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Forbes Park Developers Don t Plan to Move Forward on Project – Chelsea Record
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Ayanna Pressley calls on Charlie Baker to direct COVID-19 relief fund
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Some fear Chelsea is getting left behind in the COVID-19 recovery
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City’s Affordable Housing Trust Fund (AHTF) is taking a novel step this month in entering into the development game – a new initiative championed by City Manager Tom Ambrosino and recently advanced by the AHTF for a property on Orange Street.
To create more density and to improve the affordable housing stock, Ambrosino proposed the new program in his State of the City Address last month. On Monday, AHTF Chair Gary DeYoung, of Winnisimmet Street, was on hand to explain the program and ask for a Committee meeting to get the ball rolling.
“We need more affordable housing, and this is likely the most direct and quick ways to develop affordable housing – that being to allow us to develop it on our (City) property and allow us to do so if we have the opportunity,” he said. “We also understand at this time we’re proposing to do something new.”
Housing and Economic Development Secretary Mike Kennealy and Housing and Community Development Undersecretary Jennifer Maddox joined local leaders for a virtual celebration of the Commonwealth’s most recent affordable housing awards, including a large grant for the Midas site on upper Broadway.
In total, awards supporting 12 projects in eight communities will bring 572 new housing units to Massachusetts, including 507 affordable units, with 108 reserved for extremely low-income households. These awards will provide a combination of state and federal housing tax credits, state and federal rental vouchers, and direct funds to support new housing development.
In Chelsea, 1005 Broadway is a 38-unit new construction project located next to the Chelsea Creek. The sponsor is Traggorth Companies. DHCD will support the project with federal and state low-income housing tax credits and subsidy funds. The city of Chelsea also will support the project with funds of its own. When completed, a