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Tue, Jan 26
A Compendium of Property & Capital News
Jan 26
A Compendium of Property & Capital News

Urban Edge Begins Construction of 62 Affordable Housing Units on BHA’s Holtzer Park

December 04, 2020
Holtzer Park Rendering

BOSTON – Urban Edge began on Holtzer Park, a 62-unit affordable housing development near Jackson Square in Jamaica Plain. Holtzer Park is part of the Boston Housing Authority’s (BHA) 125 Amory Street redevelopment, a joint venture between The Community Builders (TCB), Jamaica Plain Neighborhood Development Corporation (JPNDC), and Urban Edge. The project has been made possible with the generous support from a number of public and private financing organizations, including the City of Boston, Massachusetts Department of Housing and Community Development (DHCD), Community Economic Development Assistance Corporation (CEDAC), MassDevelopment, MassHousing, Massachusetts Housing Investment Corporation, Citizens Bank, Massachusetts Housing Partnership, the Federal Home Loan Bank of Boston (FHLBank Boston), Boston Private, The Life Initiative, and the U.S. Department of Housing and Urban Development (HUD).

“We are so grateful to the funders for Holtzer Park,” said Emilio Dorcely, Urban Edge’s Chief Executive Officer. “Through their assistance, we will bring new units of much-needed affordable housing to the Jackson Square neighborhood. Now more than ever, it is clear that quality affordable housing is a necessity in Boston’s Black and Brown communities, and we appreciate the support from both public and private institutions to make this project a reality.”

Named for the Holtzer-Cabot Electric Company, where on the site, electrical devices were manufactured in the 20th century, Holtzer Park will meet the U.S. Green Building Council LEED Homes Gold certifiable standard and utilize a high-efficiency heating system and building envelope. The development team for the project includes Urban Edge, ICON Architecture, and NEI General Contracting.

The project will cost an estimated $32 million in total, and has received more than $2.7 million in funding from the City of Boston Department of Neighborhood Development, $750,000 from the Neighborhood Housing Trust, and more than $15.8 million in State and Federal Low Income Housing Tax Credits and more than $5 million in subsidies from DHCD.

“MassDevelopment is proud to support the development of Holtzer Park, with both a $27,000 award from the Brownfields Redevelopment Fund last year to assess the site and a $17.2 million tax-exempt bond more recently to aid construction,” said MassDevelopment President and CEO Lauren Liss. “Holtzer Park will add critical affordable housing units for residents of Boston’s Jamaica Plain neighborhood, and we’re pleased to be part of a tremendous team of financing partners helping to make this project a reality.”