Investors on board, big re-do of Bunker Hill public housing

Investors on board, big re-do of Bunker Hill public housing complex is set to begin


With investors on board, a big redo of Bunker Hill public housing complex is set to begin
By Tim Logan Globe Staff,Updated May 3, 2021, 3:25 p.m.
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A plan to re-do the Bunker Hill public housing complex in Charlestown as a large mixed-income project will get underway later this year after the $1.4 billion project lined up a lead investor.David L. Ryan/Globe Staff
A long-planned redevelopment of the largest public housing complex in New England will launch later this year, with a deep-pocketed investor signed on.
Declaration Partners, an investment firm anchored by the family office of private equity billionaire David M. Rubenstein, will take the lead on financing the re-do of Charlestown’s Bunker Hill housing complex, the Boston Housing Authority and the project’s developers said Monday. Led by Joseph J. Corcoran Co. and Leggat McCall Properties, the 10-year effort will replace 1,100 apartments for some of Boston’s poorest residents and add nearly 1,600 new apartments — at mixed income levels — at the 26-acre site on the northern edge of Charlestown.

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