Spencer Green

CND's most recent housing development is composed of 48 new affordable apartments on the site of the former Chelsea Armory, with 8 units priced for extremely low-income households. Fresh modern design encourages resident engagement and connection to the community. Green and environmentally sustainable building practices are employed throughout.

Spencer Green is supporting Chelsea's economy- we estimate its construction created 74 jobs and that its residents will spend a minimum of $5.7 million locally over the next 10 years.

Environmentally sustainable features include:

• Photovoltaic panels generate electricity
• An underground cistern recycles rain for irrigation
• Energy efficient systems throughout, including a state-of-art elevator that consumes 40% less energy
• A super-insulated white roof keeps each building cool in summer and warm in winter
• Extensive use of recycled and sustainable construction materials including hardwood flooring in the community room that is on its third life, reclaimed first from Boston University, then from the Armory's old basketball court
• Healthy homes standards include no carpets, and paints and adhesives that are low in volatile organic compounds.

 

Developer/Sponsor	Chelsea Neighborhood Developers
Date Completed	2009
Total Development Cost	$15.2 million
Development Type	New construction
Number of Units	48 rental apartments
Affordability	8 units for < 30% AMI; 40 units 50% to 80% AMI
Development Consultants	Peter Munkenbeck
	David Koven

Owner	Chelsea ND
Architect	Utile Architects
Contractor	NorthEast Interiors, Inc.
Property Manager	Cornu Management Group
Investor/Limited Partner	Bank of America
First Mortgage	Mass Housing
Lenders	DHCD: Low Income Housing Tax Credits
	DHCD HOME Funds
	Mass Housing Priority Development Funds
	Massachusetts Housing Trust Fund
	North Suburban Consortium HOME Funds
Equity Investment	NeighborWorks America
	LISC/Home Depot Green
Construction Loan	Bank of America