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YWCA Housing Project Secures $52M in Financing

BOSTON-The YWCA nails down $52 million in financing for its plan to renovate and add residential units to its headquarters location at 140 Clarendon St. The city says it is the single largest private affordable housing project here.

By Naomi Grossman | Updated on March 03, 2004

BOSTON-The YWCA’s headquarters location at 140 Clarendon St. in the city’s Back Bay neighborhood will no longer be just a temporary haven for travelers looking for an inexpensive place to spend the night. The organization has put together the financing it needs to develop a 127-unit affordable housing project as part of a renovation of the 75-year old building. The city says it is the single largest private affordable housing project in Boston.

“Leading the redevelopment of our historic headquarters is a milestone in the history of the first YWCA in the nation,” says Marti Wilson-Taylor, president and CEO of YWCA Boston. The YWCA started out as the Pioneer Hotel for Women. This building became coed in the 1970s.

Mayor Thomas M. Menino emphasizes that the plan underscores Boston’s commitment to alleviating the city’s affordable housing shortage. “Together we can create affordable housing even in one of the city’s most sought-after neighborhoods,” he notes.

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