TND Acquisitions
An Initiative to Acquire Naturally Occurring Affordable Homes (NOAHs) to Prevent Displacement
Quick facts
City: Chelsea
Total development cost: $30M
Development type: NOAH Acquisition, Renovation & Deed Restriction
Number of homes: 91 + 4 retail
Overview
TND Acquisitions is an anti-displacement effort that preserves affordability and strengthens community stability. By acquiring Naturally Occurring Affordable Homes (NOAHs) with capital support from the OppCo Housing Accelerator Fund and other lenders, TND ensures affordable rents, completes essential health and safety improvements, and promotes community-centered, equitable development.
TND’s goal is to acquire ~150 NOAHs every five to seven years, and to then seek the financing and subsidies needed to deeply renovate the properties and to convert the homes to deed-restricted affordable housing, permanently protecting the housing from market pressures and speculation.
TND’s current NOAH portfolio includes four properties with 91 apartments in Chelsea serving households at or below 60% of the Area Median Income (AMI). These properties include Lynn & Watts, ABC Properties, Park and Pearl, and 28–40 Washington Avenue, which also features retail space in the heart of Chelsea.
