The Parcel 24 project will create 362 units of new housing and restore the urban fabric and vibrancy of the Hudson Street neighborhood that existed nearly half a century ago.Governor Patrick, Mayor Menino, partners, and community members were present at the funding announcement on October 17, 2011. Parcel 24 is a joint venture between ACDC and New Boston Fund, a privately owned real estate investment manager and an industry leader in providing real estate investment, development and management services. The design of Parcel 24 responds to the Hudson Street for Chinatown Coalition's vision. Affordable rent and ownership units for low- and moderate-income households account for 40% of all units. Design elements include lushly planted green space, community space, ground floor retail, and underground parking. All of these aspects are incorporated into a neighborhood-sensitive sustainable design.
- A sensitive, sustainable design that responds to the surrounding context and restores Hudson Street to a vibrant residential community.
- Creation of 362 units of much-needed community housing, including 95 affordable rental units, 50 affordable condominiums and 217 market-rate rental opportunities.
- “Smart growth” development that provides connection to public transportation, neighborhood serving retail, community space, open space and a terraced park between Hudson and Albany Streets to enhance the civic space of Chinatown.
- Economic development in the form of construction and permanent jobs; and ACDC, a community-based organization serving the needs and interests of Chinatown, will hold a long-term interest in the property and manage the affordable rental units.