According to local published reports the development will be comprised of 340 units but a representative of the city's Department of Neighborhood Development could not confirm that number, noting that the plans are "very preliminary." The representative tells GlobeSt.com that the GBIOP and Nehemiah, a company that develops affordable housing, is looking to acquire a city-owned parcel here, with the likelihood being that the project will be developed on scattered sites. He points out that the organizations are looking to develop the project to provide the city with additional affordable housing units.
The city's lack of affordable housing has become a more pressing issue recently and City Mayor Thomas M. Menino has said that he is making it one of his administration's priorities.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
