16 Ronald Street Development Affordable, Service-Enriched Elder Housing

Presentation to:

Greater Four Corners Community April 13, 2016

Hearth, Inc.

Introducing Hearth….

A community based non profit serving at-risk elders in Boston’s urban neighborhoods

A neighbor to Four Corners, homes located in Ruggles Square, Olmsted Green (Dorchester/Mattapan) and Upham’s Corner

A committed partner to community service organizations in Dorchester, Roxbury, Mattapan

Committed to affordability, diversity and sustainability in perpetuity

Who are our Partners?

Bowdoin St. Community Health Center

Kit Clark Senior Services

Boston Senior Home Care

Central Boston Home Care

Commonwealth Care Alliance/Senior Whole Health

Boston Medical Center Geriatric Care

Urban League of Eastern Massachusetts

Lena Park Community Development Corporation

Freedom House

Our approach to 16 Ronald Street Honoring history, serving Four Corner’s future

16 Ronald Street Development Program

52 units service enriched elder housing

100% affordable, in perpetuity

Extensive amenities for residents, including dining room, library, brain gym, etc.

Landscaped courtyard and community room encourage neighborhood interaction

Potential connection to MBTA station

Who will we serve?

Affordable to fixed income elders with incomes ranging from Social Security Income to $40,000

Elders at risk of homelessness or premature nursing home placement due to frailty/income

Hearth Outreach Team will target neighborhood residents to ensure access

8

2015 Economic Security Index

Apartment Type/Amenities

52 1BR units, averaging 560sf

Highly efficient HVAC in unit/common area

Full kitchen with appliances

High quality finishes and materials

Bay windows enhance natural lighting

Extensive common areas to encourage social interaction, including dining room, library, brain gym and community room (please visit Hearth at Olmsted Green for comparison)

Why Hearth at Four Corners?

Affordable elder housing is our sole mission

Unparalleled expertise in outreach and resident services for elders

Commitment to community & affordability

Strong, diverse development team experienced with projects of comparable scale (e.g. Olmsted Green)

Letters of Interest for private financing in hand

Four Corners will be our only focus… we are ready to proceed immediately!

Next Steps

Build upon Greater Four Corners Fall 2015 strategic planning efforts (late Spring 2016)

Schedule design charettes to build consensus on final design (late Spring 2016)

Commence permitting (Summer/Fall 2016)

Commence financing (Summer/Fall 2016)

Close/commence construction (Spring 2017) (assumes public funding approved)

Hearth at Four Corners

Questions?

Tours of Hearth Properties?