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GBIO Wins $6 Million from High-Rise Developer for Historic Preservation and Creation of Citywide Affordable Homeownership Fund

At Boston Planning & Development Agency meeting, more than 80 GBIO leaders show support to Boston Properties for making $6 million deal for preservation and affordable housing.

When Boston Properties announced plans for a new $1 billion development, Old South Church and Trinity Church – both members of the Greater Boston Interfaith Organization – opposed the project, citing the Massachusetts Historic Commission’s ruling that new shadows from the high-rise could damage their historic buildings. After leveraging these concerns in negotiations with the developer, the two churches have won $6 million from Boston Properties -- $3 million for the two churches for historic preservation, and another $3 million for a citywide fund for affordable homeownership programs. GBIO plans to keep pushing for more homeownership funding from big developments.

Content Date: 
Tuesday, December 26, 2017 - 10:21