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HIT Partners with WinnCompanies for $1.5 Billion Redevelopment of Mary Ellen McCormack Public Housing in Boston

9/7/2017

The HIT is partnering with WinnCompanies to finance the $1.5 billion redevelopment of the 27-acre Mary Ellen McCormack Public Housing complex in South Boston. The property will transform 1,016 units of federally subsidized housing into a modern 3,000-unit, mixed-income community. The new community will feature job training and education services while offering housing for all income levels including 200 units of workforce housing and approximately 1,800 market rate apartments.

“We look forward to working with WinnCompanies and the BHA, and appreciate their commitment to building affordable housing, and building it with 100% union labor,” said Ted Chandler, Chief Operating Officer of the AFL-CIO Housing Investment Trust.

The HIT has invested nearly $400 million into 12 projects in Boston generating 3,330 union construction jobs and spurring $1.5 billion in total economic impact for Boston’s neighborhoods. The arrival of 200 brand new workforce apartments at the redeveloped Mary Ellen McCormack will provide homes for middle-income residents who have been priced out of other areas in Boston.

*For more information on Mary Ellen McCormack Public Housing and WinnCompanies please visit http://bostonrealestatetimes.com/winncompanies-announces-development-team-for-1-6-billion-public-housing-redevelopment-in-boston/ and http://www.winncompanies.com/press-releases/action/view-press-release/press_release[id]/533/