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Partnership Awarded State Funding to Redevelop Needham Seniors Housing
Affordable Housing and Services Collaborative, Inc. (AHSC) and The Peabody Companies have been awarded funding from the state to redevelop the Linden Street Community in Needham. Built in the 1960s and 1970s and currently comprising 76 studio apartments for lower-income seniors, the Linden Street Community will be completely renovated in two phases to provide larger living spaces, complete accessibility and updated amenities.
Linden Terrace, as the proposed updated community is known, is being developed by a partnership comprised of the Needham Housing Authority, Affordable Housing and Services Collaborative, and Peabody Properties. “We are grateful for the initiative and forward-thinking of the Needham Housing Authority, to work to improve and sustain affordable housing options for their residents,” added Betsy Collins, VP of development for The Peabody Companies.
The award was part of a broader announcement by the Healey/Driscoll administration, which awarded a total of $278 million to 20 communities throughout the Commonwealth, and marked the largest single round awarded in the state in more than a decade.
- ◦Development
- ◦Financing
