The Boston Housing Authority said today it's chosen Corcoran Jennison of Dorchester to completely rebuild and expand the Bunker Hill development into a mixed-income community.
Corcoran Jennison, which will work with SunCal, a California developer, will tear down the development's current 1,100 apartments and replace them with up to 2,400 new apartments - 1,100 subsidized units for residents who meet BHA income requirements and the rest rented at market rates.
Under the contract, the subsidized units have to be built to the same standards as the market-rate units. Demolition will be done in phases; current residents will be offered units in other BHA developments or Section 8 certificates.
In a statement, the BHA said:
The goal of the project is to offer residents a more livable, healthier, and more sustainable community within a truly mixed-income Charlestown neighborhood that responds to the needs and aspirations of all its residents. ...
The BHA has focused on the Charlestown site in particular due to current market conditions and the potential opportunity for the preservation or replacement of all of the existing 1,100 low-income units in the development with little or no public subsidy. The potential for adding additional units to create a mixed-income development would add both affordable workforce and market rate apartments, which BHA hopes would generate additional income to help sustain the low-income units over the long term.
Corcoran Jennison is headquartered next to Columbia Point, which underwent a similar reconstruction from the old Harbor Point project.