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Work starts on a downtown complex with all below-market rents

New Developments News Boston Downtown
Rendering of a proposed 239-unit apartment building and hotel in the Bulfinch Triangle.
Rendering of a proposed 239-unit apartment building and hotel in the Bulfinch Triangle. CBT

An all-affordable apartment building with 239 units near North Station is not something you hear about every day.

Developer Related Beal is starting construction this week on the building at Beverly and Causeway streets in the Bulfinch Triangle where all units will be affordable for low- and middle- income renters, The Boston Globe reports.

Rendering of a proposed 239-unit apartment building and hotel in the Bulfinch Triangle. —CBT

The Globe notes that this is a very financially complicated project, but “offers a template for other developers to meet the city’s goal of building more housing that middle-income residents can afford.’’

The Globe explains:

“About half the units are aimed at renters earning mid-range incomes — up to $78,800 for a two-person household — with the rest set at rents for lower incomes. And 24 of them, one in 10, will be three-bedrooms, a higher share than in most new rental buildings in the city.’’

Read the full Boston Globe story here.

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