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Chinatown Physical: Physical Development Prospectus Opportunities The low turnover of property has resulted in maintaining a percentage of land in the ownership of community members. The absolute scarcity of land and high institutional ownership has, until now, prevented any "mega-developments" in Chinatown. The proximity of the Leather District and the South End has acted as a sink for high-end developers, drawing them away from Chinatown. Now, the opportunities lie in the community's ability to leverage these constraints into community control of a most critical resource, its land. As a proven community-based developer, ACDC is best positioned to capture these opportunities. New development sites, resulting from the depression of the Central Artery and the Massachusetts Turnpike, represent an opportunity to relieve Chinatown's internal pressures and assist in the community's economic, housing, and cultural development. The opportunity to develop the air rights is a difficult challenge due to the cost and sophistication of such projects. As a leader of community participation efforts and a developer, ACDC must play an informed and active role in the initiation and implementation of future projects in order to take advantage of the potential these parcels offer. For the community to stabilize its current resources and capitalize on current opportunities, it will be necessary to competitively assert claims on the development parcels over and around the depressed roadways. Assets Chinatown is situated at the intersection of the two major highways that traverse New England: I-93 and I-90. Every point in Chinatown is located within a five minute walk to one of the three, and soon to be four, MBTA transit lines - the Red, the Orange, the Green, and the Silver Lines. Numerous bus lines also serve Chinatown. Regional and national transit is easily accessed at the South Station Commuter Rail terminal, Bus Station terminal, Amtrak terminal, and through the new Ted Williams Tunnel to Logan Airport. Chinatown is close to the major centers of employment and entertainment in the City: the downtown, financial, and Midtown Cultural districts and the Back Bay, South End, and Waterfront/Fort Point/South Boston neighborhoods. Challenges Chinatown is swimming in the waters of a booming real estate market. Because of the interrelationship between the soaring economy and the value of land, the access to financing and the lack of developable land, Chinatown struggles to swim in the "rising waters" but is, instead, at risk of drowning. ACDC, as a planning, development, and community-based agency, is working to tap into the benefits of the market for the Chinatown community.
The general trend towards replacing building-specific subsidies with individual housing certificates ("mobile" Section 8 vouchers) is projected to impact the continued affordability of Chinatown's housing. These "mobile" vouchers are limited in number and allow the individual to select from a variety of housing locations. Some owners are projecting a 20% conversion of affordable units to market rate units as individuals who are given "mobile" Section 8 vouchers move out of existing affordable units. This could result in the loss of over 200 affordable units in Chinatown. Approximately 1,200 apartment units abut the Turnpike air rights along Herald Boulevard and Marginal Road. These include 1,000 affordable units and 200 moderate and market rate units. The affordable units have had close to no vacancy for the past ten years and the longest waiting list, an estimated 15 years, is maintained at Tai Tung Village. Despite this demand, less than 300 new apartments have been added to the housing stock, in and around Chinatown, during the last 20 years. Rationale
for Supporting Community-Driven Development in Chinatown Within Chinatown, the significant cultural presence of its Asian population, its high density, and proximity to other neighborhoods of very different character create a vibrant diversity. A multitude of cultural, religious, economic, familial, professional, and informal associations create a neighborhood defined by its people and a regional community that calls Chinatown "home." One of the best elementary schools in the City, the Quincy School, is located in Chinatown. Involving Chinatown's residents, business community, real estate investors, and non-profit organizations will strengthen development planning in many respects. Chinatown is a special place because it is a neighborhood whose community expands beyond the physical boundaries of its geographic location; the Chinatown community is defined by the relationships individuals have with the physical neighborhood. Therefore, as the community defines the true boundaries of the neighborhood, the neighborhood also shapes the community and its members.
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Washington Street, Suite 102 | Boston, MA 02111-1426 | 617-482-2380 t
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