our portfolio
Coalition for a Better Acre has been actively involved in the development of affordable housing and commercial development for the past 27 years. In that time, the agency has been responsible for the development of 380 residential rental units, 50 homeownership units, plus retail, office, community center, and light industrial space. In a broad array of project types, including a large garden-style apartment complex, duplexes, and mid-rise apartment buildings, the agency has demonstrated expertise with complex financing packages, including the use of Low-Income Housing Tax Credits, HOME, Affordable Housing Trust Fund, the Federal Home Loan Bank’s Affordable Housing Program, Mass Housing Partnership, NeighborWorks America, LISC, CEDAC and other private and public funding sources.
Acre Homeownership - 1983
Suffolk, Adams, Cross and LaGrange Streets
This project involved redevelopment of a severely blighted section of the Acre. Thirty-five units of newly constructed affordable homeownership and two rental units were created on several previously troubled parcels. The project required sophisticated scattered site construction management.
North Canal Apartments – 1989
Refinance and Additional Improvements – 2007
(7 acre site) along Moody Street
The first North Canal redevelopment was highly successful rehabilitation and financial re-structuring of a failing HUD expiring-use property into 267 units of affordable rental housing for low-income families. North Canal is widely considered to be one of the most technically challenging, privately owned affordable housing developments in the country, involving a financing package that includes several community lending institutions in Lowell. CBA acted as developer, sponsor and project manager during construction, finishing the project on time and under budget. CBA continues to own and manage North Canal Apartments together with the North Canal Tenant Council.
CBA re-financed and re-syndicated this 267-unit rental property which is owned and managed by a partnership that includes CBA and the North Canal Tenant Council. This project included moderate to substantial rehab, making what was already a keystone of CBA’s assets into a showcase for the neighborhood. The project was accomplished with significant resident participation and decision-making. It will preserve the affordability and sustainability of these apartments in perpetuity.
Triangle Rental – 1989
Broadway, Suffolk and Market Streets
Triangle Rental is a residential and mixed-use rehab development comprising twenty-six affordable housing units and three commercial units. Two of three structures in the development were restored to preserve their historical significance in the neighborhood.
Merrimack Street Apartments – 1990
Refinance and Improvements – 2007
442-460 Merrimack Street
The Merrimack Street Apartments was the first of several CBA rehabilitations involving historic preservation. Merrimack Street is a successful mixed-use project that currently houses twelve affordable rental apartments and six commercial spaces. Several of the retail spaces are occupied by small, minority-owned businesses. CBA continues to own and manage the property.
As an expiring use (tax credit) property, this project was renovated and preserved with 4% tax credits in 2007 which brought a new financing package for acquisition and moderate rehab. The property will be maintained as affordable housing (12 units) and retail space (5 units).
Fletcher Street Condominiums – 1996
198-242 Fletcher Street
These three-bedroom townhouses were built of high quality modular construction for greater durability and lower maintenance. Eight homeownership units were developed on three previously troubled lots and sold to low-income first-time homebuyers. CBA acted as developer and general contractor for the project.
Moody Street Center – 2002
517 Moody Street
This project involved the conversion of the historically significant former St. Joseph’s Convent into a large community center for North Canal residents with two floors of new office space above. The building was restored according to historic preservation standards.
Fletcher Street - 2003
252 Fletcher Street
At 252 Fletcher Street, a new duplex was built for two first-time homebuyers on a corner lot with off-street parking and yards. This project continued the improvement of the Fletcher Street neighborhood that was begun with the 198-242 Fletcher Street project and which was further continued with the Liberty Square project in the building at 63 Fletcher Street.
Suffolk Street Joint Venture (with Residents First Development Corp.) - 2005
76-132 Suffolk Street
The Suffolk Street Joint venture project included the development of five, three-bedroom duplexes for moderate-income homeownership and low-income rental. Each building was designed to match the styles common in the early twentieth century and, as such, provide a handsome ‘gateway’ to the Acre Re-vitalization area. Construction was completed in January, 2005. CBA was co-sponsor and co-developer.
Carriage Place - 2006
48-64 Middlesex Street
At the recommendation of the Mass. Housing Investment Corp. (MHIC), CBA was asked to take on the role of managing general partner of this Low Income Tax Credit when in 2005 the original managing general partner of this property notified the funders and partners of their intention to withdraw from that role. CBA came into this role in 2006 and stabilized the property which offers 24 residential units and 4 commercial units in a key area of downtown Lowell that the city is investing in and revitalizing.
St. Joseph's School - 2008
511 Moody Street
CBA’s Saint Joseph’s School project is an adaptive reuse of an historic school building that has been vacant for many years and is adjacent to our offices. The project created 15 affordable rental units (four of the units are one bedroom; 10 of the units are two bedrooms and one unit is a three bedroom). Two of the units are set aside for clients of the Department of Mental Health. The restoration of this beautiful historic building is strategic in the revitalization of the immediate neighborhood and the Acre neighborhood of Lowell. The building is listed on the National Register of Historic Places.
