Brookline, MA Chestnut Hill Realty, one of New England’s leading residential real estate companies specializing in multi-family housing, hosted a groundbreaking ceremony on July 13 for the first phase of 175 units created under Chapter 40B . MassDevelopment was the development grant agency and provided the tax-exempt and taxable bonds to help fund the new housing community. The project, known as the South Brookline Residences in Hancock Village, is the first new rental townhouse built in Hancock Village since the 1940s.
The grand opening took place at Hancock Village, led by Chestnut Hill Realty Founder and CEO Ed Zuker. The ceremony was attended by real estate executives from Chestnut Hill Realty as well as local and state officials, including Dan Rivera, CEO of MassDevelopment, and Mel Kleckner, city administrator.
“We are proud to bring these fully modern townhouses to Hancock Village. They are the first to be built here since WWII, ”Zuker said. “These new townhouses also enhance the existing 789 townhouses in Hancock Village.”
Rivera said, “With the new development of Chestnut Hill Realty residences in South Brookline, 175 additional families will have access to high quality housing in Hancock Village. MassDevelopment was proud to issue approximately $ 80 million in bonds to support the construction of these new affordable and market rate housing units, and was happy to celebrate with project partners at the launch. Projects like these make significant strides in alleviating the Massachusetts housing crisis, but there is still work to be done – which is why the Baker-Polito administration has offered $ 1 billion in federal funding to support key priorities such as housing and home ownership across the Commonwealth. “
In honor of the occasion, a donation of $ 25,000 was made to the Brookline Teen Center, which provides a platform where all teens can explore, create and discover who they are. Through responsive programming, they prepare teens to navigate safely through adolescence in a stimulating and joyful environment.
Ideally located, these new apartments harmoniously blend traditional New England charm with contemporary flair. In addition to convenient on-site parking, the new three-bedroom / two-and-a-half bath units offer central air conditioning, a laundry room with washer and dryer, luxury storage systems, quartz countertops and a master suite. with closet and private bath.
Units also include amenities such as a breakfast bar, GE Energy Star stainless steel appliances, custom maple kitchen cabinets, recessed lighting, crown molding, hardwood floors, and a kitchen counter. open floor.
Chapter 40B, the Commonwealth’s Regional Planning Act, promotes responsible housing growth that significantly accommodates low-income households. Affordable apartments in this development are available to families earning less than 50% of the area’s median income. The law balances the regional need for affordable housing development with local public health, public safety, design and environmental needs.