Boston-based Trinity Financial is the recommended pick for a $495-million development at a Charlestown property that is the first major test of Mayor Michelle Wu’s program to turn surplus municipal real estate into affordable housing.
Two development teams will deliver pitches this month to build up to 757 apartments and condominiums on a Charlestown parcel spotlighted in Boston Mayor Michelle Wu’s push to create affordable housing on city-owned properties.
Boston officials have begun the formal process of selecting a developer for an 5-acre Charlestown site that’s the showpiece of Mayor Michelle Wu’s plan to stimulate housing production through public property dispositions.
A centerpiece of Boston Mayor Michelle Wu’s new surplus property program has the potential for development of up to six housing towers in Charlestown, and developers that include a major affordable component would be eligible for enhanced city funding.
