WinnDevelopment and Arch Communities have begun construction on a 56-unit mixed-income development in Braintree, Massachusetts.
The Eastwalk will feature a mix of one-, two-, and three-bedroom apartments, including 30 units available to households earning up to 60% of the area median income(AMI), 16 of which are eligible for project-based assistance; 20 middle-income/workforce units for those earning up to 120% of the AMI; and six units available at market rates.
“Braintree town officials and planners have been unwavering in their pursuit of a development that would not only provide quality apartment homes for a range of households but also create a community asset for the neighborhood,” said WinnDevelopment executive vice president Adam Stein. “We’re grateful to our joint-venture partner, Arch Communities, and the many public and private partners who stood alongside WinnDevelopment over the course of several years to move this project into the construction phase.”
The five-story apartment community is being built on the former longtime location of the Braintree Electric Light Department and will create a pedestrian riverwalk along the Monatiquot River, with gathering areas allowing greater public access and improvements to the existing riverfront seawall.
“We’re thrilled to be providing this much-needed mixed-income housing for the Braintree community at such a challenging time for individuals and families seeking safe and affordable housing,” said Rich Relich, owner of Arch Communities. “The redevelopment of this long-vacant parcel will further the economic growth of the Weymouth Landing district and will provide future residents with easy access to the district’s amenities, including mass transit. Without the strong support from our partners, the development of mixed-income properties like this wouldn’t be possible.”
To move the $47 million project forward, the Massachusetts Executive Office of Housing and Livable Communities provided federal and state low-income housing tax credits (LIHTCs) and soft funding, including Housing Stabilization Funds.
Webster Bank is serving as the construction lender, U.S. Bank is the state LIHTC investor, and Boston Financial is the federal LIHTC syndicator. The Community Economic Development Assistance Corp. delivered Facilities Consolidation Funds, while the Massachusetts Housing Partnership provided transit-oriented development funds. In addition, the South Shore HOME Consortium delivered local HOME funds in support of the project.
MassHousing is serving the permanent lender for the project. The agency also provided funding through its Workforce Housing Program and through the American Rescue Plan, administered via the Affordable Housing Trust.
The Eastwalk will be designed to be certified under passive house and Energy Star Multifamily New Construction standards, prioritizing energy efficiency to help curb emissions and utility costs. The project will incorporate solar-ready principles and be evaluated for future solar photovoltaic installation. It will open with five electric vehicle charging stations with additional conduit ready to meet future demand.
Keith Construction is serving as general contractor for the project, using designs from The Architectural Team. Weston & Sampson is the civil and geotechnical engineer for the project.
