New Bedford Guide Your Guide to New Bedford and South Coast, MA
“Alinea Capital Partners announced that it will begin construction on 10@8th, a new residential community in New Bedford. The transit-oriented development will include 52 units of housing affordable to low- and moderate-income working families. When completed, the project will be the largest new construction project built downtown in 38 years.
“The City continues to support the construction of new units in an effort to create attainable housing opportunities for all residents,” Mayor Jon Mitchell said. “I’m grateful to Duane and the Alinea team for their investment in New Bedford, and to our partners on the state and federal levels for their support. We’”10@8th”? Is that supposed to be 1028th?re proud of the team effort underway to ensure housing opportunities for residents at every income level.”
“After years of collaboration with the City of New Bedford and community leaders, we are pleased to begin construction of this landmark development. New Bedford’s working families deserve housing that is convenient, attractive, and affordable,” said L. Duane Jackson, Managing Member of Alinea Capital Partners, LLC. “This project would not be possible without the support of the Office of the Mayor and the public and private partners who invested time and capital to create a viable structure to achieve long term long-term affordability for the residents of the city. As New Bedford becomes a hub of America’s emerging offshore wind industry, we are proud to be a critical part of building the Whaling City’s bright future.”
Funding and financing for the project is being provided through a combination of city, state, and federal resources, as well as the participation of private partners. Funding from the federal American Rescue Plan Act (ARPA) and Low-Income Housing Tax Credits (LIHTC) and other state and local resources are being used to finance the development. Mayor Mitchell awarded its funding through the city’s Housing Expansion Initiative. Additional state resources, including debt and equity, were provided by the Commonwealth of Massachusetts Executive Office of Livable Communities, MassHousing, and the Massachusetts Housing Investment Corporation. Construction financing is provided by Chase Bank.
Located at the former Mass. Registry of Motor Vehicles building in the heart of downtown’s business, retail, and entertainment centers, the building will feature views of New Bedford Harbor and will be convenient to the new Southcoast Rail commuter rail station set to open in 2024.
“Increasing the supply of affordable housing in Massachusetts is critical to lowering living costs for our residents and bolstering the state’s economic competitiveness,” said Ed Augustus, Secretary of Housing and Livable Communities. “Transit oriented projects in Gateway Cities are key to building the bright future of the Commonwealth. Communities and residents alike benefit when there are more places like 10th@8th to call home.”
The project was designed by Boston-based DHK Architects and was previously approved by the New Bedford Zoning Board. The new five story building will be LEED-certifiable, using clean energy including solar panels. It will have an underground parking garage for 19 vehicles with designated electric vehicle (EV) ready spaces. WinnResidential will manage the project upon completion, which is currently expected in mid-2025.
“To be able to redevelop an underutilized parcel in the heart of New Bedford into a new housing community that will be affordable to 52 households is an exciting opportunity for the city and the residents who will call 10 @ 8th home,” said MassHousing CEO Chrystal Kornegay. “MassHousing is pleased to be part of this effort that is going to provide the project’s new residents with housing stability and economic opportunities in greater New Bedford.”-City of New Bedford.
City of New Bedford photo.
