The new development will yield nearly 500 new housing units on the property and will direct over $150 million of new investment to the area. "Creating more housing is critical to the success of the Massachusetts economy," says Gov. Mitt Romney. "We are on a mission to double housing starts in the Commonwealth and this new partnership is a great step forward in reaching that goal."
Under the agreement, Lena Park Community Development Corp. and New Boston Development Partners, LLC under the name of Olmsted Green, have been formally designated by Commissioner David B. Perini of the state Division of Capital Asset Management as the lead developer for 35 acres of the hospital grounds. At the same time, the city has agreed to support legislation to allow Stony Brook, LLC, the second development team, to develop the last 20 acres of the campus. The 20-acre site had originally been slated for a new high school, but Mayor Thomas M. Menino has agreed to waive the city's right to the site, provided that it is redeveloped primarily for housing.
"The mayor deserves a lot of credit for giving up that 20 acres," Kevin Flanigan, a deputy director of the state Division of Capital Asset Management tells GlobeSt.com.
Lena Park is a locally based and minority-run community development corporation while New Boston Development Partners is a locally based real estate development firm. The Lena/New Boston team includes several local organizations such as Revision House, Webster Engineering, City Fresh Foods and Vinfen. The Olmsted Green proposal calls for nearly 300 new affordable and market rate housing units, supportive housing for mental health clients, a recreation center, job training facilities and other uses.
The Stony Brook team brings together a number of local religious-based housing advocacy and development groups, including the Christian Urban Economic Partners, and three of the largest African-American churches in greater Boston along with the Mattapan Community Development Corporation. The proposal for the 20 acres will create approximately 200 units of affordable and market rate housing, along with retail uses.
As part of the agreement, Romney and Menino will support legislation that will allow development of the balance of the site to proceed. The former hospital site currently supports a number of development projects including a nature center on 60 acres of the property. The University of Massachusetts is overseeing construction of a new biologics lab on 20 acres and a local developer, Cruz, has broken ground on approximately 100 units of housing on 18 acres of the site.
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