CPA Proposals & Projects

2Life Communities ***

Stanton Avenue / Golda Meir House Expansion 

160 Stanton Avenue, Auburndale, MA 02466

*** The new name of Jewish Community Housing for the Elderly (JCHE), as of 15 October 2018,. Click here for press release.

 goals: (updated to reflect 3 December 2018 revisions)

Expand the existing Golda Meir House through two new additions with 68 net new rental apartments. 57 units will be permanently restricted to residents at least 62 years of age. Of the 60 units that will be permanently affordable at the income levels shown below, based on the federally defined Area Median Income (AMI), 9 units without age restrictions will be designated for individuals with disabilities who have experienced chronic homelessness.

Note: Revisions submitted 30 November - 3 December 2018 eliminated the wellness center previously proposed as part of this project. This center could not have used CPA funds.

housing unit mix(updated to reflect 3 December 2018 revisions)

no. of bedrooms: 1 2
up to 30% AMI *

7

(orig. 8)

1

(orig. 0)

up to 50% AMI *  20  2
up to 60% AMI  18  2
under 100% AMI  8  2
no income restrictions **

4

(orig. 5)

4**

total units  57  11
 total bedrooms  57 22
 

* The 9 units for formerly homeless individuals will be distributed between these two income categories and will be included in the total 30 units with vouchers, which will fill the gap between the contracted rent and 30% of the tenant's actual income (8 units through the federal Section 8 program, 22 units through the Massachusetts Rental Voucher Program).

** Of the two-bedroom units without formal income restrictions, one will be a rent-free unit for a resident manager and one will be a reduced-rent unit for one or more New England Conservatory graduate students participating in the planned resident enrichment services program. The rents for all units without formal income restrictions will be kept affordable to tenants with moderate incomes.

funding: 

(updated to reflect 3 December 2018 revisions)

$3,250,000  

Newton CPA funds committed

 

Note: Release of these CPA funds requires a grant agreement, which the CPC must vote to authorize once the project's other needed funds are committed.

$10,298,970

(orig. $9,999,000)

  federal tax credit equity

$3,999,600

(orig. $2,659,734)

  state tax credit equity

$3,750,000

(orig. $3,400,000) 

  state Dept. of Housing & Community Development subordinate debt

$0

(orig. $1,470,139)

   program partner contribution
$2,546,475     private philanthropy (new source)
$625,000     deferred developer fee

$74,800

(orig. $75,900)

   utility rebates

$7,770,000

(orig. $9,190,000)

   permanent (bank) loan

$32,314,845

(orig. $30,669,773)

TOTAL PROJECT COST
 

contacts:

Funding Process

2018

8 June 2018 - pre-proposal, discussed with CPC 10 July 2018

7 September-8 November 2018 - full proposal, with attachments below (see 3 December 2018 revisions below): 

  • photos & maps
  • project budgets & funding sources
  • project sponsor finances & qualifications
  • evidence of site control, commitment to deed restriction
  • community outreach
  • fair housing, tenant selection plan, relocation policy, architectural access
  • unit mix and operating budget (submitted separately but now integrated into full proposal)

7 September-8 October 2018 - additional proposal attachments, posted separately:

6 October 2018 - community letters submitted to date

9 October-6 November 2018 - presentation to CPC public hearing (see 3 December 2018 revisions below) and sponsor responses to public hearing questions

3 December 2018 proposal revisions:

24 October-12 December 2018 - CPC funding recommendation

17 December 2018 - City Council appropriation order

Project Background & News

2017

This project incorporates a small parcel previously owned by the City of Newton. Additional background is available from the project's link on the Planning Department's High-Interest Projects page, under Development Review.

August 2017 - City of Newton Request for Proposals (RFP) for Stanton Avenue parcel with surplus water tower

October 2017 - JCHE response to City RFP

 

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