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, all 38 units at 1005 Broadway will be reserved for families earning less than 60 percent of AMI, with eight units further reserved for families earning less than 30 percent of AMI, including families making the transition from homelessness. The sponsor intends to build the project to Passive House standards.
“Affordable housing has been a priority for our administration since day one, and the impact of the pandemic has made the need for additional investment even more clear,” said Governor Charlie Baker. “We are proud to have invested more than $1.4 billion since 2015 in our affordable housing ecosystem, and are thankful to the Legislature for passing our Housing Choice legislation to promote the production and preservation of additional units across the Commonwealth.”
Said City Manager Tom Ambrosino, “Thank you to the Baker-Polito Administration for continuing to make affordable housing a priority,” said Chelsea City Manager Tom Ambrosino. “We are thrilled to see 1005 Broadway, a collaboration with Traggorth and The Neighborhood Developers, move forward with the support of DHCD and local funding to build 38 new affordable units for our families.”
Added Dave Traggorth, “1005 Broadway will turn a brownfield lot that has been vacant for decades into a vibrant home for Chelsea’s families at a critical time. The project will also open up access for all Chelsea residents to the Mill Creek, and be the first Passive House building in the City of Chelsea,” said Dave Traggorth, Principal, Traggorth Companies. “We couldn’t be more thrilled to be at this milestone today and look forward to starting construction later this spring.”