CORCORAN-SUNCAL SUBMITS LETTER OF INTENT, PROPOSES REDEVELOPMENT OF THE BUNKER HILL PUBLIC HOUSING DEVELOPMENT

One Charlestown will include 3,200 units of mixed-income housing

CHARLESTOWN – August 17, 2016 — (RealEstateRama) — Corcoran-SunCal, in partnership with the Boston Housing Authority, today filed a letter of intent with the Boston Redevelopment Authority for design and construction of the redevelopment of the Bunker Hill Public Housing Development, known as One Charlestown.

“We are proud to present our plan for One Charlestown to the BRA and the community for review and consideration,” said Joseph Corcoran, President of Corcoran Jennison Associates. “The master plan and design for One Charlestown has been a thorough and extensive planning process, with our team working together with Bunker Hill residents and Charlestown neighbors every step of the way. This new community will provide something for everyone – honoring the rich history of the neighborhood while looking to the future for residents.”

A new mixed-income community will replace all of the existing public housing on a one-for-one basis, as well as add market-rate housing to attract new residents and revitalize the neighborhood. The 27.6 acre site will be developed into a new community consisting of 13 blocks of well-lit, tree-lined city streets that will be fully integrated into the Charlestown neighborhood. The current plan calls for approximately 3,200 units altogether, replacing all 1,100 current units of public housing and adding 2,100 units of market-rate, rental, and for sale housing. All current residents will have the right to return to the new development.

“The One Charlestown model – a robust partnership with residents combined with the introduction of mixed income units – is the single best way for public housing to be preserved across the entire City of Boston,” said Boston Housing Authority Administrator Bill McGonagle.

The project will create new mixed-use buildings and a street network that restores connections between a diverse community and the rest of the neighborhood. All units at One Charlestown will include finishes, features, and amenities that are typical of quality new housing in Boston. The community will include new retail opportunities along Bunker Hill Street, open spaces and courtyards, brightly-lit walkways and underground parking, in addition to community services so that residents may enjoy a vibrant, healthy and more sustainable living experience in Charlestown.

The full expanded project notification form will be filed with the BRA within the next 30 days.

###

About Corcoran-SunCal

Corcoran-SunCal is a partnership between Corcoran Jennison Associates and SunCal. Together, they are focused on the concept that mixed-income communities offer the richest social context for all their residents, creating a sustainable and safe environment for everyone while also offering the best opportunities for advancement for their low income population. This new partnership is providing a new model for the redevelopment and repositioning of public housing in the United States.

About the Boston Housing Authority

The Boston Housing Authority (BHA) is a public agency that provides subsidized housing to low and moderate income individuals and families. In addition to conventional public housing communities throughout Boston, BHA offers rental assistance programs. BHA receives federal and state funding in order to provide housing programs to individuals and families. BHA’s mission is to provide stable, quality affordable housing for low and moderate income persons; to deliver these services with integrity and mutual accountability; and to create living environments which serve as catalysts for the transformation from dependency to economic self-sufficiency.

SHARE
Previous articleThe Boulder Group Arranges Sale of Single Tenant Net Leased American Mattress
Next articleWoodstock Welcomes Derek Barthel as Research Associate