Orchard Gardens consists of the development of 331 units of rental housing on 15 acres of land in the Roxbury neighborhood of Boston. Completed in three phases, the development includes a new park, six new streets, and new offices for the resident association and on-site property management team. The team included Trinity, a local community development corporation and a local resident association.
Selected in May 1996, Trinity Financial and company achieved two closings for a total of $57.67 million of financing, including $27.3 million of private equity. With these closings, nine buildings containing 126 rehabilitated housing units were acquired; 162 new townhouses were constructed; and the former Dearborn school building was converted into 42 units of housing using historic tax credits. In December 1999, all 331 units were completed and occupied. Housing units are affordable to households in six different income categories.
Total development cost: $58 million
Awards: “Community Building By Design Award,” HUD and the AIA Center for livable communities “Builders Choice Design and Planning Award” National Association of HomeBuilders