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West Roxbury To Remain Affordable Following Acquisition

Dec 16, 2016 | Reprints | Unlock Link

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Rockingham Glen, a 143-unit mixed-income community in West Roxbury will maintain its affordability after being purchased with $27.6 million in MassHousing financing.

Beacon Communities LLC purchased Rockingham Glen with an exemption from Chapter 40T from the state Department of Housing and Community Development, which will ensure the affordable apartments will not convert to market rates.

As part of the transaction, the buyer increased the number of apartments for lower-income households earning at or below 50 percent of the area median income (AMI) from 7 to 29. Additionally, 14 apartments are rented to moderate-income residents earning at or below 80 percent AMI. The remaining 100 apartments are rented at market rates.

There are 94 one-bedroom apartments, 48 two-bedroom apartments and one studio. Seven of the apartments will be renovated to meet accessibility requirements.

B&T Daily