Eddy Street

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Affordable Housing
54 Eddy Street
Newtonville, MA 02465

Goals

Create 2 units of permanently affordable rental housing, one for households at up to 50% of the area median income and one for households up to 80% in a two-family house with a total of 5 bedrooms, built in 1914.

Funding

$243,572	CPA funds (community housing) $11,428 of the original $255,500 CPA grant was returned unspent upon completion.
$690,250	CDBG funds
$120,000	Long-term bank mortgage
$50,000	Foundation grant
$1,103,822	Total Project Cost

Contact

Jennifer Van Campen, Executive Director
Citizens for Affordable Housing Development in Newton Organization (CAN-DO)
79-B Chapel Street
Nonantum, MA 02458
jvc@metrowestcd.org
617-923-3505

Proposal Review & Appropriations

13 June 2012 - Pre-proposal, including preliminary budget
14 June 2012 - Online realtor photos (received 30 August 2012. previous versions rec'd June-July 2012, then updated; this long file may load slowly.)
30 August 2012 - Full proposal (revised from June & July 2012 versions), including development and operating budgets (this long file may load slowly), including:
- Home inspection report (11 June 2012)
- Appraisal for bank (23 July 2012)
- Acquisition/site control documents: deed, mortgage & assignment of rents (31 July 2012) This long document may load slowly,
24 August 2012 - Letter from Newton Housing Partnership to Planning & Development Board, re: request for CDBG and CPA funds
September-October 2012 - Additional information:
- Independent appraisal commissioned by CPC 13 September 2012)
- Site photos taken by City of Newton Housing staff (18 September 2012) (This large file may load slowly.)
- Updated project scope of work & cost estimates (19 September 2012)
- Other funding sources being explored (letter from developer, 19 September 2012)
- Current financial statements for CAN-DO and its past completed projects, submitted for review by the Planning & Development Board
- Memo from City of Newton Housing staff to Newton Planning & Development Board & Community Preservation Committee (this 26 October 2012 version replaces the 2 August 2012 version addressed to the Newton Housing Partnership)
5 & 14 November 2012 - Presentation in support of proposal, to Newton Planning & Development Board & Community Preservation Committee
- Architect's photos, in support of development budget/scope of work (this very large file may load slowly)
- Petition (citizen signatures) supporting the project, as submitted by proposal sponsor
27 November 2012 - CPC funding recommendation
17 December 2012 - Board order (appropriation)

Project News

25 March 2013 - CPA funding agreement, including affordable housing covenant/ restriction as recorded at Registry of Deeds
20 March 2013 - Mortgage securing CDBG funds
15 May 2013 - Construction contract
17 July 2013 - Building permit
6 August 2013 - Affirmative marketing plan
April-May 2014 - Final project report (including photos)