Construction has commenced on 52 New Street in North Cambridge, MA by Just A Start. The development will provide 106 rental homes on a previously vacant site. The six-story building will also include 3,500 square feet of commercial space.
The financing for this project includes $41.6 million from MassHousing and $43 million in tax credit equity from state and federal Low Income Housing Tax Credits, among other sources. Callahan, Inc., the construction manager, along with RODE Architects as the designer are expected to complete the project by fall of 2025.
The residential units at this location will consist of 22 one-bedroom apartments, 62 two-bedroom apartments and an additional 22 three-bedroom apartments. Of these units available for rent there are plans to allocate them accordingly:17 units for households earning up to thirty percent of the Area Median Income (AMI), seventy-nine units allocated towards those who earn up to sixty percent AMI; while ten more have been designated towards individuals or families earning eighty percent AMI.“This is Just A Start’s largest-ever construction endeavor,” stated executive director Carl Nagy-Koechlin “and it comes at a crucial time when Cambridge residents need it most.”
