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State helps out with all-affordable apartment building for seniors now under construction in Hyde Park
By adamg on Fri, 05/24/2024 - 12:18pm
Rendering by J. Garland Enterprises.
MassDevelopment reports it's issued a $21.8-million tax-exempt bond to help finance B'nai B'rith Housing of New England's 63-unit apartment building for people over 55 at 1201 River St. in Hyde Park, where Dempsey's used to be.
All of the apartments in the project, already several months into site clearance and construction, will be rented as affordable, with units reserved for people making between 30% and 60% of the Boston-area median income.
After Dempsey's closed in 2015, two private developers initially proposed a 48-unit condo building on the site, which stretches back along Central Avenue across from the Muni building.
Once completed, it will be the second new apartment building for seniors in the Logan Square area - a short walk from the LGBTQ-friendly Pryde in the former William Barton Rogers School.
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Comments
Businesses have staffing
Businesses have staffing shortages, schools are closing down due to lack of students, families can’t afford to stay in the city. I have a solution! Build a bunch of residences that discriminate based on age and rent them out to people who no longer work and/or are too old to have kids! Genius!
Well ...
Instead of flaming about it on UHub, you could form a nonprofit and start building what you think the area needs.
Nobody is stopping you from doing what this non-profit did.
Sorry, ma'am...
"We know you're still young but we heard you had a hysterectomy. According to our rules, you now have 30 days to move from the Breeder's Central Apartment Complex."
Senior housing helps the housing crisis
One of many contributors to the housing shortage is seniors staying in homes much larger than they need because of the difficulty finding affordable smaller places to move to. Just because someone is no longer working and doesn't have kids doesn't mean they don't deserve to live in their neighborhood any more. Also, some people who move into senior housing haven't yet retired (not that it should matter).
Asset Limit?
Isn’t there an asset limit in addition to an income limit? Doubt very many seniors selling off a home in the Boston area ($500k minimum value in HP I’d guess) would qualify for these particular units, although your point on the need for more opportunities for the trade down market is a valid one.