Location: 

131 North Street, Newtonville 02460

Goals:

Winn Development requests funding for the purchase of Newton Gardens, an existing apartment complex located at 131 North Street, to convert the property into affordable and workforce housing. Their proposal would make 30 of the existing 112 apartments affordable to households at or below 30% and 80% AMI and the remaining 84 units affordable to households at or below 110% AMI. 

NAHT Funds Requested:                                $4,000,000

Project Funding From MassHousing              $8,000,000                                                                             WFH and State:          

Additional Funding:                                         $32,149,179

Total Project Cost:                                         $44,149,179

Anticipated Total Project Cost

per Affordable Unit:                                         $133,333.34

Project Application Materials:

Funding Application

Option 2 Narrative

Newton Gardens - Comparable Rents at other Winn Properties

Newton Gardens - Funding Sources and Uses

Newton Gardens - Opex Comparables

Connected Communities Overview

Photos, Map and Project Descriptions

Funding Process:

December 16, 2024 - NAHT will meet with Winn Development to review funding request.