(To read more on the multifamily market, click here.)
BOSTON-An aging brick housing project built in the 1950s will be demolished and replaced by 266 rental units and 50 ownership units. The $98 million project will replace the Franklin Field housing development in Dorchester.
"I'm proud that we are building high-quality housing that people will be proud to call home, promoting economic development and revitalizing the entire community," says Mayor Thomas Menino in a statement. The project is part of the mayor's revitalization efforts for the Franklin Hill area, which hopes to improve resident's quality of life.
The Boston Housing Authority and locally based developer Trinity Financial will begin the first phase of the project in March with the construction of 114 rental units. Two buildings will hold 90 of the first 114 units, while the other 24 units will be rentable townhouses. The project is expected to be completed by the spring of 2008.
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