Home Funders is making a difference all around Massachusetts. To download our current Project List,
Torrey Woods, Weymouth
South Shore Affordable Housing and Preservation of Affordable Housing has constructed 20 new affordable housing units in the Southfield area of Weymouth. This project includes five units affordable for extremely low income families. The Torrey Woods project represents newly built affordable housing in a relatively high income community that has already achieved the state’s 10% affordability mandate. This area is also a Smart Growth site within one-half mile walking distance of a commuter rail station and is in a mixed-use area near commercial and employment areas.
Union Crossing Complex, Lawrence
This Home Funders’ project occupies the top three floors of the Union Crossing complex, offering 60 rental apartments, primarily for low income tenants. Lawrence Community Works took the lead on this $40 million deal. Occupying the former Southwick Clothing factory, the three floors of housing sit above two floors of commercial space.
6 Fort Street, Quincy
6 Fort Street offers 34 rental apartments in Quincy’s central business district. The project consists of one-, two- and three-bedroom units, with eight units affordable at 30% of area median income. This adaptive re-use of a four-story former office building is sponsored by the Asian Community Development Corporation. The property is close to shops, school and the MBTA.
Powder House Village, Ipswich
Powder House Village has been almost nine years in the making. This project consists of two residence buildings with 48 units of affordable housing. Located on the 23-acre YMCA campus on County Road in Ipswich, they provide natural connections to the community through Y membership and services. Powder House Village is also home to a new branch of the Institution for Savings and the new YMCA
Early Learning Center.
Unity Place, Lowell
Opened in December, Unity Place was built by the Coalition for a Better Acre. This project consists of new construction of a four-story building with 23 rental units in downtown Lowell, including eight units allocated for extremely low income families.
Thomas Atkins Apartments, Roxbury
This Nuestra Comunidad Development Corporation project is comprised of 48 multi-family affordable apartments. The project was built on the site of the former Kasanof Bakery, which closed in the 1970s. The four-story brick rental apartment building includes one-, two- and three-bedroom units for individuals and families, as well as a community room. Ten units are set aside for families earning below 30% of AMI.
Having a $1.5 million acquisition loan at 2% from Home Funders on the original acquisition price tag of $2 million saved this project nearly $500,000 during five years of delays caused by an unusually long community vetting process, unexpected environmental remediation and the collapse of the tax credit market in 2008.
Spencer Row, Chelsea
This Chelsea Neighborhood Developers project provides 32 affordable family apartments in Chelsea, MA, on the site of a vacant manufacturing building. A $1.4 million Home Funders acquisition loan helped bring the project online. The complex includes one-, two-, and three-bedroom units. Eight units are rented to households earning up to 30% AMI. The building has a parking garage below three stories of housing. Design, construction methods, and materials all include sustainable and “green” elements. The site is located near four elementary schools, athletic fields, and playgrounds.
Thankful Chases, Harwich
The Lower Cape Cod Community Development Partnership (CDP) used a pre-development loan of $96,500 from Home Funders to explore feasibility for the Thankful Chases project, which brings 12 units of affordable housing to Harwich, MA. Three of the units are designated for ELI families. On the Cape, affordable housing is in short supply. Over the years, the CDP has brought 70 units of affordable housing to the eight communities of the Lower Cape.
Olmstead Green I, Dorchester
This project, developed on the site of the former Boston State Hospital, is the work of Lena New Boston, a joint venture between Lena Park CDC and New Boston Development Partners, a for-profit developer. The first phase of Olmsted Green, this project includes a total of 51 rental apartments, with 21 ELI units. The project includes one-, two- and three-bedroom units in nine four-story buildings. This project was made possible in part by a $750,000 acquisition loan from Home Funders.
St. Joseph’s, Lowell
An adaptive reuse of a former Catholic School in a building owned by Coalition for a Better Acre brings 15 rental units online for families and elders, including three units for ELI families.
Resident Story – Eliana and Jose Morales
Eliana and Jose Morales and their son Phoenix are from Lowell, and moving to the St. Joseph’s school felt like winning the lottery. Since moving to St. Joseph’s in the summer of 2009, they are thrilled with their new housing. For most residents who come from the Lowell area, it is rare to find newly constructed units. The Coalition for a Better Acre, which developed the site, is now working on redevelopment of the St. Joseph’s High School building to create 22 more affordable housing units.
Humphreys Street, Dorchester
This new construction, sponsored by Sojourner House, offers 11 housing units in one three-story wood-frame building. All units are affordable to residents who earn up to 60 percent of area median income (AMI), with at least three two-bedroom units affordable to residents up to 30 percent AMI.
QUOTES
“What I’ve learned is that I have to keep setting goals. I got into good housing. Then I started working two jobs. Now I need to get my GED.” – Home Funders Tenant
“Besides giving me a place to live, I now have people I can ask for help. When I didn’t know what to do about my child skipping school I was able to get suggestions from other residents.” – Home Funders Tenants
“Now that I have a home I’ve been able to find a job. I work as a day care assistant. This is great because I can take my youngest with me. He still needs reassurance that we’ll be okay. I think his being close to me at work has calmed him down.” – Home Funders Tenant
“People don’t realize how crazy life is when you are living in relative’s living rooms. Now my health is better. My kids are doing better in school and we can be a real family.” – Home Funders Tenant