MassHousing Blog

MassHousing Helping to Promote Homeownership in New Bedford

By Tom Farmer
Corporate Communications, MassHousing

NEW BEDFORD – The before and after photos of 217 Cottage Street are striking.

Before the formerly vacant home was reclaimed and renovated, it was overgrown with vegetation and its clapboard siding and roof were in serious disrepair. The inside of the four-bedroom dwelling was even worse, with trash strewn about and the walls and floors seriously decayed.

Before and after photos of 217 Cottage Street in New Bedford

But what was once an eyesore on the Cottage Street neighborhood is now a gleaming, completely refurbished new home for a first-time homebuyer as a result of a partnership between the city of New Bedford, the Massachusetts Attorney General, MassHousing, the New Bedford/Fall River Housing Partnership, and the non-profit The Resource Inc. (TRI).

"This house has been abandoned for more than four years and if you have seen the before and after pictures you know there has been a little bit of a miracle that has taken place," said Attorney General Martha Coakley. "Some lucky family is going to be able to move into this home and what's wonderful about that is not just for that family but for this neighborhood."

New Bedford Mayor Jon Mitchell and Massachusetts
Attorney General Martha Coakley

When the elderly woman who last owned the home passed away with no will and no apparent heirs, the property soon fell into disrepair and became abandoned. It was reclaimed through the Attorney General's Receivership Program and the city's Office of Housing and Community Development.

The home was purchased and rehabbed by the non-profit TRI and TRI is now accepting applications from first-time buyers who will be entered into a lottery with the winner getting the chance to buy the home at the discounted price of $167,500.

Renovations included new roofing and siding, insulation, energy efficient windows, a new kitchen and two new bathrooms with energy efficient appliances and fixtures and a new energy efficient heating system.

The potential buyers are being pre-approved by local lenders through MassHousing and the New Bedford/Fall River Housing Partnership's Buy New Bedford Program. To date, the Attorney General's Receivership Program has been involved in nearly 50 abandoned or distressed properties in New Bedford with eight having a receiver appointed to rehabilitate the property and in many other cases the AG's involvement has spurred banks or owners to make necessary repairs.

"Getting foreclosed and abandoned properties back in shape for new homebuyers is critical for neighborhoods across Massachusetts,' said MassHousing Executive Director Thomas R. Gleason. "It takes a collaborative effort like you see here with 217 Cottage St. We're very pleased to be able to provide mortgage financing for these new homebuyers. By partnering with the Attorney General, the city of New Bedford, the New Bedford/Fall River Housing Partnership and TRI, we can restore these properties and revitalize neighborhoods."

MassHousing Home Ownership Business Development Officers Goretti Joaquim and Angelo Nuby

The rehabilitation of 217 Cottage St. was particularly satisfying for New Bedford Mayor Jon Mitchell, who lives in the neighborhood and drove by the blighted home every day.

"It has been eyesore for a long time," he said. "Somebody will be the lucky owner of this place. More than anything else the Receivership Program is a response to the foreclosure crisis we had in 2008 all across America that played out in neighborhoods like this one where abandonment and foreclosure have had enormous ripple effects. This is a very cost effective use of public funds, both city and state, and private funds, that will allow this neighborhood to rejuvenate."

Voke Lofts Completed in Worcester

84-unit, mixed-income rental community is another piece of downtown Worcester's revitalization

By Tom Farmer
Corporate Communications, MassHousing

WORCESTER – The revitalization of downtown Worcester took another major step with the recent opening of the 84-unit Voke Lofts apartment community.

Developed by WinnDevelopment of Boston, Voke Lofts involved the adaptive reuse and historical preservation of the former Worcester Vocational Technical School located at 34 Grove St.

MassHousing provided $20 million in financing for the development, including $2 million from the Affordable Housing Trust Fund, which MassHousing manages on behalf of the state Department of Housing and Community Development (DHCD).

"Voke Lofts has transformed a historic, vacant former school into vibrant, workforce housing and is another important milestone in the city of Worcester's ongoing effort to revitalize the Northern Main Street area," said MassHousing Executive Director Thomas R. Gleason. "We are very pleased to have been a partner in this project with the city and WinnDevelopment, which has resulted in an important housing resource that will serve the city and its residents for many years into the future."

Voke Lofts, Before...

Voke Lofts, After...

WinnDevelopment purchased the property from the Worcester Development Corp. The school was built in 1910 and is listed on the National Register of Historic Places. The development team incorporated many of the building's historic features into the new building, including large windows, exposed brick and ceiling beams. The development is comprised of 50 one-bedroom units, 31 two-bedroom units, and three three-bedroom units.

"This is a great day for Winn and the city of Worcester, said Gilbert Winn, Managing Principal of WinnCompanies. "The school is an important part of Worcester's past and we're honored to preserve the character of the building in its latest incarnation, which brings much needed, quality housing to the city."

U.S. Rep. James McGovern said housing is a major component of revitalizing the city's downtown.

"A successful downtown will mean having more people living downtown," he said. "I can't wait to see all these units filled with happy tenants who will be welcomed into this vibrant neighborhood with open arms, who will eat in the restaurants and shop at the stores on Main Street."

The sale of Massachusetts Historic Tax Credits, Massachusetts Low-Income Housing Tax Credits, Federal Historic Tax Credits and 4% Low-Income Housing Tax Credits generated $25.4 million in equity for the project, which also received $1.3 million in financing from DHCD and $1.3 million from the city of Worcester.

"This is just a tremendous milestone in the road to revitalization of the city of Worcester," said DHCD Undersecretary Aaron Gornstein. "That renovation and revitalization of this building is going to spur increased economic activity around the entire neighborhood, which is going to be a tremendous boost to the small businesses."

Voke Lofts contains a number of energy-efficient features and Energy Star appliances, making the building LEED certifiable. Most the apartments have already been rented and the project created 100 construction jobs.

The contractor was Dellbrook Construction and the architect was The Architectural Team, Inc. The management agent is Winn Managed Properties, LLC.

Old Colony Redevelopment Completes Another Milestone

129 new apartments completed in second phase of project with 40 more under construction

By Tom Farmer
Corporate Communications, MassHousing

SOUTH BOSTON – The redevelopment of the Old Colony public housing community in South Boston has reached another milestone with 129 new apartments completed during the second phase of the project with 40 additional units now under construction.

The Boston Housing Authority, in partnership with Beacon Communities LLC of Boston, is completely redeveloping the 840-unit Old Colony, which was originally constructed in 1940 and is one of the oldest federal public housing developments in the country and also the most distressed property in the BHA's federal portfolio.

Old Colony is being redeveloped in multiple phases. The first phase of the Old Colony project replaced seven distressed and blighted apartment buildings with 116 new apartments for low-income families in one mid-rise building and four clusters of town homes. Phase One also included the construction of a new 10,000-square-foot community center, which is operated by the BHA.

Phase Two involved the demolition of 223 original Old Colony units and the new construction of 169 new apartments in 6 townhouse-style buildings, two elevator buildings and a walk-up building. A ceremony was held last month to celebrate the completion of the 129 new units and the start of construction of the remaining 40 units in Phase Two.

The new construction at Old Colony involves numerous energy-efficient technologies and the project meets the Enterprise Green Community Criteria, Leadership in Energy and Environmental Design (LEED) Building and Neighborhood Development Certification, and Energy Star Homes certification.

"New green and affordable housing and job creation make this a win-win for the city and its residents," Mayor Martin Walsh said.

MassHousing provided $33.4 million in construction financing for Phase Two with an additional $3 million from the Affordable Housing Trust Fund, which MassHousing manages on behalf of the state Department of Housing and Community Development (DHCD).

MassHousing provided $26.7 million in construction financing for Phase One with an additional $1 million from the AHTF.

"It is not often that you can redevelop and completely transform a neighborhood but that is being done at Old Colony," said MassHousing Executive Director Tom Gleason. "We are very pleased to be a funding partner with the BHA and Beacon Communities."

The Old Colony project has received more than $44 million from the federal Department of Housing and Urban Development in HOPE VI funding. The project has also received extensive funding from DHCD, and the city of Boston. U.S. Bank committed nearly $51 million of state and federal Low-Income Housing Tax Credit equity through its community investment subsidiary U.S. Bancorp Community Development Corporation (USBCDC).

"The finished product is absolutely beautiful," said BHA Administrator Bill McGonagle. "This has changed the face of the entire South Boston community."

"It's an amazing transformation of an entire neighborhood," agreed DHCD Undersecretary Aaron Gornstein.

Pam Goodman, president of Beacon Communities Development said efforts are underway to pursue financing to redevelop the remaining 453 original units at Old Colony.

"Beacon is proud of our team's work at Old Colony," she said. "We are committed to work with the city, BHA, residents and the state to develop a program that will enable us to complete the redevelopment of Old Colony."

Phyllis Corbitt, president Old Colony's resident association, praised the city and the development team for what has been accomplished so far. "Our motto around here is let's keep unity in our community," she said. "What has been accomplished here is truly amazing for the residents of Old Colony."

MassHousing Announces Loan Closing of $3.2 Million to Renovate the Mary Colbert Apartments for Low-Income Seniors in Charlestown

Residents will see major property improvements

By Tom Farmer
Corporate Communications, MassHousing

Low-income senior citizens living at the 30-unit Mary Colbert Apartments in Charlestown will see major improvements to the property as a result of a $3.2 million MassHousing construction and permanent loan.

The nonprofit Charlestown Economic Development Corporation owns the Mary Colbert Apartments, located at 20 Devens St. in Charlestown. The building was constructed in the 1870s and operated as a school until the 1970s. It was converted to senior housing in 1982 as a HUD Section 202 assisted development and all 30 units are subsidized by a HUD Section 8 Housing Assistance Payment Contract that runs through 2032.

Among the renovations planned for the property are the repair of exterior brick walls, replacement of the original slate roof and windows, installation of new electrical breaker panels and ADA improvements to a common kitchen and laundry area.

"The Mary Colbert Apartments are generally in good condition but the property does need some significant renovations," said MassHousing Executive Director Thomas R. Gleason. "With long-term affordability already in place, these improvements will restore the property to a top-quality affordable housing community for the senior citizens who live there."

Construction is expected to be completed over the next 12 months. The contractor is Consigli Construction. The architect is Arthur Vogt of Spencer and Vogt Group and the management agent is Barkan Management Company.