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