A $31 million, 71-unit mixed-income rental property, which opened late last month in Lynn, Mass., is the first development funded by MassHousing’s $100 million Workforce Housing Initiative, through which the administration of Massachusetts Gov. Charlie Baker has pledged to build 1,000 workforce housing units.
This program targets individuals and families with incomes of 61% to 120% of the Area Median Income (AMI), who don’t qualify for other affordable housing programs. MassHousing confirms that the Initiative provided $1.6 million in subsidies for the 10 workforce housing units in the abovementioned apartment building, known as Gateway North Residences.
Lynn is a working-class, minority-majority town of 92,000 people whose average age is around 34. Its median household income is just under $51,000, but the town also has a 20% poverty rate, according to statistics compiled by Data USA.
Eight of the units in the five-floor Gateway North went to homeless people whose incomes were less than 30% of AMI. Forty-five of the units are reserved for lower-income households up to 61% of AMI. Each of these renter groups will pay lower rents as a result of tax credits and subsidies provided by state and local authorities.
The rents for eight of the units are market rate.
According to Gateway’s website, the 18 one-bedroom apartments range from 627 to 777 sf; the 46 two bedrooms from 865 to 900 sf; and the seven three-bedroom units from 1,238 to 1,300 sf. Market-rate rents range from $1,700 to $2,950 per month. Mixed-income gross rents, prior to subsidies, run from $1,200 for a one bedroom to $1,963 for three bedrooms.
The apartment building is located across from North Shore Community College and a short walk to the Central Square commuter rail station. The project was created in response to the Washington District Master Plan, initiated by Lynn Housing and Neighborhood Development, funded by the state Department of Housing and Community Development, and executed by Sasaki Associates.
Washington Gateway Associates LP is owned by partners Neighborhood Development Associates and Hub Holdings LLC. Lynn Housing and Neighborhood Development is managing the building.
The Building Team on this project included The Architectural Team (design architect), Bilt Rite Construction (GC), Wakefield Beasley & Associates (MEP), and Veitas and Veitas Engineering (SE).
Michael Lui, AIA, NCARB, Vice President and Principal with The Architectural Team, notes that this project dates back to 2013, when the developers acquired 2.5 acres of vacant land in the heart of Lynn’s Central Square.
Lui says that what was different about Gateway North, from other workforce projects his firm has worked on, was the collaboration between the state and local housing authorities., which he says made the design and construction processes somewhat easier “because both sides had the same goal.”
MassHousing so far has committed $57.5 million in workforce housing funds to 25 projects located in 14 cities and towns in Massachusetts. The funds will help to build 2,309 housing units, including 616 new workforce housing units.
Related Stories
Multifamily Housing | Mar 10, 2015
Multifamily renovation now drives growth for national restoration business
Response Team 1 has established a national footprint through acquisitions.
Retail Centers | Mar 10, 2015
Retrofit projects give dying malls new purpose
Approximately one-third of the country’s 1,200 enclosed malls are dead or dying. The good news is that a sizable portion of that building stock is being repurposed.
Architects | Mar 9, 2015
Study explores why high ceilings are popular
High ceilings give us a sense of freedom, new research finds
Transit Facilities | Mar 4, 2015
5+design looks to mountains for Chinese transport hub design
The complex, Diamond Hill, will feature sloping rooflines and a mountain-like silhouette inspired by traditional Chinese landscape paintings.
Multifamily Housing | Mar 3, 2015
10 kitchen and bath design trends for 2015
From kitchens made for pet lovers to floating vanities, the nation's top kitchen and bath designers identify what's hot for 2015.
Sponsored | Modular Building | Mar 3, 2015
Modular construction brings affordable housing to many New Yorkers
After city officials waived certain zoning and density regulations, modular microunits smaller than 400 square feet are springing up in New York.
Modular Building | Feb 23, 2015
Edge construction: The future of modular
Can innovative project delivery methods, namely modular construction, bring down costs and offer a solution for housing in urban markets? FXFOWLE’s David Wallance discusses the possibilities for modular.
Multifamily Housing | Feb 23, 2015
Millennials to outgrow Baby Boomers in 2015
The Baby Boomer generation, once the nation's largest living generation, will be outpaced by the Millennials this year, according to the Pew Research Center.
Multifamily Housing | Feb 19, 2015
Is multifamily construction getting too frothy for demand?
Contractors are pushing full speed ahead, but CoStar Group thinks a slowdown might be in order this year.
Multifamily Housing | Feb 18, 2015
Make It Right unveils six designs for affordable housing complex
BNIM is among the six firms involved in the project.