News: Construction Design & Engineering

Lee Kennedy Co. breaks ground on $16 million Hearth at Olmsted Green

On June 9, Lee Kennedy Co., Inc. joined the board of directors of Hearth, Inc., The Architectural Team, undersecretary Tina Brooks, cabinet chief of housing and director of the Department of Neighborhood Development Evelyn Friedman, and other officials to celebrate the commencement of construction of the $16 million housing complex, Hearth at Olmsted Green. One hundred percent of the 59 units will be available to extremely low income seniors who are homeless or at risk of becoming homeless. Resident services, including nutritious meals, recreation, counseling and case management services. Hearth at Olmsted Green is situated within the larger Olmsted Green project, developed by New Boston and Lena Park Community Development Corp., and located on the former Boston State Hospital site adjacent to Franklin Park. For three decades the development of this site has been overseen by a community advisory council of concerned community residents. Olmsted Green will be a mixed income community complete with housing, recreational facilities, services, and economic development opportunities. "DHCD is proud to support housing development projects that provide affordable, supportive housing for seniors," said Brooks. "It's important that we continue to invest in these projects that create important jobs for local workers as well as provide supportive housing for vulnerable residents." "For 20 years, Hearth has been my partner, and the region's leader in the fight to eliminate elder homelessness " said mayor Thomas Menino. "Hearth at Olmsted Green will stand as the best example of affordable, supportive, and permanent housing for formerly homeless and at-risk seniors." Providing housing with the necessary supportive services that assist residents to age with dignity, regardless of their special medical, mental health or social needs, is the heart of Hearth's mission. With these new units, Hearth will operate 196 units of supportive housing in eight locations throughout the Boston area. In addition, each year Heart 's Outreach Program, which was has been recognized as a 2009 Social Innovator by the Cambridge based Social Innovation Forum, works with over 300 elders in need of housing. "We are grateful for the support of the City of Boston, the Commonwealth of Massachusetts, our investors and our philanthropic funders, for making this possible," said Mark Hinderlie, president and CEO of Hearth, Inc. Shown (from left) are: Richard Martin of The Fallon Company; Jeff Sacks of Nixon Peabody LLP; Elliot Steinberg of Haley & Aldrich; Mark Hinderlie of Hearth, Inc.; Lee Michael Kennedy of Lee Kennedy; Peter Roche of Development Synergies LLC; and Anthony Vivirito of The Architectural Team.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary