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