RECENT Developments

Seventh Street

Seventh Street represents a unique opportunity for HRI to further its goals of sustainability and energy conservation. The property was severely damaged by fire in March 2007. HRI will renovate the property and achieve a significant reduction in energy consumption.  HRI aims to have this building as close to a Zero Net Energy Home as possible, which will involve several steps to reduce energy consumption and the introduction of renewable energy sources. 

Trolley Square

This highly visible parcel on the corner of Massachusetts Avenue and Cameron Avenue in North Cambridge was designated by the City of Cambridge for development as affordable housing. HRI was fortunate in receiving designation and quickly assembled the financing for this mixed use, mixed income development. Of the 40 units, eight have been sold to first time homebuyers. The remaining 32 rental units are reserved for tenants with incomes 60% below AMI. (Seventeen of these units reserved for tenants with incomes below 30% AMI, thanks to the NeighborWorks America ELI Program).

Trolley Square also features 2,800 square feet of a commercial/community space, 4,100 square feet of open space and a 42-space below-grade parking garage. This development has been constructed with a multitude of “Green” features and was the only project in the northeast to win a coveted Green Award from the Enterprise Foundation.

For more information on Trolley’s Green features, please see our Green Development page.

Marcella Street

This 16-unit property was acquired in September of 2006. The building contains four studio apartments, six two-bedroom apartments, and six three-bedroom apartments. All of the units are rented to residents that have incomes at or below 80% of the area median income. Rehab plans to the building will include the replacement of bathrooms and kitchens, as well as the removal of the electric baseboard heat and the installation of a gas-fired baseboard hot water heating system. Many green features will also be incorporated into the scope of rehab, including the use very low- or zero-VOC paints, energy efficient appliances, linoleum flooring, PET recycled-content carpeting, low-flow shower heads and toilets, and energy efficient compact fluorescent lighting.

Howard Street

This six-unit property was acquired in December 2005. This building contains three one-bedroom units and three two-bedroom units. Four of these units are reserved for residents that have incomes at or below 80% of the area median income and two of the units are reserved for residents earning at or below 60% of the area median income. Rehab plans included stripping the existing exterior siding and replacing it with new clapboards; insulating the walls; updating the electrical service; installing new kitchens and flooring in two of the apartments and installing a laundry room in the basement.