Joseph J. Corcoran Company and John M. Corcoran Company announced they have been selected by the Chelsea Housing Authority (CHA) as the development partners for the Fitzpatrick and Prattville Apartments, located just off Revere Beach Parkway in Chelsea’s Prattville neighborhood. The proposed redevelopment of the site will include the replacement of all 198 public housing units as part of a new, mixed-income community with affordable, workforce and market-rate housing.
Joseph J. Corcoran Company and John M. Corcoran Company have already partnered with the Chelsea Housing Authority for over nine years to transform the former Innes Apartments, now DUO, which opened in 2024 and where leasing is underway for a 330-unit mixed-income development, including 96 units reserved for returning public housing residents and 40 units of workforce housing.
“We are thrilled to partner again with the Chelsea Housing Authority to deliver beautiful new homes for its residents and additional, much needed housing stock to meet unprecedented demand in Chelsea and beyond,” said Sean McReynolds, President of the Joseph J. Corcoran Company. “Through innovative, public-private partnerships, our model emphasizes holistic development. We look forward to working closely with the residents of the Fitzpatrick and Prattville apartments and earning their trust through this process to rebuild their home and deliver top notch community amenities for all.”
Corcoran’s mixed-income model is financed primarily by private equity, as well as conventional debt and public subsidies. Roughly 60% of the total development cost will come from loans, with the rest covered by investor funding and public subsidies. The team will pursue funding from the Commonwealth’s Executive Office of Housing and Livable Communities, as it did for the Innes-Duo project.
“It’s an honor to be selected for this important project and continue our work with the City of Chelsea,” said Peter Mahoney, Executive Vice President at John M. Corcoran Company. “We know from our work on DUO that this is a model that works and achieves incredible results for residents. This project is going to add another attractive rental option for all prospective tenants who value convenient access to downtown Boston, public transportation, and the airport, in a vibrant and growing community.”
During the redevelopment period, the 198 households living in the existing Fitzpatrick and Prattville units will be temporarily relocated to allow for demolition and construction. A thorough relocation plan will be drafted in collaboration with Chelsea Housing Authority, resident representatives, advocate organizations, and legal representation. Each household will have the right to return to a new unit once the construction is finished, and the team will focus on minimizing disruption to residents throughout the process. To ensure that residents receive the resources that they need throughout the duration of the project, the companies will replicate the transparent, resident-first approach that was used during their Innes-Duo project.
“I am incredibly proud of our collective team for advancing this project to this important milestone and thrilled for the current and future residents of the Fitzpatrick and Prattville Apartments who will have a modern, state-of-the-art community upon its completion,” Paul Nowicki, the executive director of the Chelsea Housing Authority. “Our team is committed to building on the momentum of the Innes-Duo redevelopment and modernizing our public housing stock to provide modern homes that every resident deserves.”
The success of the Innes-Duo project proved that the mixed-income model for redeveloping public housing is achievable. Each unit in the development has the same finishes and amenities, meaning the public housing, workforce, and market-rate units are indistinguishable from one another. Innes residents had a seat at the table to provide feedback on the project and its subsequent ownership and management.
“I am very excited to work with the Chelsea Housing Authority and the development team to bring the voices of the residents to the table and make sure information is available at every step of the process,” said Rosa Portillo, the Chairperson of the Resident Advisory Committee for the Fitzpatrick and Prattville residents. “My neighbors and I see how this team worked with the Innes residents and I am confident we can do the same thing here. I saw first hand how thoughtful this team is and I know we will work together to improve the lives of all our neighbors.”