Mass. Ave. Preservation Project

On Thursday, October 12, 2006, the Housing Corporation of Arlington celebrated the acquisition of eighteen one-bedroom apartments in Arlington, to provide sustainable, affordable housing options for Arlington’s low- and moderate-income residents. HCA marked their newest acquisition at a ceremony held at 1016 Massachusetts Avenue in Arlington, one of four properties purchased as part of endeavor.

In 2005, the Housing Corporation of Arlington began an initiative to acquire larger apartment buildings in Arlington to provide affordable, mixed-income housing for residents. Following a year of negotiations, this effort found success in late 2006 when HCA purchased eighteen apartments within four brick buildings along Mass Ave. in Arlington, now known as HCA’s “Mass Ave Preservation Project.”

Over the years the Town of Arlington has been a vital partner in the success of HCA’s affordable housing programs. Thanks to a generous commitment of $450,000 from Arlington’s Community Development Block Grant (CDBG) allocation, HCA raised a total of $3.2 million to support the acquisition and improvement of these properties.

In addition to the substantial support form the Town of Arlington, this project brought together the efforts of several other affordable housing lenders including the Massachusetts Housing Partnership and the North Suburban HOME Consortium.

Constructed in the 1940’s as “worker housing”, the four acquired buildings suffered from deferred maintenance and needed significant upgrades. For the second time in two years, the Housing Corporation teamed up with Feinmann of Arlington, who provided construction and project management services, donating a substantial portion of its time and services to the project. Feinmann first partnered with the HCA in 2004 by renovating kitchens and bathrooms within two recently acquired two-family homes.

With the acquisition of these buildings, HCA’s portfolio now totals 46 affordable apartments, including 18 one-bedroom, 18 two-bedroom, 7 three-bedroom and 3 four-bedroom units. HCA has preserved the newly acquired properties as a mixed-income, affordable rental development. Apartments are offered with a range of affordability; units are reserved for households earning up to 50% of the median income ($29,450 for one person) and some for those earning up to 80% of the median income ($46,300 for one person).

Improvements are scheduled for completion in the spring of 2007. Applications [link] are available for these one-bedroom units, as well as larger apartments in one of our two-family homes.