Angie Liou, executive director of the Asian Community Development Corp., speaks at Wednesday's ribbon-cutting at 88 Hudson St. in Boston.

A 51-unit development will provide homeownership units selling for under $200,000 in Boston’s Chinatown, a neighborhood under pressure from gentrification and conversion of apartments into short-term rentals.

Asian Community Development Corp. led the 88 Hudson St. project on parcel 24, which became available from the Massachusetts Department of Transportation following the completion of the Central Artery Tunnel project. The latest phase includes a mix of one- through three-bedroom condos restricted to households earning from 60 to 100 percent or less of the area median income, with sales pricing ranging from under $200,000 to $235,000.

The financing package included a contribution from the city of Boston totaling more than $6 million including $5.9 million from inclusionary development funds and $750,000 from the City of Boston’s Neighborhood Housing Trust, $2.1 million from the Massachusetts Department of Housing and Community Development and Housing Stabilization Funding and $1.9 million in Affordable Housing Trust Funds. Eastern Bank provided an $8.9 million construction loan  and CEDAC provided predevelopment financing for the project.

The first phase of parcel 24, the One Greenway project, was completed in 2015. That phase included 312 apartments, including 95 affordable units and 3,300 square feet of retail space.