News & Updates

Innovation District Continues to See Investment in Housing

Apr 14, 2011

Project name: 49/51/63 Melcher Street Private investment / Total project cost: $11 million Total square-footage: 219,950 square-feet Number of Jobs: 950 Permanent jobs 200 construction jobs Total # of housing units: 38 units Innovation units:    27 units Affordable units: 9 (5 artists live work units) The Innovation District will continue to see housing built for Boston’s future workforce as 74 units were approved by the BRA board. The Melcher Street project will be the 2nd rental building built as part of the City’s Innovation District. Located in the heart of the Fort Point Channel this redevelopment create twenty-seven “innovation housing” units at 63 Melcher Street. The innovation housing units are intended for individuals whose income is too high to qualify for formally restricted affordable housing units but who are often priced out of the housing market. The units are a smaller unit type that have a flexible layout and have access to a shared common area. These units will be built along with the 38 market rate and 9 affordable units. This project is a joint development between Archon Group, L.P. and Goldman Properties and is set to begin phase 1 of construction in the fall of 2011.

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