Transit-oriented, mixed-income development will serve lower- and middle-income households steps from Boston Landing commuter rail station

Pennrose announced the groundbreaking of 95 Everett Street, an 88-unit, transit-oriented, mixed-income housing development in the Allston-Brighton neighborhood of Boston. When complete, this project will deliver 100% income- and rent-restricted homes to one of the city’s fastest-changing neighborhoods, establishing a critical anchor for affordability and housing stability for lower- and middle-income households.

95 Everett Street will offer a mix of studio, one-, two-, and three-bedroom apartments. Of the total 88 units, 73 are LIHTC-eligible affordable apartments, including 18 units reserved for households earning at or below 30% of the Area Median Income (AMI). The remaining units will serve middle-income households earning up to 50%, 60%, 80%, and 120% of AMI. The building will follow Universal Design principles for inclusivity and be built to Passive House sustainability standards, delivering both long-term energy efficiency and reduced utility costs for residents

“95 Everett Street is an opportunity to bring high-quality, affordable housing to a neighborhood that is experiencing significant housing cost pressure,” said Karmen Cheung, regional vice president at Pennrose. “Allston-Brighton’s transit access, employment opportunities, and community assets make it an ideal location for working families and individuals. We are proud to work with the City of Boston and our project partners to ensure this neighborhood remains a place where people of all incomes can thrive.”

“This is what it looks like when we use every tool we have to deliver for the people of Boston: transforming long-vacant private land into permanently affordable housing,” said Mayor Michelle Wu. “We’re not waiting—Boston is getting shovels in the ground, expanding opportunity, and working for everyone to have a place to call home.”

“This is a great mixed-income, transit-oriented development that will create 88 new homes in a fast-growing neighborhood. Projects like 95 Everett help the state move one step closer to building the new homes we need to bring down costs for all residents,” said Juana Matias, Secretary of Housing and Livable Communities. "The Healey-Driscoll Administration was proud to contribute funding to help make this project possible.”

“MassHousing is excited for the future residents of 95 Everett Street who will have new, affordable apartment homes in this emerging neighborhood with close proximity to public transit,” said MassHousing CEO Chrystal Kornegay.

Residents will enjoy access to robust on-site amenities, including a community "clubhouse”, rooftop terrace, fitness center, and property management suite. Pennrose Management Company plans to partner with local nonprofit organizations to provide supportive services to residents, potentially including ESOL classes, job training initiatives, healthcare referral resources, and more. The ground floor will also feature a 1,400 square-foot retail space designed for local business or cultural use.

Additionally, the new development is ideally situated steps from the MBTA Boston Landing commuter rail station, offering residents direct connections to employment centers, healthcare, educational institutions, and other amenities throughout Greater Boston. The surrounding neighborhood has experienced significant investment in recent years, with the adjacent Boston Landing development now home to major employers including New Balance and Bose, as well as the offices of the Boston Celtics and Boston Bruins.

The project is financed via Federal and Massachusetts Low-Income Housing Tax Credits, purchased by CapitalOne and syndicated by Hudson Housing Capital. CapitalOne also provided a construction loan. MassHousing will serve as the permanent lender and provider of tax-exempt bond financing. Massachusetts’ Executive Office of Housing and Livable Communities provided financing via its Affordable Housing Trust Funds, Housing Stabilization Funds, and Transit-Oriented Development Funds, in addition to federal HOME dollars. The City of Boston has invested funds via the Mayor’s Office of Housing HOME funds, National Housing Trust funds, and the City’s IDP funding program.

Construction is underway and the development is expected to be completed in Summer 2027.

With a regional headquarters in Boston, Pennrose is committed to delivering high-quality, affordable housing across New England – and right here in Eastern Massachusetts. Pennrose is also redeveloping the Blessed Sacrament Church in Boston’s Jamaica Plain, transforming a 1913 historic church into a vibrant mixed-use, mixed-income development.