City
officials and stories Boston residential developer Harold Brown and his
company, Hamilton, gathered on Monday morning to celebrate a groundbreaking for
44 units of housing that will complete Douglass Park on Camden Street and
provide more affordable housing than required.
The new,
$17. 9 million, 44-unit apartment building at 150 Camden Street in the South
End’s Lower Roxbury, completing the multi-building development known as
Douglass Park. Originally slated for nine townhouse condos, the site was looked
at differently when Hamilton purchased the Park in 2013 for $52 million.
After
working with neighbors and the Boston Planning and Development Agency (BPDA),
Hamilton President Carl Valeri reported on Monday that the 44-unit building
will be delivered with 18 percent affordable housing, some 5 percent above the
13 percent required. The entire complex at Douglass Park, he said, stands at a
total of 24 percent affordable units.
“You guys
are breaking the mold,” said Councilor Tito Jackson. “When developers say they
can’t make the books work, we will point to what you have done here. This is
something we will want to replicate in Boston and we will continue to point to
this. You were only required to have 13 percent and you added 5 percent and
ended up with 18 percent affordable housing in this building.”
On hand for
the groundbreaking ceremony were Brian Golden, director of the Boston Planning
and Development Agency (BPDA); Jackson; Joshua McFadden of the mayor’s office;
and principals of The Hamilton Company, including Founder and Chairman Harold
Brown.
“The BPDA is
enthusiastic about the opportunities this development will bring to the
residents and stakeholders in the South End neighborhood and to the entire city
of Boston,” said Golden.
Golden noted
that 60,000 more residents will flood into Boston over the next decade,
bringing the total to over 700,000 and prompting the need for additional,
market-rate, middle-income and working class housing. “This project is another example
of The Hamilton Company’s commitment to provide quality housing for a growing
city,” said Golden. “It’s a modest addition, but a whole lot of work went into
this.”
The new
49,305-square-foot building, which is being built on the last remaining parcel
in the development known as Douglass Park, faces out onto Tremont Street near
Massachusetts Avenue and just south of athletic fields being developed by
Northeastern University. The new residences will include one-, two-, and
three-bedroom units, parking in an adjacent, existing parking garage and
extensive, new landscaping. Units in the 5-story building will average 900
square feet and range from 700 square feet for one-bedroom to 1,200-square feet
for three-bedrooms. Construction of the building is expected to be completed in
late summer of 2017.
Interestingly
enough, construction crews found an interesting structure when first digging
the foundation. At the moment, those crews are busy removing the foundation of
an old railroad roundhouse from the old Boston Elevated Railway. The site had
apparently been used as a turnaround location for streetcars at one point in
the past.
Founded in
1954 by real estate icon Harold Brown, The Hamilton Company has amassed more
than $1.7 billion in residential and commercial assets in the Greater Boston
area. Harold Brown, who frequently gives lectures on real estate trends and
investment, is also founder of The Hamilton Company Charitable Foundation, of
which Ronald Brown is chairman and Jameson Brown is a Board member. The
Foundation allocates millions of dollars to local non-profit neighborhood
groups, charities and associations annually.