City of Newton, MA
Home MenuChestnut Street / Millhouse Commons
Community Housing
1093-1101 Chestnut Street
Newton Upper Falls, MA 02464
Goals
As part of a 6-unit, 16-bedroom mixed-income condominium development, rehabilitate a circa 1870 Italianate house built for mill workers and add additional modular homes to create 4 deed-restricted units of affordable ownership housing with a total of 10 bedrooms. The deed-restricted units are permanently affordable to households at or below 80 percent of area-wide median income.
Funding
| $738,383 | CPA funds appropriated (community housing) |
Funding Sources Below From March 2004 Revised Budget - to Confirm or Update:
| $575,000 | CDBG funds |
| $2,775,000 | Bank loan |
| $398,000 | Sales revenue |
| $170,000 | Owner's contribution |
| $4,656,383 | Total Project Cost |
Contact
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
Proposal Review & Appropriations
2004
- October-December 2004 - Initial funding proposal to the CPC (15 October 2004) including development budget, anticipated sales prices, letters of support, & deed
- Attachments and supporting information submitted for this proposal:
- Site plans, elevations, Newton Historical Commission vote, & environmental assessment
- Additional letters of support
- Other funding commitments (CDBG, Cambridge Savings Bank)
- Project team qualifications
- Appraisal supporting purchase price (29 December 2003): part 1 and part 2
- Design & finishes (December 2004)
- Initial construction cost estimate (7 December 2004)
- Attachments and supporting information submitted for this proposal:
- 4 February 2004 - Massachusetts Historical Commission comments on historic significance
- March 2004 - Revised development budget
2005
- 16 March 2005 - Requested state funds denied
- 30 March 2005 - Revised construction cost estimate
- 28 April 2005 - State approval of proposed modular units
- 25-27 May 2005 - Revised funding proposal to the CPC
- Attachments & supplemental information:
- Summary of project finances (25 May 2005): acquisition, development & construction costs; unit sizes; anticipated sales prices; and public subsidies
- Project timelines (to date and anticipated)
- Attachments & supplemental information:
- 29 June 2005 - Newton Historical Commission letter of support
- 29 June 2005 - CPC funding recommendation
- 6 July 2005 - Requested allocation of funds among CPA categories
- Note: Although the CPC recommended, and the proposal sponsor requested, funding as both historic resources & housing, the final appropriation was allocated 100% to community housing.
- 15 July 2005 - Aldermanic conflict of interest declaration
- 8 August 2005 -Board order (appropriation of funds)
Project News
- November - December 2005 - Filling at the South Registry of Deeds:
- Local Initiative Program regulatory agreement & deed rider (10 November 2005), unexecuted copy linked here, recorded in book 46569, page 223
- Other documents: certificate of authority, certificate of good standing, clerk's certificate, amendments, mortgage, promissory note (2 December 2005)
- Historic preservation restriction (4 December 2005), recorded in book 46569, page 256
Free viewers are required for some of the attached documents.
They can be downloaded by clicking on the icons below.
