CPA Proposals & Projects

Pearl Street

Community Housing

61 Pearl Street, Newton Corner, MA 02458

goals:

Create 3 units of permanently affordable rental housing, each with 2 bedrooms, for households at up to 60 percent of area-wide median income, in a building that dates to approximately 1870. The first-floor unit is fully accessible.

funding:

$665,000 CPA funds (community housing)
$190,684 CDBG (Community Development Block Grant federal funds, incl. de-leading)
$289,316 HOME (federal funds)
$175,000 Private bank acquisition loan (final mortgage after reduction by federal & CPA funds)
$50,000 foundation grants
$1,370,000 TOTAL PROJECT COST
 

contacts:

  • Jennifer Van Campen, Executive Director
    Citizens for Affordable Housing Development in Newton Organization (CAN-DO)
    79-B Chapel Street, Nonantum, MA 02458
    jvc@metrowestcd.org
    617.923.3505
    website: www.newtoncando.org

Proposal Review & Appropriations

15 October 2010 - proposal & financial information (incl. project development & operating budgets, financing commitments, sponsor mission statement & annual budget), plus:

later updates & additions to original proposal:

15 December 2010 - public hearing presentation, including: photos, updated site & floor plans and budget summaries (long file, may load slowly)

comments & evaluations:

15 February 2011 - CPC funding recommendation

2 May 2011 - Board order (appropriation of funds)

Project News

May 2011 - mortgage & note (held by the City to secure CPA funding)

16 August 2011 - grant agreement, with affordable housing restriction

December 2011 - February 2012 contracting & permitting:

August 2012 - project photos (this large file may load slowly)

11 October 2012 - final project report to Community Preservation Committee

 

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