2042-44 Beacon Street

Affordable Housing/Historic Resources

location: 2042-44 Beacon Street
Waban, MA 02468
goals: Adapt a 1917 former fire station  to create 10 affordable studio apartments: 9 for very low-income, formerly homeless individuals (incomes up to 30 percent of area median) and 1 for live-in staff (income up to 80 percent of area median). 3 units will be fully wheelchair accessible. The building will also include common space for support services and community use.
funding: NOTE: As of 31 May 2013, this page is provided for information only. The sponsors of this project submitted the pre-proposal linked to this page by the fy14 deadline but have not yet requested an advisory discussion of their pre-proposal with the CPC. They will make this request, in anticipation of submitting a full proposal for CPA funding, only if they are successful in obtaining all funding listed below except historic tax credits.
$955,771 Newton CDBG funds (federal)
$407,855 Newton HOME funds (federal)
$500,000 Massachusetts HOME funds (federal)
$592,362 Massachusetts Housing Innovations Fund (state)
$300,000 Federal Home Loan Bank Affordable Housing Program
$333,889 Historic tax credit equity (state)

$3,089,877

TOTAL PROJECT COST
contacts: Steve Laferriere, Senior Housing Project Manager
Metro West Collaborative Development, Inc.
63 Mt. Auburn Street
Watertown, MA 02472
email: steve@metrowestcd.org
phone: 617.923.3505, ext. 6

website:http://metrowestcd.org/

Proposal Review & Appropriations
31 May 2013 pre-proposal, including: project summary, timeline, map & photos, development & operating budgets
   
Project News
4 April -
1 May 2013  
full proposal for Newton CDBG & HOME (federal) housing funds, from the Newton Planning Dept.- Housing & Community Development - Housing Development - Projects webpage:

http://www.newtonma.gov/gov/planning/hcd/housingdev/projects.asp
May 2013  background material, including Housing staff memo, provided for 3 June 2013 discussion of and vote on whether to recommend the Newton federal funds in the request above, from the Planning Dept. - Boards & Commissions - Planning & Development Board webpage: 

http://www.newtonma.gov/civicax/filebank/documents/52210