140 Clarendon Street inauguration celebrated

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Mayor Michelle Wu joined Governor Charlie Baker, Beacon Companies CEO Dara Kovel, The Pine Street Inn CEO Lydia Downie and local elected officials to inaugurate 140 Clarendon Street, a redevelopment project that will create 210 units affordable housing at Boston’s historic Young Women’s Christian Association (YWCA) building, located at the intersection of Clarendon and Stuart streets in Back Bay. Thanks to the partnership of homeless service provider Pine Street Inn, 111 of the units will become supportive housing for people coming out of homelessness.

“Housing stability must be the foundation of our recovery,” said Mayor Wu. “Today’s inauguration shows what is possible when we work with different sectors and levels of government to create much-needed affordable housing. in our neighborhoods. This project will provide much-needed housing and services to homeless residents.

Once the renovation is complete, the development will create 210 affordable apartment units, of which 111 apartments will be reserved for people currently experiencing homelessness, and 99 apartments will be for residents with incomes significantly below the median income in the region. Housing for former homeless people will be complemented by support services provided by the Pine Street Inn.

The Boston Housing Authority is providing Project-Based Vouchers (PBVs) to all units in the new development. Project-based vouchers subsidize units and allow low-income families to purchase units that would otherwise be too expensive for them. The vouchers represent an annual grant of $ 6.3 million that will ensure that these vulnerable residents can be housed in a stable manner for years to come.

The YWCA Boston building was constructed between 1927 and 1929 and served as the headquarters of the YWCA for almost a hundred years. In addition to the housing units, the Beacon Residential Management offices will occupy the space on the first floor of the building. All other cultural and educational organizations currently in the building, including the Lyric Stage Theater Company, Snowden School, a City of Boston charter school, Viga Restaurant, Honovan Tailor, Resource Connection and the offices of the YWCA will remain in place.

“This project is a fine example of collaboration between public and private partners to offer the neighborhood a unique asset by maintaining a cultural institution and offering a solution to homelessness: housing with services for our most vulnerable neighbors. Governor Charlie Baker said. “We are delighted to support Beacon Communities and Pine Street Inn in this dynamic project that will benefit hundreds of people, and we look forward to continuing to work with local partners to create new homes and pursue innovative projects across the State to meet the diverse needs of our Commonwealth. . “

Beacon Communities, in partnership with Mount Vernon Company, will own the new development. It will be managed by Beacon Residential Management Limited Partnership. The redevelopment expands affordable housing in a high cost neighborhood. Through a service partnership with the Pine Street Inn, the resulting community will include one of the largest supportive housing communities in Boston.

“The Mount Vernon Company has been instrumental in securing and reinventing this important property as supportive housing for Boston’s most vulnerable,” said Bruce A. Percelay, president of Mount Vernon Company. “As a Boston resident and business owner, I see the need for this type of housing every day. 140 Clarendon Street is a victory for all Bostonians as we work to make sure everyone who lives here has the housing and services they need to be successful. We were proud to be a part of building this new community. “

“We have really appreciated the collaboration of our public and private partners, focusing on promoting city and state housing policies with thoughtful and creative problem solving to help us make this project happen,” said said Dara Kovel, CEO of Beacon. “We are thrilled with our partnership with Pine Street Inn, which is the first of its kind on this scale. “

“Pine Street Inn is thrilled to partner with Beacon Communities to provide permanent housing to over 100 chronically homeless people,” said Lyndia Downie, President and CEO of Pine Street Inn. “This partnership is a big step forward in our efforts to provide everyone with a safe and stable place to live, ensure they receive the services they need, and ultimately end homelessness in Boston.” . “

In 2003-2006, the YWCA undertook a major renovation of the property and created 79 affordable single and one-bedroom apartments, 39 market-priced apartments and a 66-room economy hotel. In honoring this building’s legacy, the Pine Street Inn and the Beacon Companies will now use the property to continue serving those in need. Deeply rooted in a commitment to social justice and service to others, these two organizations have partnered to combine the housing development expertise of Beacon Communities with the well-known track record of the Pine Street Inn to provide extensive support services to homeless. This innovative partnership was created with funding from the State of Massachusetts and the City of Boston.

“They say you need a village, and that’s certainly the case at 140 Clarendon Street. This project combines federal grants provided by BHA, services and management provided by community-based nonprofits, and development funding provided by the state, the City of Boston, and the private sector. It’s an incredible group of partners, ”said Kate Bennett, director of BHA. “Most importantly, this redevelopment effort will give hundreds of families a safe and affordable place to live in the Back Bay neighborhood. “

Funding for 140 Clarendon includes $ 6,000,000 in funding from the Massachusetts Department of Housing and Community Development; MassHousing provides a permanent loan of $ 37.2 million, a bridge loan of $ 20.3 million and financing of $ 500,000 from the Capital Magnet Fund; the City of Boston’s Department of Neighborhood Development is providing funding of $ 8,039,955; Bank of America provides Federal Low Income Housing Tax Credit and Historic Tax Credit in the amount of $ 43,975,833; and the Commonwealth is providing $ 23,575,000 of the state’s equity low-income housing tax credit.

“MassHousing is excited about the 210 households that will soon have quality, affordable rental housing in the heart of Back Bay,” said Chrystal Kornegay, General Manager of MassHousing. “This collaborative effort between Beacon Communities and all of the project partners will not only breathe new life into this historic building, but will also create housing stability for anyone who calls 140 Clarendon into their home. “

“Affordable housing development is a team sport, and the cooperation and dedication to make this project happen is an incredible testament to the strong affordable housing ecosystem in Massachusetts,” Housing and Economic Development Secretary Mike Kennealy said. “Today’s project is the result of creative strategies to deliver life-saving services to the most vulnerable among us, and I am delighted that we can support this innovative approach that strengthens our efforts to tackle homelessness and address the lack of affordable and supportive housing we need. to help people succeed across Massachusetts.

The rehabilitation of the building will be completed for the Secretary of Interior Standards for Historic Preservation and Development using federal historic tax credits. Construction is expected to be completed in 2024.

About the Department of Neighborhood Development (MDN)

The Department of Neighborhood Development is responsible for housing the homeless, creating and maintaining affordable housing, and ensuring that tenants and landlords can obtain, maintain and stay in safe and stable housing. The department develops and implements the City of Boston’s housing creation and homelessness prevention plans and works with local and national partners to find new solutions and build more affordable housing for all, especially for low income people. For more information, please visit the DND website.

About the Boston Housing Authority

The Boston Housing Authority (BHA) is a government agency that provides subsidized housing to low and moderate income individuals and families. In addition to Boston’s classic public housing communities, BHA offers rental assistance programs. BHA receives federal and state funds to provide housing programs to individuals and families. BHA’s mission is to provide stable and quality affordable housing to low and moderate income people; provide these services with integrity and mutual accountability, and create living environments that serve as catalysts for the transformation from dependence to economic self-reliance.


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