Neighborhood Stabilization

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Project Description

The Neighborhood Stabilization Initiative (NSI) was enacted to support neighborhoods hardest hit by the housing downturn.  It was jointly developed by various public agencies and allocated resources to non-profit organizations to acquire and renovate distressed properties (vacant, foreclosed or abandoned).  Partnering with The Neighborhood Developers, accomplished non-profit developers of affordable housing, we delivered 29 residential units (11 sold, 18 leased) through 11 projects with a total project cost of $10.8MM.

Location: Chelsea, MA

Client/Partner: The Neighborhood Developers

Timeline: 2010-12