Beverly-based Harborlight Community Partners (HCP) announced that a collaboration among state, federal, and corporate entities preserved the Turtle Creek residence, a109 unit affordable housing development for seniors, while incorporating extensive upgrades to the 30-year old facility.
Incoming HCP Board of Directors President, Robert Gillis, states, “The financial restructuring of this housing exemplifies the incredible good that comes from collaboration in its highest form. The work done by the agencies and financial experts who came together on behalf of Turtle Creek is outstanding.”
At the heart of the project is a HUD financing pilot program, which combines the strength of two federal programs that previously had not come together on housing projects: HUD insured loans and housing tax credits. This is only the 12th deal of its kind nationwide with this new program, and the 4th in New England.
Both rehabilitation and green energy features are part of this plan. Rehabilitation includes new elevators, new windows with the lowest lift weight possible for ease of use by seniors, upgraded paint, new carpeting and refrigerators, low flow toilets and faucets, and new exterior lighting. HCP will add new insulation and siding to improve the appearance and energy efficiency (the siding is a green recycled cement board material), replace old exterior sheathing that has rotted, convert to gas heat and new heating systems, add a cooling system for the common areas and new ventilation systems. HCP is also incorporating a cogeneration system to create electricity on site while heating water for the heat system. This makes power for use on site and reduces the need to buy power.
“Here at Turtle Creek we see just how powerful partnerships between and among federal, state and local agencies can be when we link our investments with community organizations to offer much needed housing and energy efficient improvements,” said Barbara Fields, HUD New England Regional Administrator.
Andrew DeFranza, Executive Director of HCP, emphasizes the benefit of those most vulnerable in our communities. “After all is said and done,” says DeFranza, “what matters most is that we offer quality, care-based and dignified housing to our seniors. All of these agencies and investors coming to the table is an extraordinary effort to do just that. We are grateful to each of them.”