25 Sixth Street

 

Quick facts

City: Chelsea

Construction start date: June 2022

Completion date: October 2024

Development type: New construction

Number of new homes: 56 rental apartments (27 one-bedroom, 18 two-bedroom and 11 three-bedroom); 6 homes for sale to first-time homebuyers (3 two-bedroom, 3 three-bedroom)

Total Development Costs: $34 million

Affordability: rental apartments: 8 homes at <30% AMI, 36 homes at <60% AMI and 12 homes at <100% AMI; townhomes for sale: 3 units at <80% AMI, 3 units at <100% AMI

Affordability (for sale): 3 homes for < 80% AMI and 3 homes for < 100% AMI

 

Overview

25 Sixth Street was formerly an industrial site adjacent to a new MBTA Silver Line Station. It was redeveloped to include 62 affordable homes for families, an improved streetscape along Sixth Street, and a walking path through the site connecting the station to Bellingham Square, Chelsea’s downtown core. The transit-oriented development includes 56 new mixed-income rental units for families and 6 new homeownership units to help meet Chelsea’s growing need for affordable housing. Property amenities include a community room, a 4,000-square-foot outdoor public space on the second level, 40 at-grade parking spaces, common laundry facilities on three floors, and public bicycle parking. The development’s architectural details emphasize energy efficiency and were designed to meet Passive House Certification standards.


Development team

Architect: Utile Architecture + Urban Design

Contractor: NEI General Contracting

Acquisition financing: The Life Initiative

Predevelopment financing: The Life Initiative; Local Initiatives Support Corporation

Low income housing tax credit investor: Massachusetts Housing Investment Corporation

Construction financing: First Citizens Bank

Permanent financing: MassHousing

Subordinate debt: Community Economic Development Assistance Corporation; North Suburban Consortium HOME Program

 
 
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