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.

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. 

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. 

RTH Awarded State's First Homeownership Resources in Years

Governor Patrick announced Friday in Uphams Corner that our client, the Roxbury Tenants of Harvard, which is redeveloping a portion of the former Massachusetts Mental Health Hospital site in Boston's Longwood Medical Area, will receive critical State funding for 43 new affordable condominiums in the project. This funding is the first in Massachusetts for affordable homeownership since before the recession in 2008. 

The 43 condominiums are part of a larger multi-family project which will consist of 60 units of affordable rental housing, 43 units of affordable condominiums, and 42 units of market-rate condominiums. The building, which will be 11 stories tall, and is designed by ADD Inc., will sit on a one acre lot next to the Brigham's Building of the Future which is currently under construction.

TC provides RTH with turnkey project management services related to this project and assisted with application and preparation for the State funding rounds. 

For more about the announcement, click here.

 

 Rendering from Fenwood Road and Binney Street looking toward Brookline Ave.

Rendering from Fenwood Road and Binney Street looking toward Brookline Ave.

 Overall site plan and neighborhood context

Overall site plan and neighborhood context