Parcel 24

The Parcel 24 project will create 345 units of new housing and restore the urban fabric and vibrancy of the Hudson Street neighborhood that existed nearly half a century ago.

Parcel 24 Funding Announcement by Governor Deval Patrick and Mayor Menino - October 17, 2011 event photos  [1]

Parcel 24 is a joint-venture between the Asian Community Development Corporation – a 24-year-old non-profit, community-based organization that serves the Asian American community of Greater Boston and the neighborhoods in which they live and work, with an emphasis on preserving and revitalizing Chinatown -- and New Boston Fund, Inc., a privately owned real estate investment manager and an industry leader in providing real estate investment, development and management services.

The Parcel 24 Plan responds to the Hudson Street for Chinatown coalition's Vision by including more than 40% of all units affordable for rent and ownership rental to low- and moderate-income households, lushly planted green space, community space, ground floor retail, and underground parking, incorporated into a neighborhood-sensitive sustainable design.

Community Benefits

• A sensitive, sustainable design that responds to the surrounding context and restores Hudson Street to a vibrant residential community;
• Creation of approximately 345 units of much-needed community housing, including approximately 95 affordable rental units, approximately 50 affordable condominiums and 200 market-rate rental opportunities.
• “Smart growth” development that provides connection to public transportation, neighborhood serving retail, community space, open space and a terraced park between Hudson and Albany Streets to enhance the civic space of Chinatown;
• Economic development in the form of construction and permanent jobs; and ACDC, a community-based organization serving the needs and interests of Chinatown, will hold a long-term interest in the property and manage the affordable rental units.