The project involves redeveloping a 5.5-acre site located near the Brookline town line, and will include some new construction as well as rehabilitation of some existing structures and the creation of an 18,000-sf public green. 44% of the units will be affordable for 40 years.

MassHousing will provide a construction loan and permanent financing to Allston Corey Development LLC, which is a joint venture between the Archdiocese of Boston, the city's Planning Office for Urban Affairs and Edward A. Fish Associates. The partnership was formed for developing and owning St. John of God.

The project will also receive other forms of funding including $4.9 million from the sale of Low Income Housing Tax Credits and $ million from the state's Affordable Housing Trust Fund. Additional funding will come from the city's Linkage Funds, which will provide $600,000, along with $1 million in city HOME funds, and $750,000 in state HOME funds.