Last Tuesday, Governor Charlie Baker and Undersecretary of Housing and Community Development, Chrystal Kornegay announced the 2015 awards for funding of affordable rental housing development, renovation, and preservation projects.
East Boston’s Neighborhood of Affordable Housing’s (NOAH) Coppersmith Village project was one of the projects picked by the state to receive funding.
The $33 million mixed-income Coppersmith Village in Eastie will create 56 apartments and 15 for-sale town-homes, with 49 affordable and 22 market rate units, as well as a 3,000 square foot restaurant.
“We are very appreciative that Governor Baker and his team saw the value in funding our unique Coppersmith Village project,” said NOAH’s Executive Director Phil Giffee. “Nothing moves without the essential support provided by the Governor and the Commonwealth. We are also indebted to the City, our reassuring neighborhood and our elected officials who have been strongly in support since Day One. Coppersmith meets all of the City and State’s Sustainability criteria. It is open to people of all incomes and backgrounds, owners and renters alike. Coppersmith will also feature a 3,000 sf restaurant overlooking the Inner Harbor on the Charlestown facing side.”
Giffee thanked the Governor, the Undersecretary and and Mayor Martin Walsh for their support.
“This terrific project will add safety and security to the area as well as add new customers to our dynamic small business community,” said Giffee. “Not to be overlooked, Coppersmith is designed for looming Climate Change challenges as well. The project will be four feet above ground with mechanical systems high up in the two five-story buildings to avoid damage from potential sea-level rise, storm surges. State funding now gives us the ability to begin pulling all the elements together. We are very grateful.”
The project recieved Boston Redevelopment Authority (BRA) 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 apartment building will be located on Border Street with the townhouses planned for Liverpool 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.
Giffee said location provides a strong basis for a spunky new urban neighborhood in the Maverick/Central Square triangle in East Boston. This transit-oriented development is close to the new $35M Maverick subway station and the new East Boston Health Center in Maverick Square.
The housing at Coppersmith Village approved by the BRA will be a mix of affordable and market rate units, both rental and ownership. Of the 56 apartments, 34 will be available to households at 60% average medium income (AMI) and below; of the 15 townhouses, three will be sold to households at 80 percent AMI or below. Of the rentals, the remaining 22 units, or 39 percent, will be market rate; of the townhouses, 12 homes, or 80 percent, will be market rate.
Governor Charlie Baker and Undersecretary of Housing and Community Development,
Chrystal Kornegay with NOAH’s Executive Director Phil Giffee.
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. We want to bring light to a very bleak street that will be transformed with the new development planned for the area.
The affordable housing units are more than the 13% requirement of the city’s inclusionary development policy.