2015: The Year in Review

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Flats at 22 in Chelsea's Box District. 

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New windows installed at J.M. Lofts in Haverhill, MA.

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Mayor Walsh joined us for a topping off event at Mosaic earlier this year. 

2015 was another great year for us at TC and thanks to all of our partners, friends, and family that helped make it possible. A few of the highlights: 

• Amid the snowstorms of last winter in February, we opened Flats at 22 in Chelsea, and by the time the snow melted, we were fully leased. It represented our last project (for now at least!) in the Box District. As we wrapped up the Silver Line started construction and be completed in late 2016.
• As the snow cleared we also started construction on Mosaic, 145 units of mixed income housing in Boston's Mission Hill neighborhood. We've sold nearly 20% of the market rate condominiums so far, and are ramping up affordable sales and leasing for later this spring. Occupancy is expected for Fall of 2016. 
• We broke ground on the historic J.M. Lofts in Haverhill, transforming a former shoe factory into 18 one and two-bedroom lofts. Construction is moving along nicely and the project due to be open in the Spring of 2016.
• 2015 was a transformative year for Cable Mills. Due to open later this winter, and with pre-leasing going strong, the living spaces that have been created -- with views of the Green River, tall ceilings, massive windows, and exposed brick and beam finishes -- are remarkable. 
• We managed the refinancing of 81 units of affordable housing in Mission Hill owned by the Roxbury Tenants of Harvard, allowing for it's long term preservation, while also allowing for an overdue renovation. 
• We moved our office from Back Bay to Downtown Crossing (50 Summer Street, above the 7 Eleven) in the summer allowing us a bit more room to grow, and we welcomed Andrew Guild and Dan O'Shea to the team this year. 

2014: The Year in Review

Another great year (almost) in the books and we'd like to thank all of our family, friends, and colleagues for making this a tremendously successful year and we look forward to more in 2015! Just a few of the things that made 2014 memorable....

Flats at 22 under construction, due for completion in January 2015

Governor Patrick cuts the Ribbon at the Flats at 44, completed March 2014

The new computer lab at the RTH Community Center

Off-Centre Lofts in Jamaica Plain, completed in September 2014

• We completed the historic rehabilitation Off-Centre Lofts in Jamaica Plain - 21 new studio and one-bedroom lofts fully leased.
• The Flats at 44 opened in March and was fully leased by mid-year representing the first Housing Development Incentive Program project in the Commonwealth. Governor Patrick helped us cut the ribbon.
• Following closely behind we broke ground on 50 apartments at the Flats at 22 and expect to finish this coming month. More than half of the building is pre-leased.
• We broke ground on Cable Mills, the conversion of a beautiful historic mill into 61 loft apartments in Williamstown, MA across from Williams College.
• Completed the 28,000 square foot Roxbury Tenants of Harvard Community Center creating an amazing community space provide new wellness and educational opportunities for the residents it serves.
• We permitted 18 lofts and 4,500 square feet of ground floor retail at the former Surplus Office Supply building as momentum continues to build for what will be a remarkable transformation for downtown Haverhill.
• We accepted a national Urban Land Institute Award along with our Box District partners for our work in Chelsea, and spoke on several panels about workforce housing, modular housing, and reducing costs of development. 
• Dave and Julia welcomed twins to the family! Whit and Ellie Traggorth were born in September.

Flats at 22 Featured in the Boston Herald

As the Flats at 22 in Chelsea nears completion for this January, the Boston Herald stopped in for a visit to highlight the property and the tremendous value that it presents for those looking for market rate housing that doesn't break the bank. You can find the article here.

Atlas Lofts and the Flats at 44 Gerrish are completely full, leaving the Flats at 22 as the last remaining opportunity to live in the Box District. 

Boosting Workforce Housing: Lessons from Gateway Cities

In the December 1 issue of Banker and Tradesman, Dave highlighted Chelsea and Haverhill as two places where workforce housing is getting built and the lessons that successful projects in those cities might mean for the rest of the Commonwealth. To read the article, click here.

Box District Wins National ULI Award

Dave was down in New York City this past week with Ann Houston, Executive Director of The Neighborhood Developers, and Jay Ash, Chelsea's City Manager, at the Urban Land Institute for their Fall Meeting where it was announced that the Box District won the Jack Kemp Excellence in Affordable and Workforce Housing Award which celebrates and promotes the exemplary efforts of real estate and public policy leaders from across the country who are working to expand affordable and workforce housing opportunities.

We are incredibly thankful to all of our partners that helped envision the Box District - Mitchell Properties, the City of Chelsea, and The Neighborhood Developers - for the opportunity to help create this amazing neighborhood. TC provided project management services for Atlas Lofts, the Flats at 44, and the Flats at 22. 

(L to R) Jay Ash (City of Chelsea), Dave Traggorth (Traggorth Companies), Ann Houston (The Neighborhood Developers), Marty Jones (MassDevelopment), and Sarah Barnat (ULI New England)

A video of the finalists in the 2014 ULI Terwilliger Center for Housing awards. Learn more about the program and past winners at http://on.uli.org/1yHObRO

Flats at 22 Construction Continues!

Concrete foundations are going in this week in preparation for an August modular box set! A panoramic from the site visit today in Chelsea. The building will feature 40+ underground parking spaces with 50 apartments above. The site is immediately adjacent to the future Silver Line extension and Box District Station.

Governor Patrick Opens Flats at 44

Last Wednesday morning, Governor Patrick visited the Flats at 44 to cut the ribbon (only four units remain!) and put a shovel in the ground at the Flats at 22 (opening November 2014). The Governor was also joined by Secretary Greg Bialecki, Undersecretary Aaron Gornstein, Senator Sal DiDomenico, Representative Dan Ryan, and Representative RoseLee Vincent. 

During his keynote speech at the event, Governor Patrick spoke about making investments like those made in the Box District as a catalyst for growth in Massachusetts. You can read more about his remarks here. 

In addition, we honored Rufus Phillips, Peter Hollands, and Kristin Blum who all provided key predevelopment and acquisition loans early in the project when it took a lot more vision to see what was possible. 

Both projects expand on the previous successes within the Box District, an award-winning revitalization of a once vacant and blighted industrial area into a vibrant mixed income community. The revitalization was conceived by the City of Chelsea, The Neighborhood Developers, and Mitchell Properties, a highly successful public/non-profit/private partnership formed around this effort. With public and private funding seven new residential properties have been built over the past ten years providing high-quality, safe, and attractive housing for families, young professionals, and retirees. Residents are attracted by the Box District’s proximity to Boston and Cambridge workplaces, transit, and public amenities such as the Box District Park, installed and dedicated in 2013 by the City of Chelsea. In addition, The Flats at 44 is the first building to be completed utilizing the Commonwealth’s Housing Development Incentive Program, a program that provides Gateway Cities like Chelsea with a development tool to increase residential growth, expand diversity of housing stock, support economic development and promote neighborhood stabilization.

Construction for Flats at 44 started in July 2013 and opened to new residents in March 2014. The building offers studios, one-bedrooms, and two-bedroom homes and is over 80% leased. Flats at 22 recently started construction and is anticipated to open in the Fall of 2014. Each apartment comes fully equipped with stainless steel energy efficient appliances, in-home washer/dryer, hardwood flooring, gas cooktop, granite counters, 42” cabinets, 9-foot, and expansive windows. Amenities include a fitness center, a roof deck along and off-street covered parking.  

Box District Living

What makes living in the Box District so appealing? It's really about the value for your money and finding a place that balances a small neighborhood feel with all the conveniences of an urban location. 

For example, in the Box District you can:

• Live 15 minutes away from Haymarket/North End in Downtown Boston with your monthly rent for a brand NEW one-bedroom with 9' ceilings, energy efficient systems, hardwood floors, and a roof deck for around $1,600/month. See www.flatsat44.com or www.atlas-lofts.com for more information about leasing opportunities now available.
• Be on major public transportation lines such as the 111 to Haymarket (click here) which connects you directly to the Orange and Green T Lines, or the 116 to Maverick Station (click here) which connects you directly to the Blue Lines. Oh, and let us not forget the Commuter Rail Stop in Chelsea. It's one stop into North Station along with all the points North. 
• Live steps away from eateries where foodies come from miles away to visit, such as Fusion Foods (read a great recent review here) or the Mystic Brewery (their website is here). For all those everyday needs, there is Home Depot and Market Basket around the corner. 
• Become part of a community that really cares about each other and is absolutely intent on become a better place to live. How about movies in the park across the street with your neighbors or great organizations such as The Neighborhood Developers as your neighbor? That's all happening in the Box District as we speak. 

To give you a better sense of how convenient the Box District is, we've put together the map below and if we've missed anything let us know!   

Standard Box Awarded State Funds

We couldn't be more thrilled to share the news that The Standard Box Apartments, a Mitchell Properties project in Chelsea, MA, was awarded DHCD housing subsidies and low-income housing tax credits this past Thursday. TC staff assembled the application on behalf of Mitchell Properties and will perform project management services through completion of the project. 

Now that the awards are in hand, expect to see rapid developments and updates here and at mitchprop.com as the project moves forward towards a construction start!

For more information about the awards visit DHCD's press release here.