(Rendering of Concord Highlands, a 98-unit affordable housing development in Cambridge. Image from ICON Architecture.)
Concord Highlands celebrated the groundbreaking on Friday October 5th with local and state officials, lenders, and community groups.
Concord Highlands is the largest new construction affordable housing development in the City of Cambridge in 40 years. Located across from Fresh Pond in the Alewife-Cambridge Highlands neighborhood, the development will provide 98 apartments that are affordable to low‐, moderate‐ and middle‐income households for the long term.
Homeowner’s Rehab, Inc. (HRI), the owner/developer of Concord Highlands, has been committed to building and preserving sustainable, affordable housing in Cambridge for over 40 years. This development will provide crucial affordable housing units in an area of Cambridge that is rapidly transforming from an industrial and manufacturing district into a new mixed-use neighborhood of offices, retail, and residential buildings. The Concord Highlands development will link residents and families with local amenities, including transit, schools, businesses, and open space at the Fresh Pond Reservation.
Sixty of the apartments are eligible for households earning up to 60% Area Median Income (AMI), and HRI has committed to setting aside ten of these units to households with incomes at or below 30% AMI. The remaining units are divided into 21 moderate-income units for households earning between 61-80% AMI and 17 middle income units for households earning between 81 100% AMI.
“This is a great project for the City of Cambridge and we are very pleased to play such an important role. We look forward to welcoming the families to their new home," said Peter Daly, Executive Director.
“We are pleased to celebrate with HRI the groundbreaking on the largest new affordable housing development undertaken in Cambridge in almost 40 years. The 98 new affordable units are a direct result of the combined efforts of many stakeholders working collaboratively to meet the housing needs of our community,” said City Manager Louis A. DePasquale. “In the last 5 years, City has financed the creation or preservation of more than 600 affordable units, and this year has committed more than $24 million to affordable housing and homeless service efforts," said Chris Cotter, Housing Director of City of Cambridge.
Concord Highlands is aiming for the highest levels of resiliency and sustainability through high quality materials, energy efficient equipment, and a podium-style building structure to meet Enterprise Green Communities and Passive House standards. It also incorporates Active Design principles, facilitating a healthy environment for residents.
To date, Concord Highlands has received major financial support from the City of Cambridge, the Massachusetts Housing Finance Agency, the Massachusetts Department of Housing and Community Development (DHCD), and TD Bank. The development’s broad range of affordability, as well as access to transit, and other community amenities, will greatly expand affordable housing opportunities in this neighborhood. HRI is excited and proud to develop another innovative, high quality affordable housing project that will improve the quality of housing for low-to moderate- income families as well as preserve the diversity of Cambridge residents.
About Homeowners Rehab, Inc.
Homeowner’s Rehab, Inc. is a 501(c)3 organization founded in 1972. With an initial focus on homeownership, HRI has strived to support mixed‐income communities, rich in ethnic and racial diversity. Over the past 20 years, HRI has shifted its focus from homeownership to include rental properties as a means to create new opportunities for households that cannot compete in Cambridge’s housing market. To date, HRI has developed more than 1,500 units of housing, owns more than 1,337 apartments, and 55,000 square feet of commercial space in Cambridge. For more information about HRI please visit www.homeownersrehab.org.