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ACDC 6 Fort Street Project Receives Tax Credit Award from DHCD
The Asian Community Development Corporation, a Boston Chinatown-based CDC non-profit, is expanding their development portfolio to Quincy, MA. ACDC is known in Chinatown as the community developers for the mixed-use buildings Metropolitan at 1 Nassau St. and Oak Terrace at 888 Washington Street. As growth in Chinatown is limited by the parcels available for development, ACDC has been actively looking at projects outside of Chinatown. The project at 6 Fort Street reflects an ongoing trend of Chinatown-based businesses and agencies expanding into Quincy to serve the growing Chinese and Asian American population. Examples of this trend include the China Pearl Restaurant on Quincy Avenue and the South Cove Community Health Center on Hancock Street
The Massachusetts Department of Housing and Community Development (DHCD) recently announced it will be providing funding for 6 Fort Street, Quincy, MA as part of a $153.9 million effort aimed at building and preserving affordable rental housing statewide. The awards to Asian Community Development Corporation include $2,048,502 in DHCD subsidies, $765,000 in federal tax credits, and $554,000 in state tax credits.
Six Fort Street is an approximately 34-family rental residential development in Quincy, MA. The project will represent the adaptive re-use of a partially historic building in a transit-oriented, Downtown Quincy Center location. The program responds to the new Quincy Center Zoning District’s Design Guidelines, while remaining sensitive to the surrounding, smaller-scale commercial and residential neighborhood.
Community Benefits
• Restoration of a predominantly vacant and neglected
building into a vibrant residential community
• Creation of 34 new smart growth, transit-oriented rental opportunities located near schools, retails services, and public ransportation
• Activation of Fort Street with ground floor community/
commercial space
• Enhancement of the pedestrian environment along Fort
Street through improved design of street-level facade
• Careful rehabilitation of an existing structure with a
sustainable, green design
• Long-term investment in the local community through ACDC’s continued ownership and community focused
management of the property
• Consistent source of property tax revenue for the City of
Quincy
http://www.asiancdc.org/content/6-fort-street-quincy-ma