The Community Economic Development Assistance Corporation (CEDAC) recently approved a $200,000 loan to the Mission Hill Neighborhood Housing Services (MHNHS) for its transit-oriented project at Parcel 25, according to a press release.
“Well-located community development projects make it easier for residents to commute to work and get around the city, which helps them to improve their quality of life and improve access to education, employment and other opportunities,” said CEDAC’s executive director Roger Herzog, according to the press release.
CEDAC is a private-public community development finance institution.
MHNHS plans a mixed-use redevelopment for Parcel 25, which is bordered by Tremont, Gurney and Station streets, across from the Roxbury Crossing MBTA Station. The former T-owned property is now vacant.
The 305,750-square-foot project will be done in three phases, and once completed, include 88 housing units, 10,000 square feet of retail space, 196,500 square feet of office space and 1,250 square feet of community space. The project will also have 201 surface and below-ground parking spaces.
Phase 1 of the project will have 40 units of affordable housing, four retail stores, community space and office and training space for two non-profits serving youth and families.
Parcel 25 is being developed along with Parcel 29, which is located across Gurney Street and will be the site of a senior home. Parcels 25 and 29 have been vacant since the 1960s, when the government proposed to extend I-95 through the area and began buying up and demolishing houses before community organizers halted the expansion.