539-551 Centre Street

The Jamaica Plain Company, represented by Paul B. Clayton, proposes renovation of the existing multi-family residential Forbes Building in Jamaica Plain, constructed in 1978 on a 1.59-acre lot, with approximately 125,000 gsf of floor area, and which includes 147 multi-family units (130 one-bedroom and 17 two-bedrooms), 4,500 gsf of commercial space, and outdoor surface parking for 32 vehicles. The proposed affordability percentage in the Forbes Building is expected to be 97% (143 of 147 units). The new income averaging allows for LIHTC units to be up to 80% AMI as long as the average income of the tenants is at 60% AMI or lower. Most of the 143 LIHTC units will be at 60% AMI, with approximately 20 units up to 80% AMI. The Proponent is working with EOHLC to formulate a plan to add MRVP certificates over time that would allow the Forbes Building to serve lower-income tenants.