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Firm gets $8.5 federal stimulus award to build affordable housing in WarehamText Size: A | A | A
Print this Article Email this Article ShareThisMarch 04, 2010 3:20 PM
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New Bedford's Parker Elementary School among state's worst performingContractor charged with falsifying building permitsRobert J. Bourque Sr.Death noticesFAA tells Dartmouth to lower height of south turbine by 5 feetThomas SearsFreetown, Lakeville have plan to trim class sizes WAREHAM — JKS Village LLC, of East Falmouth said this week it has received an $8.5 million federal stimulus grant to build The Village at 815 Main St. in Wareham. The development will consist of 49 newly constructed affordable housing units including eight townhome buildings and one three-story mid-rise apartment building.

An existing building on the 10-acre site will be relocated and renovated and utilized as a community building for the development. The grounds will be landscaped and furnished with a playground, picnic tables and other amenities. In addition to preserving open space, the project will include other green features such energy conservation systems for heat and air conditioning, rain gardens and native plantings.

The Village at 815 Main St will include one, two and three bedroom townhouses and apartments on an eight-acre site. All units will be affordable to individuals or families whose income is 60 percent or less than the area's median income. The development is situated close to Routes 195/495 and Route 25.

The Village at 815 Main Street was designed by Civitects Architects and Planners of Wareham and will be built by general contractor J.K. Scanlan Company, Inc. of Falmouth, MA.

The Village at 815 Main Street is the first Massachusetts recipient of Tax Credit Exchange funds to start construction. The Tax Credit Exchange Program is part of the American Recovery and Reinvestment Act of 2009. Tax Credit Exchange funds are awarded on a competitive basis to projects that are "shovel ready" for construction and secure in all other aspects including project financing and permitting. The U.S. Department of the Treasury is providing the funds by allowing states to convert low income housing investment tax credits into grants. The funding is intended to create construction jobs in the short term and provide affordable housing opportunities to families and individuals struggling through these difficult economic times in the long term.

In addition to over $8,500,000 of tax credit exchange funds provided through the Massachusetts Department of Housing and Community Development, , The Village at 815 Main Street also received funding from the Affordable Housing Trust. Construction financing is being provided The Property and Casualty Initiative and Boston Community Capital and permanent financing is being provided by Massachusetts Housing Partnership.

Construction has begun and will be complete by Nov. 30.

For more information about this project, contact Andrew Baker at ABaker@jkscanlan.com or (508) 540-6226.