Boston Capital Development has experience with the development of affordable, workforce, and market rate multifamily housing. We are developing affordable/workforce housing in Massachusetts, New Hampshire, and Florida. The principals also have experience in the development of market rate apartments as a joint venture equity partner on 26 apartment properties totaling over 7,700 units in various markets throughout the US.
- Commitment to Community and Stakeholders: Boston Capital Development’s success in the multifamily housing industry is built upon the strength of long-term relationships with the communities and stakeholders we serve. We strive to do more than just create apartment units. We see the importance in providing stakeholders with a project that creates long-term value for all involved.
- Thoughtful and Creative Design: Each development has its own unique challenges that must be balanced with the community and surrounding area’s objectives to arrive at the best possible solution. We consider the unique circumstances for each community and approach every project with an open mind, recognizing that there is not a one-size-fits-all blueprint for housing.
- Understanding of Capital Sources and Operating Subsidies: Boston Capital Development has experience utilizing a variety of capital sources including equity, construction financing, permanent loans, and City, State and Federal Sources; including proven experience with LIHTC, HTC, HUD RAD and other Voucher Programs.
Development experience on affordable/workforce housing includes:
- Indigo Block – Dorchester, MA: Indigo Block Residential consists of 80 mixed-income apartments; including 44 affordable units and 36 workforce housing units. The site is adjacent to the Fairmount MBTA Commuter Rail and the development includes a new access point to the train platform. The project also includes a 23,000 sq ft commercial building and nine homeownership units. Construction started in December 2019 and completed in August 2021. Our development partners include Dorchester Bay Economic Development Corp and Escazu Development.
- Bronstein Redevelopment – Nashua, NH: The Bronstein Redevelopment will replace 48 units of obsolete public housing owned by the Nashua Housing and Redevelopment Authority (NHRA) with 216 units of new mixed-income apartments. The project will be financed with 4% and 9% LIHTC. The project has obtained zoning approval, site plan approvals, and funding was awarded by NHHFA in December 2020. FHLB Boston awarded AHP funds to the project in December 2020. Closing is anticipated in September 2021. Nashua Housing and Redevelopment Authority is our development partner.
- Six 13 – Fort Lauderdale, FL: 142-unit workforce new construction. BC was co-developer during the pre-development period to complete the permitting, design development, and financing. The project completed in June 2020 on schedule and budget; and is 100% occupied as of January 2021. Our development partner is Affiliated Development based in Fort Lauderdale.
- Table Talk Pies Redevelopment – Worcester, MA: We are working on the redevelopment of the 4-acre Table Talk Pies manufacturing site in the Canal District, an area undergoing an exciting revitalization. BC is planning a multiphase mixed-income, mixed-use development. This is a highly sought-after location adjacent to the newly constructed ballpark for the Worcester Red Sox. The City of Worcester is working proactively to attract new residents, visitors, and businesses through small- and large-scale redevelopment and this Project has strong local support. Phase 1 is planned for 83 units of affordable housing.