Spencer Row
Spencer Row, completed in December 2010, provides 32 new construction affordable family apartments in Chelsea, MA.
Spencer Row provides a neighborhood quality to the street edge, with ground floor units opening directly to the street, and balconies providing private outdoor space. A modern design ties the development to the area’s emerging character, while responding to the scale of the neighborhood. The building has a gross floor area of 35,732 square feet, with a parking garage below, and three stories of housing above. An elevator enhances accessibility, and a community room supports resident interaction and provision of resident services. Design, construction methods, and materials all include sustainable and “green” elements.
Spencer Row is part of CND’s efforts to create strong, mixed-income neighborhoods throughout Chelsea. Spencer Row redeveloped the site of a vacant manufacturing building, and the property now provides families with access to amenities in one of Chelsea’s up-and-coming areas, the Spencer Corridor. The site is one block from the Mary Burke Complex, with four elementary schools, athletic fields, and playgrounds. The neighborhood has benefited from significant housing investment, including: Keen Lofts (23 mixed income condos); Spencer Lofts (100 market rate condos); CND’s Spencer Green development (48 affordable family apartments); and the high profile green community, Forbes Park, a short distance to the east. Additionally, the parcel abutting Spencer Row, “Webster Block,” is currently under construction for 120 market-rate rental units. Adjacent well-maintained single and two-family homes and a church contribute to making this an ideal family neighborhood. The creation of additional affordable family housing opportunities in this neighborhood furthers CND’s goal of connecting low-income residents with local amenities and creating affordable housing choices in mixed-income neighborhoods throughout the City.
Construction began December 2009, and was completed in December 2010.
For information about renting at Spencer Row please click here.
Unit Configuration
The 32 units comprise a mix of 7 one-bedroom, 18 two-bedroom, and 7 three-bedroom units. Four (4) units are rented to households earning up to 30% AMI, an additional four (4) units serve households up to 50% AMI through the inclusion of Project Based Vouchers, and the remaining units serve households up to 60% AMI.
Sources of Funds
Equity : Bank of America
Subordinate Debt: North Suburban Consortium, DHCD HOME, City of Chelsea, MassHousing Affordable Housing Trust Fund, CEDAC Community Based Housing.
Permanent Financing: Mass Housing Partnership
Additional Funds: Chelsea Neighborhood Developers, NeighborWorks America
Construction Loan: Bank of America
Pre-Development and Acquisition Loan Financing: CEDAC
Total Project Cost: $10,182,965
Development Team
| Developer |
Chelsea Neighborhood Developers |
| Architect |
Icon Architecture, Inc |
| Contractor |
Northeast Interiors, Inc |
| Engineer |
Nitsch Engineering |
| Engineer |
McPhail Associates, Inc |
| Consultant |
Peter Munkenbeck |
| Consultant |
David Koven |
| Property Manager |
WinnResidential |
| Attorney (Real Estate) |
Bartlett Hackett Feinberg PC |
| Attorney (Tax) |
Edwards, Angell, Palmer & Dodge |
