For Immediate Release
February 07, 2012
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Mayor Thomas M. Menino today joined the ETC Development Corporation and residents to celebrate the Grand Opening of ETC’s $10M elderly rental housing development, The Residences at Neponset Field. This new rental housing development project is located on a once-vacant, 3.5-acre site previously owned by the Perkit Folding Box Corporation, which closed operations on the site in 2002 in Boston’s Hyde Park neighborhood.
“First, I want to congratulate ETC for being our partner and providing housing stability to our senior citizens right here in Hyde Park,” said Mayor Menino. “I’m proud that the City of Boston’s over $2M investment in this development helped create 31 new units of affordable rental housing for our seniors overlooking the majestic Neponset River.
Today’s ceremony marked substantial progress on the redevelopment of this once-vacant site and yielded several community benefits, including the new landscaped park, and the redesign of the intersection where River Street connects with the Belnel neighborhood, designed to promote safety and alleviate additional traffic. A private way, Neponset Field Lane, was also created to provide new parking in the area. Construction of The Residences at Neponset Field generated approximately 72 construction jobs and 3 new permanent jobs. Future plans for the Tchapitoulas Street site include the creation of a single family or townhome development.
All of these rental units are for people who are 62 years old or older and are earning at or below 50% average median income (AMI). The building has 31 one-bedroom apartments, an elevator for handicap accessibility, an onsite laundry facility, and program space for residents on the ground floor with a beautiful community space leading out to a garden area fronting the Neponset River. All units are also universally adaptable for elderly occupants and three units are fully handicap accessible.
In accordance with the City of Boston’s Green Affordable Housing Program, the four-story, wood-framed building utilized several green building design techniques, earning it the development the distinction of being LEED-Homes “Silver” certified by the U.S. Green Building Council. The project also meets the U.S. Environmental Protection Agency’s Energy Star standards.
The City of Boston contributed over $2M to the Neponset Fields Development, and the State of Massachusetts contributed almost $3M to the development of this project. The project has also received HUD support of almost $5M in Section 202 Construction Loans and $400K in HUD DPPG program funding.