Affordable Housing in Arlington MA

Affordable housing in Arlington

I came acroos this article in the Boston Globe Aug 22. This is great news and much needed here in Arlington...

Arlington A nonprofit affordable housing organization has signed a purchase and sale agreement to buy three apartment buildings in East Arlington and convert them into 32 units of affordable housing. David Levy, executive director of the Housing Corporation of Arlington, said his organization is hoping to finalize the purchase of the Massachusetts Avenue properties this fall. Until the deal is closed, Levy did not wish to disclose the address of the buildings.

In addition to converting the apartments from market-rate to affordable units, offered to income-eligible tenants, Levy said, the project will also allow the Housing Corporation to preserve the history of the buildings, which are each about 100 years old. “It’s a great opportunity,” Levy said. “It’s historic buildings that need some TLC.” The project will cost almost $9 million, Levy said, making it the largest undertaking attempted by his organization. A mix of private and public financing will be needed for the project, and the group will apply for state affordable housing funding next month, he said. — Brock Parker