As Funding Wanes, Developers Face Downsizing Decisions
Facing reluctant investors and lenders, developers are pursuing changes designed to salvage projects teetering on the brink of financial feasibility.
Subscriber Spotlight: Angie Liou
Angie Liou heads up Chinatown’s biggest community-based housing developer, Asian Community Development Corp.
Hot Property: 55 Hudson St.
Asian Community Development Corp.’s 55 Hudson St. project broke ground recently. The building will create 110 affordable homes and bring a permanent branch of the Boston Public Library to Chinatown.
BPDA Approves 23-Story NU Dorm, 1.4M SF of Labs
A new Northeastern University dorm tower in Roxbury and lab developments in Charlestown and South End received approval from Boston Planning & Development Agency directors.
Housing Advocates, Developers Wary of IDP Changes
Developers say Boston’s newest version of a plan to increase affordability requirements will virtually halt housing development thanks to tough financing conditions.
State Grants for 1.6K Homes Announced
A huge batch of state grants for 27 different projects announced Thursday will see 1,597 affordable and mixed-income housing units built or preserved.
Redevelopment of BFIT Campus Approved in South End
The Boston Planning and Development Agency approved seven projects that will create 485 housing units, including a three-building redevelopment of Benjamin Franklin Institute of Technology Campus in South End and an affordable housing tower in Chinatown.
Library Branch Resurfaces in Chinatown Housing Proposal
A parking lot in Boston’s Chinatown will be redeveloped with a new permanent Boston Public Library branch and 110 income-restricted homes under a pending proposal by the Asian CDC.
BPDA Approves Lab Projects, Chinatown Housing Developer
The Boston Planning and Development Agency approved a life science project near Charlestown’s Sullivan Square and picked development teams for a lab project in the South Boston marine park and housing on a city-owned parcel in Chinatown.
Projects Maximize Potential of Chinatown Parcels
Luxury towers have eroded Chinatown’s working-class housing stock for years. Now, a pair of proposals would generate a combined 328 affordable units as officials and community groups seek to address the housing crisis through surplus property dispositions.
Nonprofit Wins Bidding War for Chinatown Property
Advancing housing affordability and stabilization is a long game that requires collaboration, creative solutions, and quick interventions. In February, Asian Community Development Corp. successfully did just that when it acquired an occupied private building in Chinatown.
Millennium Flips Winthrop Center Tower Back to Condos
Millennium Partners will begin marketing 317 luxury condos at its $1.3 billion Winthrop Center skyscraper in Boston in April, amid a recovery of the downtown market.
Nonprofit Hails Rare Win in Chinatown Displacement Battle
The acquisition of a Chinatown apartment building is a milestone for the neighborhood’s attempts to fight displacement and loss of housing affordability, according to a local nonprofit that took ownership this month.
Six Proposals Received for Downtown MassDOT Parcel
Six developers have submitted proposals for a state-owned parcel at the doorstep to downtown Boston, and in keeping with the dominant trend in local commercial real estate, five include a lab component.
Housing Developer Says Chinatown Project Stalled Without Changes
A 168-unit affordable housing and hotel tower planned for a city-owned parcel in Boston’s Chinatown is unlikely to move ahead because of rippling effects of the COVID-19 pandemic, at a time when eviction pressures are squeezing neighborhood residents.
Winthrop Center Project Has Far-Reaching Effects
What does an MIT professor, an African American-owned cleaning company, a Chinatown affordable housing project and a 1.4 million-square-foot tower in Downtown Boston have in common? The answer: everything.
Winthrop Square Tower Will Subsidize Affordable Housing In Chinatown
Part of Millennium Partners’ affordable housing obligation from construction of its $1.3-billion Winthrop Center skyscraper in Boston’s Financial District will support development of a 152-unit apartment and condo tower in Chinatown.
Celebrating Asian Women and Addressing Challenges in the Workplace
Eastern Bank last month hosted an event called the Asian American Women Leaders of Massachusetts to celebrate Asian American Pacific Islander Heritage Month.
City’s Winthrop Square Windfall Could Reach $166M
Final designs for Millennium Partners’ 1.6-million-square-foot skyscraper in Boston’s Winthrop Square call for a 691-foot structure including 500 luxury condominiums and 750,000 square feet of office space, as developers kicked off the formal review with state and city regulators.
Chinatown Development Includes 51 Affordable Condos
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.
