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The Metropolitan
 Parcel
C, now known as The Metropolitan, leveraged our experience in developing
Oak Terrace to take on new challenges: the 5% owner-occupancy rate in
Chinatown and the increasingly expensive cost of housing in Boston’s
downtown core. ACDC pursued a development strategy that maximized
affordability in the building by leveraging the location, transit access,
and acceptable density incorporating profitable, market-rate condominiums
to subsidize affordable housing at a rate far beyond the City of Boston’s
own Inclusionary Zoning levels. The result is a mixed use high-rise
containing 251 rental and homeownership units, 115 of which are affordable
to low and moderate income families. The building is also home to four
grassroots non-profit organizations: The Boston Chinatown Neighborhood
Center, Chinese Progressive Association, Youth Essential Services, and
ACDC.
Accomplishments:
- The
Metropolitan’s condominiums doubled the owner-occupancy rate of
Chinatown from 5% to 10%
- Community space
offers permanent homes for four of Chinatown’s grass-roots community
organizations including the Boston Chinatown Neighborhood Center, the
Chinese Progressive Association, Youth Essential Services, and ACDC.
- The building
includes 251 units of mixed income housing for Chinatown. 115 of those
are affordable to low- or moderate- income families.
- A beautiful
landscaped park and play scape add sorely needed open and green space to
the neighborhood.
- Called by Mass
Housing “one of the
most complex financing projects in the country”
read
about the Parcel C groundbreaking
back to real-estate
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