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.