ONE GREENWAY (Parcel 24)

Boston, MA

Mixed Use Residential Development

PROPERTY DESCRIPTION

PROPERTY TYPE: 414,710 SF Mixed Use Residential Development on a 65,000 SF infill, urban site featuring:

  • 362 residential units
    • 217 market-rate rental units
    • 95 affordable rental units
    • 50 affordable condominiums/homeownership units in the South Building
  • 40% affordable overall
  • 3,355 SF ground-floor commercial space
  • 5,050 SF interior community space
  • 13,275 SF central open space that provides new pedestrian connection between Hudson and Kneeland streets
  • 135 underground parking garage with 50 public spaces
  • Landscaped sidewalks

 

OPPORTUNITY

  • Before it was taken for highway construction in 1962, Parcel 24 was a diverse and vibrant residential community that was home to a wide array of ethnic groups and immigrants, including Chinese and Syrian families, as well as local shops and services in Boston's Chinatown neighborhood.
  • One Greenway will provide much needed housing while restoring the fabric of the neighborhood which existed on Chinatown’s Hudson Street more than 45 years ago.
  • The project is a joint venture between the Asian Community Development Corporation (ACDC) – a non-profit organization that serves the Asian American community of Greater Boston with an emphasis on preserving and revitalizing Chinatown – and New Boston Fund.
  • The project will also create approximately 700 construction jobs and up to 40 permanent jobs in retail, community organizations and property management.

HIGHLIGHTS

  • In 2000, the Asian Community Development Corporation (ACDC) led a comprehensive neighborhood effort to have the site returned to the community. New Boston and ACDC formed Parcel 24, LLC, and won the designation from the Massachusetts Turnpike Authority (MTA) in April 2006.
  • One Greenway is a major milestone in ACDC’s mission to improve the quality of life for Asian Americans and the communities in which they live. This development will restore both sides of Hudson Street to active community use.
  • The environmentally friendly, Smart Growth development will be LEED silver certifiable, reducing its impact on the environment as well as helping the long-term affordability for residents by using Energy Star appliances, highly durable materials and efficient utility systems.
  • One Greenway will be one of few mixed-income developments built on the infrastructure of the new $15 billion I-90/I-93 Central Artery project in Boston.
  • One Greenway broke ground in fall 2013 on the 312 unit North Building with a projected completion date of summer 2015.
  • Please visit the website for the market rate apartments at www.onegreenwayboston.com