News
Olmsted Green Growing
July 26, 2010
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| Is the governor shopping for an official residence? Perhaps not, but at Olmsted Green, where 50 units of affordable rental housing were recently completed, Gov. Patrick was chatting with developer Kirk Sykes, president of Urban Strategy America Fund, a unit of New Boston Fund, which is doing this development in a JV with Lena Park Community Development. Fifty more affordable apartments will start construction late this year, using $5.2M in federal and state subsidies and tax credits. The apartments are part of a 42-acre mixed-use, mixed-income community being developed on the site of the old Boston State Hospital in Dorchester. In a region where housing is expensive, the production of lower cost units is rare and welcome. For each new apartment available at Olmsted Green, there have been eight applicants, Kirk says. |
