is expected in late 2017.

88 Hudson is part of ACDC’s efforts to restore affordable housing in Chinatown, where apartments were demolished in the 1950s and 1960s to make way for highway projects.

Eligible applicants will be selected through a lottery. Interested parties can sign up for email alerts to request an application.

 



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$20M Chinatown Project Will Add 51 Affordable Housing Units

by Banker & Tradesman time to read: 1 min
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