These are exciting times in Boston real estate. The map of Boston is changing and growing daily, making way for more sorely needed housing. Which is good news.
Especially if you're very wealthy; and to an extent, if you make relatively little enough to qualify for affordable housing. But what do you do when you're comfortably sitting in middle class, with a desire to stay in the city? Most residents in the mid-bracket don't see many options.
Unless they look to Trinity Financial, who aims to change all this.
To take the problem of limited housing for everybody on, Trinity has set several targets.
Target A: Dorchester. Near the T station is land that could become a new mixed-income housing complex.
Target B: Peabody Square. Just outside is a parcel that's ripe for reinvention.
Target C: Ashmont. Across the street from the T station at the end of the red line is Ashmont Tire. Trinity wants to dust it off and square its shoulders to face forward as an 81-unit complex. This project is underway with neighborhood meetings scheduled.
Target D: The Curruth, also in Ashmont. These 42 condominium units, near Target A, have already happened. They serve as a proof point for the plan that Trinity aims to replicate with Ashmont. At the time of this article's publication, the property website states that their units are 33% sold.
Trinity has found a way to make the money work for this type of model. Instead of selling market-rate units first, Trinity sells affordable units first to shoulder the construction costs on land that is already considerably cheaper.
According McMorrow's Globe report, the business model is working. If it does, most of Boston's working class will be relieved.
· A housing model that can help middle class [Globe]
· Proposed Ashmont Tire project takes shape [Dorchester Reporter]