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
MFPRO+ New Projects | Oct 30, 2024
BIG’s One High Line finally reaches completion in New York City’s West Chelsea neighborhood
One High Line, a luxury residential project spanning a full city block in New York’s West Chelsea neighborhood, reached completion this summer following years of delays related to investor lawsuits.
MFPRO+ New Projects | Oct 30, 2024
Luxury waterfront tower in Brooklyn features East River and Manhattan skyline views
Leasing recently began for The Dupont, a 41-story luxury rental property along the Brooklyn, N.Y., waterfront. Located within the 22-acre Greenpoint Landing, where it overlooks the newly constructed Newtown Barge Park, the high-rise features East River and Manhattan skyline views along with 20,000 sf of indoor and outdoor communal space.
Multifamily Housing | Oct 28, 2024
A case for mid-rise: How multifamily housing can reshape our cities
Often referred to as “five-over-ones,” the mid-rise apartment type is typically comprised of five stories of apartments on top of a concrete “podium” of ground-floor retail. The main criticism of the “five-over-one” is that they are often too predictable.
Adaptive Reuse | Oct 22, 2024
Adaptive reuse project transforms 1840s-era mill building into rental housing
A recently opened multifamily property in Lawrence, Mass., is an adaptive reuse of an 1840s-era mill building. Stone Mill Lofts is one of the first all-electric mixed-income multifamily properties in Massachusetts. The all-electric building meets ambitious modern energy codes and stringent National Park Service historic preservation guidelines.
MFPRO+ News | Oct 22, 2024
Project financing tempers robust demand for multifamily housing
AEC Giants with multifamily practices report that the sector has been struggling over the past year, despite the high demand for housing, especially affordable products.
Products and Materials | Oct 17, 2024
5 multifamily tech products for your next project
Multifamily housing and technological upgrades go hand-in-hand. From the rise in electric vehicle charging needs to the sophistication of smart home accessories, tech products are abound in the multifamily space.
Codes and Standards | Oct 16, 2024
North Carolina’s code policies likely worsened damage caused by Hurricane Helene
The North Carolina Legislature’s rejection of building code updates likely worsened the damage caused by Hurricane Helene, code experts say. Over the past 15 years, lawmakers rejected limits on construction on steep slopes, which might have reduced the number of homes destroyed by landslides.
MFPRO+ News | Oct 16, 2024
One-third of young adults say hurricanes like Helene and Milton will impact where they choose to live
Nearly one-third of U.S. residents between 18 and 34 years old say they are reconsidering where they want to move after seeing the damage wrought by Hurricane Helene, according to a Redfin report. About 15% of those over age 35 echoed their younger cohort’s sentiment.
Student Housing | Oct 9, 2024
University of Maryland begins work on $148 million graduate student housing development
The University of Maryland, in partnership with Campus Apartments and Mosaic Development Partners, has broken ground on a $148.75 million graduate student housing project on the university’s flagship College Park campus. The project will add 741 beds in 465 fully furnished apartments.
MFPRO+ News | Oct 9, 2024
San Francisco unveils guidelines to streamline office-to-residential conversions
The San Francisco Department of Building Inspection announced a series of new building code guidelines clarifying adaptive reuse code provisions and exceptions for converting office-to-residential buildings. Developed in response to the Commercial to Residential Adaptive Reuse program established in July 2023, the guidelines aim to increase the viability of converting underutilized office buildings into housing by reducing regulatory barriers in specific zoning districts downtown.
