Quincy Center will soon be getting 34 new affordable housing units.
The project is being developed by the Asian Community Development Corp. and will involve the gut renovation of two existing structures at 6 Fort St., according to a statement. The outer building shell and existing framing will be preserved. In construction, the two buildings will be joined with an enclosed bridge.
The Massachusetts Housing Investment Corp. (MHIC) is providing an equity investment of $5.7 million in financing; State Street Bank is providing $1.8 million in state low-income housing tax credit equity; and Wainwright Bank and the Life Initiative are providing a construction loan, according to a statement. Financing is also being provided by the Massachusetts Housing Partnership Fund, the state Department of Housing and Community Development and by the city of Quincy. The total development cost is $11.4 million.
The Fort Street affordable housing development is expected to be completed in September.





