Boston, Massachusetts city officials on October 1, 2105 confirmed that Corcoran Jennison Associates has been chosen to redevelop the Boston Housing Authority’s massive public housing complex in Charlestown.
The Boston-based affordable housing developer will partner with SunCal, of Irvine, Calif., to turn Boston’s largest low-income housing development into an even larger mixed-income neighborhood, with at least 2,400 apartments on 24 acres on the north side of Charlestown.
It is the first of several deals that the Housing Authority is planning with private developers, offering them the right to build market-rate housing on public sites in exchange for rebuilding the low-income units.
“In order to meet the housing needs of all of our residents, we must think creatively to preserve our existing affordable housing stock,” Mayor Martin J. Walsh said in a statement. “I thank the Corcoran team for understanding that mission and look forward to what the future holds for this development.”