Beacon Communities has completed the final two phases of new housing at Island Creek Village in Duxbury, adding 214 elderly and family units to the existing 106 units built in the 1980s.
MassHousing provided approximately $21 million in financing for the Bodhi, a 94-unit development for residents age 55 or older and the Elm, a 120-unit development that is not age restricted. Of the 214 new units, 143 are affordable to households earning at or below 60% of the Area Median Income (AMI), of which 31 of those units will be for households earning at or below 30% AMI. The median income for Duxbury is $98,100.
The Agency additionally provided $2 million in financing from the Affordable Housing Trust Fund, which MassHousing manages of behalf of the state Department of Housing and Community Development (DHCD).
All of the units at Island Creek Village were built through Chapter 40B. The reconfiguration of the property to allow for the 214 new units received strong support from the town of Duxbury.
Both the Bohdi and the Elm received additional financing from the use of state and federal Low-Income Housing Tax Credits. The Elm also received $2.4 million in financing from Bank of America.
Both developments were built by Keith Construction. John Keith developed the original 106-unit Island Creek Village East and West, which was also financed by MassHousing in the early 1980s.