WiSe Urban and Nuestra Comunidad Begin Boston Rehabilitation Project
By Jessica Fiur, News Editor
Boston—Nuestra Comunidad Development Corporation and WiSe Urban Development are forming a joint venture to rehabilitate Washington Park, a multifamily community in Boston owned by Washington Park Limited Partnership.
Washington Park is a nine-building, 96-unit mixed-income community. Eighty-six of the 96 units will become affordable after the rehabilitation, which is expected to create 100 construction jobs.
“Preservation of affordability and critical repairs will keep 96 families in their homes for the long term,” David Price, executive director of Nuestra Comunidad Development Corporation, says. “Providing that platform of stability is so important for the families living in Washington Park Apartments. We’re proud to be working with WiSe and our other partners to help improve these homes and enhance the surrounding neighborhoods within Roxbury.”
Renovations will include new kitchens, bathrooms and living areas. Additionally Nuestra and WiSe will add high-efficiency upgrades to the HVAC systems in all of the units. The apartments will also be given new Energy Star appliances and lighting including dishwasher, disposals, ovens and refrigerators. The mechanical and electrical systems will be upgraded, and all windows will be replaced.
The architect for Washington Park is The Architectural Team, and the contract is Keith Construction. The property manager will be WinnResidential.
Nuestra and WiSe worked with the Department of Housing and Community Development, MassHousing, the City of Boston and the Massachusetts Historical Commission to secure financing. They also received private financing from the Bank of America and the Boston Community Loan Fund.
“We are very excited to partner with Nuestra on this redevelopment project and aid in the rehabilitation of Washington Park,” Darryl Settles, president of WiSe Urban Development, says. “This rehab is a perfect example of the type of project WiSe plans to become more involved with. We look forward to continuing our work to strengthen communities alongside our valued non-profit partners.”
Washington Park is expect to be completed in July 2014.Tags: affordable housing, Mergers and Joint Ventures, Nuestra Comunidad Development Corporation, redevelopment, renovation, Washington Park, WiSe Urban Development