Lynn & Watts

Completed projects

Nov 14

Written By The Neighborhood Developers

Quick facts

City: Chelsea

Development type: Renovation/Preservation

Number of units: 7 apartments

Affordability: 7 units < 50% AMI

Overview

19 Lynn Street and 10 Watts Street are two adjacent buildings in Chelsea’s Shurtleff-Bellingham neighborhood that share a parking lot. 19 Lynn Street has three homes, and 10 Watts Street has four homes, six of which are two-bedroom units. At the time of acquisition, the property was fully occupied and had been owned by the same local family since the early 1970s. The site was identified as a strong candidate for acquisition due to its below-market rents and significant deferred maintenance.

This project was the first to utilize OppCo’s Housing Accelerator Fund. By addressing long-overdue repairs and ensuring residents can remain in their homes, the acquisition stabilizes the existing tenants and contributes to the overall strength and stability of the neighborhood.