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Feb. 4, 2013

Dudley Square Affordable Housing Project Awarded MassDevelopment Bond

By Veronica Grecu, Associate Editor

Two residential projects planned for Boston’s thriving Roxbury neighborhood have received $9 million in tax exemptions from MassDevelopment, the state’s finance and development agency, which issued the bond on behalf of Dudley Greenville LLC. Sponsored by Madison Park Development Corporation, the two adjacent projects will comprise 43 units of affordable rental housing as part of the Orchard Park HOPE IV initiative, a $63.5 million vibrant residential community under development in Dudley Square financed by the United States Department of Housing and Urban Development.

Dudley Greenville will be built on two parcels located near the intersection of Dudley Street and Harrison Avenue. Construction is expected to be complete in 2014, the Boston Business Journal reports. The first site, a five-story elevator building, will include a combination of 31 rental units ranging from one-bedrooms to three-bedrooms, and 3,000 square feet of ground floor commercial space. The second site will feature a four-story walk-up building with a two-bedroom unit and 11 three-bedroom units.

“This $18 million investment in Roxbury’s Dudley Square will transform two prominent vacant lots into modern buildings with 43 affordable, energy-efficient homes for low income families,” according to Madison Park Development Corporation CEO Jeanne Pinado.

A recent report issued by the U.S. Green Building Council (USGBC) and quoted by the Boston Herald shows that the state of Massachusetts reached No. 4 on USGBC’s annual list of energy-efficient and environmentally friendly buildings. With 106 green developments certified in 2012 or 2.05 square feet of LEED space certified per person, Massachusetts moved up three positions from 2011. Atlantic Wharf, a waterfront office tower, was the first skyscraper to achieve LEED Platinum in Boston.

Rendering courtesy of MassDevelopment
Chart via USGBC