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Contact: Lydia Agro Communications Director
Location: 52 Chauncy St., 11th Floor
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Maverick Landing Voted Best Overall Development |
Boston – Affordable Housing Finance magazine bestowed its top honor of Best Overall Project to Maverick Landing, announcing the award at its annual conference in Chicago on Friday, November 3. Maverick Landing, a redevelopment of the Boston Housing Authority’s Maverick Gardens public housing development, brings 396 new rental units, 305 of which will be affordable, to East Boston. The Carlton Wharf Condominium Development is adjacent to Maverick Landing, on the harborfront.
“Maverick Landing is an important part of the revitalization of East Boston,” Mayor Menino said. “This development will ensure that affordable housing, both for renters and homeowners, will remain a part of the East Boston waterfront for years to come.”
“We are thrilled that the national affordable housing community has recognized Maverick Landing as a model for mixed income developments across the country,” said James G. Keefe, President of Trinity Financial, Inc. “The partnership we have had with the East Boston Community Development Corporation and Maverick residents, with outstanding support from City of Boston, the Boston Housing Authority, MassHousing and the Massachusetts Department of Housing and Community development, has made this revitalization a reality.”
Trinity and the East Boston Community Development Corporation were designated by the BHA as developer for the revitalization of the blighted public housing complex Maverick Gardens in July 2002. In just four and half years, construction over five city blocks is complete and the development will be fully occupied by the end of this year. Replacing the old block shaped Maverick Gardens buildings are 316 townhouse-style units in 20 three-story low-rise structures and a midrise along with 80 additional rental units in a six-story building at the adjoining Carlton Wharf site.
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Part of the on-site redevelopment includes the reconnection of the city street grid that was originally severed during the construction of Maverick Gardens in 1941. A new community building is located at the center of the site and includes offices for resident services, the property management and the Maverick Tenants Organization.
“Maverick Landing is yet another example of the transformative power the HOPE VI program has had on neighborhoods in Boston,” said Sandra Henriquez, BHA Administrator. “The new design of the development opens it up to the surrounding neighborhood and integrates residents into the community.”
The new Maverick Landing Community is a mixed-income development with 77 percent of the units continuing to be affordable to households earning up to 60 percent of area median income and the remaining 23 percent as market rate rentals. The Carlton Wharf Condominiums are affordable for working families earning between 80 and 120 percent of area median income.
The Maverick Gardens redevelopment was made possible when the Boston Housing Authority was awarded a $35 million grant from the United States Department of Housing and Urban Development (HUD) in 2001. In addition to the money from the HOPE VI grant from HUD, the BHA provided approximately $13.5 million in capital funds. The total project cost is about $121 million and funding sources include the City of Boston Department of Neighborhood Development and Neighborhood Housing Trust, Commonwealth of Massachusetts, Massachusetts Technology Collaborative, MassHousing, Apollo Housing Capital, Nationwide Insurance and Bank of America. The Carlton Wharf Condominiums received construction financing from Bank of America, as well as linkage funds through the Boston Redevelopment Authority.
A unique feature of the redevelopment is the green building initiative at the phase one mid-rise building. Made possible through a grant from the Massachusetts Technology Collaborative, the grant allowed the implementation of measures that produce valuable energy savings and new sources for renewable energy. The apartments in the mid-rise building are 40 percent more energy efficient than Boston building code requires. Improved ventilation systems allow fresh air into apartments and solar panels generate energy from the roof. The building also contains Green energy efficient windows, insulation, appliances, and flooring.
As part of the overall development, the first 100 feet of Harborwalk, with an historical interpretive marker, was installed on the Boston Harbor.
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