Project review committee members Brian Keefe and Rodney Singleton during Monday’s meeting. PHOTO: TREA LAVERY
Madison Park Development Corporation was the sole bidder for the site, a parcel at the corner of Dudley Street and Shawmut Avenue. The Dudley Square-based CDC plans to combine this site with the adjacent parcel at 2451 Washington St. — which the organization is also redeveloping — creating a total of 33 units, with 24 affordable to low and moderate income and nine unrestricted at market rates.
The proposed one-to-three-bedroom condominiums at 75-81 Dudley St. will include nine available to households earning up to 80 percent of AMI, with prices ranging from $182,000 to $250,900. Eight will be priced for 100 percent AMI, from $243,000 to $320,100 per unit. But Madison Park representatives said that with $35,000 of down payment assistance from the city, units could become affordable to those earning only 60 percent AMI, or between $45,000 and $63,000 a year.
The new four-story development will include 12 covered, off-street parking spaces, 744 square feet of commercial space that Madison Park will retain ownership of, and community space.
Madison Park plans to team up with the minority-owned design and architectural firm DREAM Collaborative LLC, the firm currently working on the 2451 Washington St. project. Alicia Toney, from the minority-owned company Toney & Associates, who has been overseeing the development of the adjacent lot, will become the owner’s construction representative for 75-81 Dudley St., according to the proposal. Madison Park will look for minority or women-owned businesses to provide other project services, including engineering and real estate management.
Read the entire article as it originally appeared in The Bay State Banner here.