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Franklin Hill Gets $45M, 152 New Units

DORCHESTER, MA- Enterprise Community Investment Inc. will provide $45 million for Franklin Hill Phase II, which will create 152 new affordable rental units.

By Ryan Clark | Updated on June 17, 2008

DORCHESTER, MA-Enterprise Community Investment Inc. is partnering with Trinity Financial, Inc and the Boston Housing Authority to build 152 new affordable rental units at Franklin Hill here. Enterprise will invest $45-million, its largest Low-Income Housing Tax Credit equity to date, to assist in the construction and redevelopment Franklin Hill Phase II.

“We are very excited about the positive impact that this redevelopment will have on Franklin Hill residents and surrounding Dorchester community,” said Kenan Bigby, project manager for Trinity Financial, in a statement. Trinity and the Boston Housing Authority completed Phase I of the Franklin Hill redevelopment, consisting of two buildings with 90 affordable housing units and 24 rentable townhouses.

The project will be separated into two sections. Franklin Hill 2A will have a five-story apartment building and eight townhouses on four acres. Of the 114 total units at site 2A, 110 will be available to households at or below 60% of the area median income. Households between 60% to 80% of area median income can choose between the four units still available. The total development cost of site 2A will be $42 million.

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