2017: Year in Review

Rarely throughout the year do we pause to mark important milestones in our work, so we look forward to this time of year when we can slow down a bit to reflect on the year and look ahead. We’ve been fortunate in 2017 to lead and participate in some amazing, award winning projects and lay the groundwork for what we hope will be a productive 2018 and beyond. As we say and feel more and more every year, we are so appreciative of the many partners that we work with that make our work, and the important results it produces, possible.

• Residences at Fairmount Station, a 27 unit affordable and workforce housing project across the street from the Fairmount commuter rail station in Boston’s Hyde Park neighborhood broke ground. The foundations and utilities are in, steel is up, and the project is due to be completed in the fall of 2018, providing the first affordable housing for Hyde Park in more than two decades.
• Following our smart growth development strategy, we purchased 24 Gould Street in Reading and obtained permits this past fall. Less than 200 yards from the Reading commuter rail and located in Reading’s downtown commercial district, the project will provide 3,500 square feet of retail, 55 residential units, and amenities.
• Also next to transit, this winter and into 2018, we are advancing the permitting for a site next to Dorchester’s Shawmut Red Line stop. We’re working with neighborhood groups to realize a mixed-income homeownership project that will replace a generations old auto body shop.
• Mosaic, a project we completed in 2016 won the Urban Land Institute’s Jack Kemp Workforce Housing Award this year. We also sold the last (and 43rd) affordable unit condominium in 2017.
• We completed the moderate rehabilitation of 81 affordable apartments across 17 buildings in Mission Hill in 2017. Not only were the century old buildings restored to historic standards, but the front and rear yards were completely reimagined to provide for private and public gathering spaces for residents and a restored streetscape.
• Our partnerships with like-minded clients committed to affordable housing, smart growth, and community development remains a key aspect of our work and mission. In 2017 we expanded relationships and built new ones with organizations such as the Roxbury Tenants of Harvard, Southwest Boston CDC, Youth Enrichment Services, United South End Settlements, and the Boys and Girls Club of Brockton working on transformative real estate projects across the Commonwealth.

Residences at Fairmount Station Out of the Ground

Residences at Fairmount Station, a 27 apartment project immediately adjacent to the Fairmount Station Commuter Rail Station in Hyde Park, is progressing on schedule through construction with a late 2018 opening expected. The project is a collaboration of Traggorth Companies and Southwest Boston Community Development Corporation based in Hyde Park. 

 The $8 construction project, built by Delphi Construction  is being funded by Webster Bank, Mass Housing, the Department of Neighborhood Development, the Department of Housing and Community Development, and the National Equity Fund.

Project updates can be found on www.residencesatfairmountstation.com 

Mosaic Named Finalist for ULI Kemp Award

Mosaic on the Riverway was recently named a finalist of the Urban Land Institute 2017 Jack Kemp Excellence in Workforce and Affordable Housing Award. The national award recognizes exemplary developments that ensure housing affordability for people withe a range of incomes. Mosaic on the Riverway consists of 60 affordable rental units, 43 affordable condominium units, and 42 market condominium units, serving formerly homeless households, to those paying market rate. 

The winner will be formally announced at ULI's Housing Opportunity Conference in New Orleans this fall. 

ULI's press release can be found here. 

2016: Year in Review

As you'll read below, the highlights of 2016 have been numerous and we're so grateful for the opportunity to continue to advance innovative projects that push the boundaries in multi-family housing and community development. Thanks to all of our amazing partners and we look forward an equally exciting and productive 2017! 

• On time and on budget, Mosaic wrapped up this fall. As of this writing, the 42 market rate condominiums are sold, the 60 affordable rentals are nearly full, and the 43 affordable condominium sales will wrap up in 2017. The project has been a tremendous success and most importantly will provide affordable housing near jobs and transit in Boston's Longwood Medical Area. 
• J.M. Lofts in Haverhill, completed construction in the summer and was an instant hit. It's 18 one and two-bedroom lofts were leased at record setting rents in Haverhill, and the retail is fully leased with some of the most innovative businesses in Haverhill: Battle Grounds Coffee, K Modern Furnishings, and another new, but well known Haverhill business that is already expanding. 
• Also in Haverhill, we just completed this month the permitting for 87 Washington Street, just down the street from J.M. Lofts. We're proposing 24 loft apartments with 3,000 square feet of retail. We're excited to build on the momentum happening in Haverhill.  
• We began a partnership with Southwest Boston CDC around the Residences at Fairmount Station, a 27 unit affordable rental building directly adjacent to the Fairmount commuter rail stop. The project, was awarded the necessary funds to move forward with construction in 2017 and we are proud to be associated with the first affordable housing to be built in Hyde Park in more than two decades. 
• Cable Mills completed construction in late Spring with the demand for loft apartments in Williamstown off the charts. After years of collaborative efforts to make this project happen, seeing a full building with kids and families playing by the river is one of the major highlights of 2016. 
• Given the success of Cable Mills, we've been collaborating with Merge Architects planning the River Houses at Cable Mills, our for-sale option in spectacular new construction homes along the Green River. 
• One of the best parts of our work is teaming up with amazing non-profits to help them advance their real estate objectives. We've expanded our work with Roxbury Tenants of Harvard and Asian Community Development Corp while working for the first time with Allston Brighton CDC and Youth Enrichment Services (YES!). 
• While we completed our last development project in Chelsea in 2015, we couldn't stay away for long. In the spring of this year we purchased 466 Broadway right in the center of Bellingham Square. An all affordable, historic building with ground floor retail, we're undertaking repairs to improve the resident's quality of life and planning for the future of this great building in a great city that we love.
• And last but not least, we've welcomed Dave Danker to the team this year as an Asset Manager as we continue to operate and always improve our growing portfolio. 

Mosaic Complete, Market Rate Condos 100% Sold

Mosaic on the Riverway recently obtained it's certificate of occupancy and has moved in it's first residents over the past few weekends. The 42 market rate condominiums are 100% sold, the affordable condominiums are being processed for sale through the lottery in August, and we expect occupancy of the 60 affordable rental units this month. 

In addition to a residential lobby, the ground floor features a 9,000 SF early education center scheduled to open in the Spring of 2017. 

For more information about the project visit here.

J.M. Lofts in Haverhill Now Open!

The first residents of J.M. Lofts in Haverhill moved in over this past weekend! We're also excited to announce that Battle Grounds Coffee will be moving into one of the retail locations downstairs providing an exciting new hangout spot for our residents and the rest of Haverhill! 

A ribbon cutting will be held on June 7, 2016 at 2pm. 

Exposed brick and beam, tall ceilings, create amazing living spaces at JM Lofts. 

Each unit has views of the surrounding historic district and some have a glimpse of the Merrimack River. 

Cable Mills Now Open!

Cable Mills in Williamstown, Massachusetts celebrated a ribbon cutting today with friends and colleagues. The 9 acre site, $26M project, consisting of 61 apartments is over 70% leased one month after opening. 

To read more about the event visit Iberkshires and the Berkshire Eagle. 

http://www.iberkshires.com/story/51968/Patience-Pays-Off-as-Ribbon-is-Cut-at-Williamstown-s-Cable-Mills.html

http://photos.berkshireeagle.com/2016/05/25/photos-cable-mills-in-williamstown/#1

A before and after looking from the north parking lot to the main entry. 

2015: The Year in Review

Flats at 22 in Chelsea's Box District. 

New windows installed at J.M. Lofts in Haverhill, MA.

Mayor Walsh joined us for a topping off event at Mosaic earlier this year. 

2015 was another great year for us at TC and thanks to all of our partners, friends, and family that helped make it possible. A few of the highlights: 

• Amid the snowstorms of last winter in February, we opened Flats at 22 in Chelsea, and by the time the snow melted, we were fully leased. It represented our last project (for now at least!) in the Box District. As we wrapped up the Silver Line started construction and be completed in late 2016.
• As the snow cleared we also started construction on Mosaic, 145 units of mixed income housing in Boston's Mission Hill neighborhood. We've sold nearly 20% of the market rate condominiums so far, and are ramping up affordable sales and leasing for later this spring. Occupancy is expected for Fall of 2016. 
• We broke ground on the historic J.M. Lofts in Haverhill, transforming a former shoe factory into 18 one and two-bedroom lofts. Construction is moving along nicely and the project due to be open in the Spring of 2016.
• 2015 was a transformative year for Cable Mills. Due to open later this winter, and with pre-leasing going strong, the living spaces that have been created -- with views of the Green River, tall ceilings, massive windows, and exposed brick and beam finishes -- are remarkable. 
• We managed the refinancing of 81 units of affordable housing in Mission Hill owned by the Roxbury Tenants of Harvard, allowing for it's long term preservation, while also allowing for an overdue renovation. 
• We moved our office from Back Bay to Downtown Crossing (50 Summer Street, above the 7 Eleven) in the summer allowing us a bit more room to grow, and we welcomed Andrew Guild and Dan O'Shea to the team this year. 

Mosaic on the Riverway Now Selling, Topping Off Celebration

Today, we celebrated a 'topping off' of the steel at Mosaic with Mayor Marty Walsh, Councilor Zakim, and Undersecretary Chrystal Kornegay. Photos are below. 

The topping off marks a significant milestone in the construction of the aptly named, Mosaic on the Riverway development, which will provide 60 Low Income Housing Tax Credit (LIHTC) rental units, 43 affordable condominiums and 42 market-rate condominiums. Bringing much needed high-quality market rate and affordable for-sale and rental housing options for the diverse and growing workforce of the Longwood Medical area, the project also includes a childcare center that will serve approximately 100 children.

Funders for the project include Bank of America, Brigham and Women’s Hospital, the City of Boston, the Commonwealth of Massachusetts, The Roxbury Tenants of Harvard, Inc., Boston Community Capital and the Massachusetts Housing Partnership.

The project is slated for completion in 2016. The market-rate condominiums are now for sale through Advisors Living, the project’s exclusive broker and www.mosaicbostoncondos.com. The affordable rental and homeownership marketing will start in the spring of 2016.  

 In addition, the sales office is now open and the interest in the market rate condominiums has been tremendous!

Traggorth Companies serves as project manager for the Mosaic. 

Dave on Panel at NAIOP: The Next Wave of Condos

Today Dave spoke on a panel of experts about the rise in the condominium market here in Boston and specifically the challenge in developing affordable and workforce for-sale housing. There was a crowd of more than 300 gathered for the breakfast panel and Dave was joined by Nick Iselin of Lend Lease, David Nagahiro of CBT Architects, and Jordan Warshaw of The Noannet Group, LLC

Issues Dave discussed pertaining to workforce housing included:

• Are the 'amenity wars' really good for producing cost-efficient housing? Why are we not encouraging residents to get out into the neighborhood and support existing or potential fitness, coffee shops, yoga studios, and more? Amenities drive up the cost of production and condominium fees. 
• Shared parking should be a priority. The cost of producing parking in every new building is extremely expensive in many cases.
• State disposition of land targeted to housing and coordination with DHCD will be important.
• The permitting process is long and arduous - anything that can deliver units faster will reduce costs and help increase production for all types of housing
• Increasing and adjusting resources that promote mixed-income housing 

For more information on the event. Click here. 

Preview of the Mosaic on the Riverway

MosaicBostonCondos.com is live with a landing page (full website is in the works) and renderings of the spaces are finalized! The signage along the Riverway went up on the site last week and the response has been OVERWHELMING. Next week the sales trailer arrives and we start to build it out in anticipation of a Fall launch.  

Here's a sneak preview:

Spring Construction Update: Williamstown, Haverhill, & Boston

From Williamstown, to Haverhill, to Boston's Longwood Medical Area, there is a lot underway these days out in the field. Here's a snapshot: 

Cable Mills: Spring has arrived in the Berkshires and what a spectacular sight and feeling given the cold winter. Nonetheless, thanks to the great crew from NEI and Finegold Alexander, we're on target for an end of 2015 completion and in the middle of a lot of masonry, carpentry, and  concrete work. In addition, we just launched our marketing effort and we've already signed up a few apartments. The interest and demand have been tremendous!  Check out the website at www.cablemills.com and take a moment to see the action in this video filmed by the folks at the Berkshire Eagle. 

Mosaic: Also known as Roxbury Tenants of Harvard Residential Building, this started in March and with an unrelenting effort by ADD Inc and Consigli, it is already 11 stories in the air with the elevator core. The project is one-of-a-kind in that it will have 60 affordable apartments, 43 affordable condominiums, and 42 market rate condominiums in the heart of the Longwood Medical Area. Marketing of the condominiums will begin later this summer so stay tuned! 

JM Lofts: Due to start full construction later this month and with the abatement work behind us, we're prepping window and steel shop drawings on this historic renovation into 18 residential units and 4,500 square feet of retail on Haverhill's Washington Street. Photos to come soon as we get moving, but in the meantime, learn more about the project here. 

Cable Mills Begins Construction, Flats at 22 Leasing Update

We're through two months of 2015, and two projects have hit significant milestones already.

In between snow storms, we received our certificate of occupancy for the Flats at 22 and there are only six of fifty apartments remaining. We've been delighted at the tremendous response from people who love the tall ceilings, big windows, state of the art heating systems, and underground garage. 

Cable Mills, the renovation of 3 mill buildings in Williamstown, MA into 61 loft apartments has started construction. 13-15'+ ceilings, absolutely massive windows, timber framing, and exposed brick will be the features of these amazing lofts. The view won't be bad either -- the mills have a front row seat to the Green River rapids and the Berkshire mountains beyond. For more about this amazing project visit www.cablemills.com 

2014: The Year in Review

Another great year (almost) in the books and we'd like to thank all of our family, friends, and colleagues for making this a tremendously successful year and we look forward to more in 2015! Just a few of the things that made 2014 memorable....

Flats at 22 under construction, due for completion in January 2015

Governor Patrick cuts the Ribbon at the Flats at 44, completed March 2014

The new computer lab at the RTH Community Center

Off-Centre Lofts in Jamaica Plain, completed in September 2014

• We completed the historic rehabilitation Off-Centre Lofts in Jamaica Plain - 21 new studio and one-bedroom lofts fully leased.
• The Flats at 44 opened in March and was fully leased by mid-year representing the first Housing Development Incentive Program project in the Commonwealth. Governor Patrick helped us cut the ribbon.
• Following closely behind we broke ground on 50 apartments at the Flats at 22 and expect to finish this coming month. More than half of the building is pre-leased.
• We broke ground on Cable Mills, the conversion of a beautiful historic mill into 61 loft apartments in Williamstown, MA across from Williams College.
• Completed the 28,000 square foot Roxbury Tenants of Harvard Community Center creating an amazing community space provide new wellness and educational opportunities for the residents it serves.
• We permitted 18 lofts and 4,500 square feet of ground floor retail at the former Surplus Office Supply building as momentum continues to build for what will be a remarkable transformation for downtown Haverhill.
• We accepted a national Urban Land Institute Award along with our Box District partners for our work in Chelsea, and spoke on several panels about workforce housing, modular housing, and reducing costs of development. 
• Dave and Julia welcomed twins to the family! Whit and Ellie Traggorth were born in September.

Flats at 22 Featured in the Boston Herald

As the Flats at 22 in Chelsea nears completion for this January, the Boston Herald stopped in for a visit to highlight the property and the tremendous value that it presents for those looking for market rate housing that doesn't break the bank. You can find the article here.

Atlas Lofts and the Flats at 44 Gerrish are completely full, leaving the Flats at 22 as the last remaining opportunity to live in the Box District. 

Boosting Workforce Housing: Lessons from Gateway Cities

In the December 1 issue of Banker and Tradesman, Dave highlighted Chelsea and Haverhill as two places where workforce housing is getting built and the lessons that successful projects in those cities might mean for the rest of the Commonwealth. To read the article, click here.

Box District Wins National ULI Award

Dave was down in New York City this past week with Ann Houston, Executive Director of The Neighborhood Developers, and Jay Ash, Chelsea's City Manager, at the Urban Land Institute for their Fall Meeting where it was announced that the Box District won the Jack Kemp Excellence in Affordable and Workforce Housing Award which celebrates and promotes the exemplary efforts of real estate and public policy leaders from across the country who are working to expand affordable and workforce housing opportunities.

We are incredibly thankful to all of our partners that helped envision the Box District - Mitchell Properties, the City of Chelsea, and The Neighborhood Developers - for the opportunity to help create this amazing neighborhood. TC provided project management services for Atlas Lofts, the Flats at 44, and the Flats at 22. 

(L to R) Jay Ash (City of Chelsea), Dave Traggorth (Traggorth Companies), Ann Houston (The Neighborhood Developers), Marty Jones (MassDevelopment), and Sarah Barnat (ULI New England)

A video of the finalists in the 2014 ULI Terwilliger Center for Housing awards. Learn more about the program and past winners at http://on.uli.org/1yHObRO

RTH Community Center Ribbon Cutting - October 30

Join us and the Roxbury Tenants of Harvard at a ribbon cutting of their state-of-the-art new community center! For the invitation, click here. 

Off-Centre Lofts in Jamaica Plain Completed

Just in time for the 15 September 1 move-ins, the conversion of the former Norbert School into 21 lofts was completed this week. It's a stunning building with the most amazing windows we've ever seen and we can't wait for people to start enjoying the great light-filled living spaces.

As we all know, real estate development is truly a team effort and two key members of the team were our architect, RODE Architects and our contractor, Stack + Co. both based in Boston. 

A second story loft space with original hardwood floors, full size windows, tall ceilings, and stainless appliances.

Flats at 22 Construction Continues!

Concrete foundations are going in this week in preparation for an August modular box set! A panoramic from the site visit today in Chelsea. The building will feature 40+ underground parking spaces with 50 apartments above. The site is immediately adjacent to the future Silver Line extension and Box District Station.