Local activists and city officials gathered in Nubian Square on June 18 to celebrate the topping off of 75 Dudley Street, a new building that will provide 15 affordable condominiums.
“What was once a long-vacant parcel will soon become a vibrant residential community located near transit, businesses, cultural institutions and neighborhood amenities,” said Monica Dean, CEO of Madison Park Development Corporation (shown above).
The topping-off marks the completion of the steel frame for the four-story building. Like most new apartment buildings, 75 Dudley Street will feature steel framing on the first story and wood construction on the upper floors.
The $12 million building will come online at a time when housing construction has slowed in Boston due to rising costs of materials and high interest rates that make it difficult to finance the construction and purchase of homes. The city’s Department of Neighborhood Development stepped in with $5.25 million in funding for the project.
Madison Park put up $1.1 million in funding and received an additional $750,000 from MassDevelopment for environmental remediation.
Eight of the units will be available for households earning up to 80 percent of the area median income, which currently is $117,825 for an individual. Seven will be available for those earning 100 percent of the area median income.
One-bedroom units will sell for $250,688 for those earning 80 percent AMI and $328,236 for those earning 100 percent. The median cost of a one-bedroom condo in Boston is currently $699,000, according to the real estate website Redfin.
“This new development will create safe, stable, and affordable homeownership opportunities in Nubian Square,” said Chief of Housing Sheila Dillon. “Alongside the leadership of partners like Madison Park Development Corporation, we are continuing to transform long-vacant parcels into homes and active neighborhood spaces that follow through on the community vision of PLAN: Nubian Square and that reflect the priorities of Roxbury residents.”
Dillon and other city officials joined Madison Park staff and community residents signing the steel I-beam that capped off the construction of the first floor, before it was hoisted into place.
Dean said the project reaffirms Madison Park’s commitment to providing homes for community members.
“This development is more than a building,” she said. “It is more than 15 homes. It is a statement that affordable homeownership matters. It is a statement that community ownership matters. And it is a statement that Roxbury’s future should include people who have invested their lives, their energy and their dreams in this neighborhood.”
