Jonathan Hecht
Massachusetts State Representative
For Immediate Release
July 22, 2010
Contact
KOFI JONES, (617) 788-3652
Belmont Street Project to Enter Final Stages of Development
Watertown site to create new affordable housing units and in a series of 50 construction projects supported by the Administration that will break ground and create jobs in 2010
WATERTOWN - Thursday, July 22, 2010 - As part of the Patrick-Murray Administration's historic $4 billion Massachusetts Works program that will put nearly 20,000 people to work across the Commonwealth, Secretary of Housing and Economic Development Greg Bialecki today joined with community leaders to celebrate the final stages of construction on a new affordable housing project in Watertown. This project, made possible with a combination of federal, state and local funding, will create more than 25 construction jobs.
"Our number one priority is putting shovels in the ground and people to work right now," said Governor Patrick. "Through investments like this one, hundreds of projects will break ground this year around the Commonwealth, which means thousands of new jobs."
"This kind of construction project will help put people back to work as we focus on Massachusetts' economic recovery," said Lieutenant Governor Timothy Murray. "We are excited about today's groundbreaking and look forward to seeing this project support economic development, sustainability and growth for the region and the Commonwealth."
This project is an excellent example of the critical collaboration and investment that leads to both immediate and long term construction jobs, as well as quality affordable housing opportunities for Commonwealth residents.
Investments by the Patrick-Murray Administration, Community Economic Development Assistance Corporation (CEDAC) and the Town of Watertown will support the renovation of three buildings to create a total of 18 new affordable housing units at 1060 Belmont Street. Renovations, carried out by Knollmeyer Building Corporation, include the installation of new roofs, windows, doors, kitchens and bathrooms, heating and electrical upgrades, landscaping improvements and creation of three handicapped accessible units, as well as the removal of contaminated soil and underground storage tanks discovered after the project was underway.
"This property was in rough shape when we bought it two years ago," explains Jennifer Van Campen Executive Director of Watertown Community Housing. "And then the housing and tax credit market collapsed putting our renovation plans on hold. We were really nervous that the whole deal might fall apart. But then we were awarded Tax Credit Exchange funds from the Patrick-Murray Administration as part of the American Recovery and Reinvestment Act and we were able to move forward and create these beautiful homes for 18 families."
Created by the Commonwealth as a tool to support community economic development, CEDAC is a public-private, community development finance institution that provides technical assistance, pre-development lending, and consulting services to non-profit organizations involved in a variety of projects. CEDAC's Community Based Housing funds, used to support this development, are awarded to projects that will provide housing to clients of Mass Rehab Commission and people at risk of being institutionalized.
“In times such as these maintaining and expanding affordable housing is particularly important,” said Senator Steven A. Tolman (D-Boston). “This project will increase Watertown’s affordable housing stock and take a long vacant building and turn it into a productive and vibrant part of the community. I applaud the Governor for his willingness to support this project and look forward to its impending opening.”
"The Administration, CEDAC, and Watertown Community Housing are to be applauded for bringing this great project to fruition, " said Representative Jonathan Hecht. "It will help address Watertown's critical need for affordable rental units while creating good jobs and strengthening a neighborhood."
Today's visit marked the beginning of the third and final building's demolition and a tour of the near-complete units in the other two buildings. Construction on the project began in March 2010 and is expected to be completed by this coming September.
This project is one of more than 50 housing and economic development projects, both renovation and new construction, expected to break ground this year, totaling more than $1 billion dollars in development investments in the Commonwealth. Each of these projects have been initiated by an investment from the Patrick-Murray Administration. Together, they will create thousands of jobs throughout Massachusetts.
This investment is just one part of the Administration's multi-pronged strategy for growth through supporting small businesses; regional economic development; and strategic investments in education, infrastructure and innovation. Key to supporting this strategy is partnership with local communities and the private sector that fosters residential and commercial growth, and the successful leveraging of a number of state resources that spur that growth including:
• The Growth Districts Initiative - by working with communities to plan ahead for new growth and development that is consistent with their long-term community vision, regional needs and with the Commonwealth's sustainable development principles, the Administration is creating an entire network of places around the state where new growth is being welcomed and encouraged.
• The Chapter 43D Expedited Permitting - by working with communities to support prompt and predictable permitting for development that is consistent with community plans, dozens of communities have made a commitment to issue permits for commercial development in six months or less in order to helps facilitate targeted economic development that is consistent with their long-term plans.
• The Massachusetts Opportunity Relocation and Expansion (MORE) Jobs Capital program - by targeting public infrastructure investments and improvements needed to support private development activity and business expansion, cities and towns get the tools they need to spur economic development, job retention and expansion.
• The newly reformed Economic Development Incentive Program (EDIP) - by partnering with companies and municipalities focused on job creation, manufacturing job retention and private investment, the Administration is working to stimulate business growth throughout the Commonwealth.
• Through a wide array of state and federal programs administered by the state Department of Housing and Community Development, the Commonwealth can provide direct financial assistance, where appropriate, to residential and commercial development projects through low-cost financing, tax credits and other forms of financial support.
Learn more about the results of our strategic investments in new development here.
Learn more about how the Patrick-Murray Administration's agenda has led Massachusetts out of a global recession faster and stronger than the rest of the nation here.
