The East Boston Neighborhood of Affordable Housing (NOAH) Executive Director Phil Giffee announced this week that the Coppersmith Village Project is nearing completion with a ribbon-cutting scheduled for October.
“Coppersmith will finally be ready for occupancy this fall,” said Giffee. “Residents will be in their quarters by the end of the year.”
The project received Boston Planning and Development Agency (BPDA) approval last summer. The Coppersmith Village development that was once the site of an ironworks company is on the block bounded by Border Street, Decatur Street, Liverpool Street, and Coppersmith Way. The block will be will be transformed into a mixed-use development of 56 rental apartments, 15 townhouses and 3,000 sq. ft. of retail space on the ground floor on the corner of Border and Decatur Streets that will house a restaurant with outdoor seating. The project includes 49 affordable and 22 market-rate units, as well as the restaurant.
The apartment building will be located on Border Street with the townhouses planned for Liverpool Street that ties into the typical triple-decker of Eastie. Coppersmith Way will be opened up and serve as entrance for parking for the apartment building and townhouses.
“The seven for-sale market units have owners,” said Giffee. “The eight affordable ownership units will be drawn by lottery. There is strong demand for the 41 affordable rentals as 700 people applied for the lottery in recent weeks. There will be 15 market-rate rentals as well.”
Giffee said Peabody Properties has a website that includes the layout for all units.
“Each unit has a balcony with great views,” he said. “We are talking with quality restaurants about the restaurant space on Decatur Street. It has great views of the water. It’s exciting to be near the end and to see mixed-income housing on the waterfront. It will look great and be protected against sea-level rise and storm surges for decades to come. We are grateful to the City, the State and to all our great lenders, including our local East Boston Savings Bank.”
Giffee said NOAH will have a ribbon cutting, most likely at the end of October.
Giffee added that NOAH’s vision is to create a modest ownership and rental mix that meshes well with the existing urban fabric and accommodates a diverse range of neighborhood needs. The affordable-housing units are more than the 13 percent requirement of the city’s inclusionary development policy.
Financing for the $26 million was provided by the state and East Boston Savings Bank.