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
Giants 400 | Sep 10, 2015
MILITARY SECTOR GIANTS: Clark Group, HDR, Fluor top rankings of nation's largest military sector AEC firms
BD+C's rankings of the nation's largest military sector design and construction firms, as reported in the 2015 Giants 300 Report
Multifamily Housing | Sep 4, 2015
Seattle releases affordable housing ‘grand bargain’ between developers, advocates
Includes linkage fee to further goal of constructing 6,000 new affordable units.
Retail Centers | Aug 31, 2015
Urban developers add supermarkets to the mixes
Several high-rise projects include street-level Whole Foods Markets.
Multifamily Housing | Aug 27, 2015
Architects propose shipping container tower to replace slums
The firm says approximately 2,500 containers would be needed to complete the design, which aims to accommodate as many as 5,000 people.
Mixed-Use | Aug 26, 2015
Innovation districts + tech clusters: How the ‘open innovation’ era is revitalizing urban cores
In the race for highly coveted tech companies and startups, cities, institutions, and developers are teaming to form innovation hot pockets.
Multifamily Housing | Aug 25, 2015
London multifamily building to have transparent swimming pool designed by Arup
Residents and visitors will be able to swim 10 stories above ground, and see views of London.
Sponsored | Multifamily Housing | Aug 25, 2015
Engineered wood helps meet booming demand for multifamily projects
Multifamily housing starts reached 358,000 in 2014, a 16 percent increase over 2013 and the highest total since 2007
Sponsored | Fire-Rated Products | Aug 24, 2015
Of Sky Garages and Dezervators: Porsche Design Tower sets a new standard of cool with the help of fire rated glass
The 60-story, 132-residence luxury Porsche Design Tower designed by Sieger Suarez Architects promises to deliver a new standard of cool.
Multifamily Housing | Aug 10, 2015
SOM, Woods Bagot part of mega multifamily development planned for San Francisco's west side
The first 1,000 residential units will kickoff a decade-long plan to add 5,6779 new housing units.
Giants 400 | Aug 7, 2015
MULTIFAMILY AEC GIANTS: Slowdown prompts developers to ask: Will the luxury rentals boom hold?
For the last three years, rental apartments have occupied the hot corner in residential construction, as younger people gravitated toward renting to be closer to urban centers and jobs. But at around 360,000 annual starts, multifamily might be peaking, according to BD+C's 2015 Giants 300 report.
