Nonprofit Hebrew SeniorLife said its effort to bring 96 units of permanently affordable housing with supportive services for older adults in Stoughton has received allocations of state and federal low-income housing tax credits and additional subsidies from the Commonwealth of Massachusetts.
The Healey-Driscoll Administration has announced $182 million in low-income housing tax credits and subsidies to 21 rental housing developments, including the one in Stoughton, that will create or preserve 1,245 homes across Massachusetts.
To be located at 338 Canton St. on currently undeveloped land, the Stoughton site will offer nine units for people aged 62 and older. All will be reserved for older adults earning less than 60% of Area Median Income (AMI), with 36 units reserved for those earning less than 30% of AMI.
Hebrew SeniorLife said approximately 5,300 older adults are on the Stoughton Housing Authority’s waitlist for affordable housing, and therefore the need is “urgent.” Current plans anticipate construction to begin in 2026, with the opening targeted for 2027.
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The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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