Real Estate

Affordable Housing Development “The Beverly” Unseals Its Doors

The official opening of “The Beverly” brought out a crowd on Tuesday to the new housing development in the Bulfinch Triangle near North Station. The project is unique because its 239 units are all considered affordable or workforce priced. 

Massachusetts Governor Charlie Baker and Boston Mayor Marty Walsh, along with Related Beal’s President Kimberly Stamler, attended the ceremony in the building’s lobby.

Mayor Walsh celebrated the convenience of the location, saying “The Beverly meets an unmet need for affordable housing in Boston that will allow residents to stay in their neighborhoods.”

After three years of construction, The Beverly has residents moving in to the completed portions of the structure. Of the 239 units, the mix includes studio, one-bedroom, two-bedroom, and much needed family-sized three-bedroom units. Via lottery, workforce units were made available to households with annual incomes between $64,650-$198,000, with rents starting at $1,940 per month. The low-income units were awarded to households with annual incomes of $17,578-$60,000, with rents starting at $492 per month.

The official ribbon cutting opens the 14-story building featuring pet-friendly apartments with views of the surrounding cityscape and the waterfront. The building was designed to reach a LEED Silver designation, includes top floor amenities such as a fitness center, entertainment room, children’s room and outdoor terrace and grill. Bike storage and on-site parking are also available.

Ceremony attendees were impressed with the building. Overheard were comments such as, “These people [who were selected through the application process to reside in the building] hit the jackpot.” We can’t say she’s wrong.

3 Replies to “Affordable Housing Development “The Beverly” Unseals Its Doors

  1. From what I understand You would make too much for the low income and too little for the “affordable”. $60000 for low income has to be for a family since I think the top income for a single person in low income housing is less than $45000. You are out of luck just like thousands of others who are in that income bracket.

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