**City of Boston and Related Beal Partner to Acquire Mattapan Apartments**
The City of Boston has allocated $10 million from the American Rescue Plan Act to support the acquisition of The Fairlawn Estates in Mattapan, converting all 347 units from market-rate housing to permanently affordable homes for both current and future residents. This acquisition was completed in partnership with Related Affordable, an affiliate of Related Beal.
According to Mayor Michelle Wu’s office, the city’s investment leveraged nine times that amount in private funding. Additionally, the newly established Boston Acquisition Fund contributed nearly $1 million, which allowed Related to secure the property and immediately begin necessary improvements.
The Fairlawn Estates consists of 12 apartment buildings located on Fairlawn Avenue, Cummins Highway, and Bismarck Street in Mattapan. Originally developed in the 1960s by the Flatley Companies, the property was known for its affordability. However, since a $65-million sale in 2018, it had transitioned to market-rate rents.
Through this partnership, the City of Boston and Related Beal aim to restore long-term affordability, ensuring stable housing options for residents in the Mattapan community.
