40 affordable rental homes first to be built under Cambridgeport rezoning
Posted on May 16, 2012
CAMBRIDGE, May 16, 2012 --- Of all the people mentioned for playing a part in the construction of Putnam Green, the person who was thanked most often and most warmly was the late Geneva Malenfant, a community activist and Cambridge resident who was one of the people responsible for making this 40-unit affordable rental housing development a reality.
"Today not only marks an achievement in providing affordable, energy efficient homes for families in Cambridge but also celebrates the efforts of Geneva Malenfant, an activist whose passion for community and housing development is embodied in Putnam Green," said Peter Daly, executive director of Homeowners Rehab Inc., the Cambridge-based nonprofit that developed the property.
Malenfant, who died in 2009 at age 70, helped spearhead the effort to rezone this industrial area known as Cambridgeport so that it would encourage residential development. Putnam Green is the first residential development to be built under the new zoning rules. (Note: link to location shows picture of industrial building that was removed to make way for housing). To honor Malenfant's contribution, local artists created a mosaic at the building's entrance depicting the community coming together. The colorful scene includes an image of Malenfant at her kitchen table, where she often met with various groups and achieved consensus on issues crucial to the city's neighborhoods. The mosaic was unveiled at the end of the grand opening ceremonies on April 13.
Putnam Green was built on the site of a former vacant lab building and brownfield site. The 40 affordable rental homes are located in two new wood-frame buildings. One building has three stories with six apartments. The other building is four stories with 34 apartments and an underground garage. The unit mix consists of 10 one-bedroom, 20 two-bedroom and 10 three-bedroom apartments. All units will be affordable to households below 60 percent of area median income, or no more than $58,680 for a household of four. Four units will be affordable to households below 30 percent of area median income ($29,350 for a household of four).
The development was financed primarily through federal Low Income Housing Tax Credits awarded by the state Department of Housing and Community Development (DHCD), with the Massachusetts Housing Investment Corp. as the tax credit investor. The project received additional funding from the state's Affordable Housing Trust Fund and funding from MassDevelopment to do soil remediation on the site. The Massachusetts Housing Partnership (MHP) will provide permanent financing, having made a $2.82 million commitment from its bank-funded loan pool.
"When it comes to affordable housing, Cambridge sets the standard," said Clark Ziegler, MHP's executive director. "They don't just do it to create affordable housing, they do it because they know that if we're going to create jobs and support our economy, we need to build more housing. Cambridge and Massachusettsare blessed with a great economy but if we don't build the affordable housing we need, we're going to squander our chance to reach our potential."
Additional funding came from the City of Cambridge's Affordable Housing Trust Fund, Neighborhworks America, the Cambridge Housing Authority and the Metropolitan Boston Housing Partnership. Putnam Green boasts numerous green features, including a solar hot water system, solar electrical system for common areas and use of recycled products in construction. Funders of the buildings many green features include CBS EcoMedia, Enterprise Green Communities, the International Brotherhood of Electrical Workers, the Massachusetts Clean Energy Center and NStar.
For more information about Putnam Green and MHP's lending programs, contact Director of Lending David Rockwell at 617-330-9944 x222 or drockwell@mhp.net.