MATTAPAN, MASS. — Related Beal has purchased Fairlawn Estates at the T, a 347-unit apartment community in Mattapan, located just south of downtown Boston, with plans to convert the property into affordable housing. Related Beal has entered into an agreement with the City of Boston to add a perpetual affordable deed restriction to the property, which was formerly known as SoMa at the T, that will restrict all units to households earning between 60 and 80 percent of the area median income. The agreement allows all current residents to remain in their homes. Related Beal also plans to invest about $6.4 million in capital improvements to the property, which consists of 12 buildings that were originally constructed in the 1960s and house studio, one- and two-bedroom units. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, The DSF Group, in the transaction.
Fairlawn Estates at the T, a 347-unit apartment community in the southern Boston suburb of Mattapan, was formerly known as SoMa at the T. The property was originally built in the 1960s and is named in part for its proximity to Boston's public transit system.
Related Beal Buys 347-Unit Apartment Community in Metro Boston, Plans Affordable Conversion
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