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Depot Village in Hanson is expected to be completed in 2021. Rendering courtesy Dakota Partners.
Waltham-based real estate developer Dakota Partners has acquired an affordable housing project currently under development in Hanson.
Construction of Depot Village began this spring. Expected to be completed next year, the project at 171 Phillips St. will include 48 apartments: 12 one-bedroom units, 31 two-bedroom units and five three-bedroom units. The building also aims to meet passive house standards.
“Depot Village will be the first family-affordable housing development in this area,” Dakota Principal Robert Artist said in a statement. “We’re excited for the opportunity to provide much-needed, quality housing for an underserved population whose household income is typically between 60 percent and 100 percent of the median area income and the need for quality affordable housing is most pressing.”
State financing for Depot Village comes from tax credits and the affordable housing fund announced in July 2019. The Massachusetts Housing Partnership also committed $2.4 million in permanent financing to Dakota Partners for the construction.
