MassDevelopment

MassDevelopment bond jump-starts Codman Sq. project

March 7, 2019 : Dorchester Reporter, by Daniel Sheehan


The Codman Square Neighborhood Development Corporation (CSNDC) plans to preserve 21 units of affordable housing and build an additional 19 at two Dorchester multi-family housing facilities were given a major boost last week in the form of a $10 million bond issued by MassDevelopment to Talbot Commons I Limited Partnership, a CSNDC affiliate.

The corporation will renovate three units and construct another 15 units at Talbot Station, a housing development situated at Mallard Avenue and New England Avenue in Codman Square. It will also renovate 18 units and build an additional 4 units at Norfolk Terrace, a development located less than a mile to the south, at the corner of Norfolk Street and Norfolk Terrace.

In total, the collaborative project spearheaded by the Codman Square NDC and the state’s finance and development agency will secure 40 units of affordable housing in the Codman Square neighborhood.

“Codman Square NDC is pleased to work with MassDevelopment on financing for our Talbot Commons 1 Limited Partnership,” said executive director Gail Latimore. “We look forward to bringing these 40 units of much needed affordable housing to Dorchester as part of our anti-displacement strategy in the face of rapidly increasing housing costs. We look forward to continuing to work with our partners in the city and state to break ground this spring on this project.”

According to Latimore, work on the project could begin in April.