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Mayor Setti Warren sent the following email to the Board of Aldermen this morning:

I would like to announce, after hearing from residents and members of the Honorable Board over the last several weeks and having a discussion with Austin Street Partners this morning, Austin Street Partners has agreed to increase the number of affordable units in the Austin Street project to 23 (33%) of the units. Six units would remain eligible for voucher holders. There would be no change in the other conditions, including money for improvements in Newtonville or the monetary compensation to the City. The Law Department is currently redrafting the Board Order. We will send out this proposed language later today. If you have questions about the Board Order, please contact Ouida Young. For other questions, you can contact me or Dori Zaleznik.

Below is a statement from Austin Street Partners:

Austin Street Partners has continued to listen to suggestions to improve the Austin Street project. Our commitment to providing affordable housing has remained strong and fundamental to the project. Based on our commitment to affordable housing, we are proposing to increase affordability in the project from 17 units (25%) to 23 units (33%). We are aware that this increase is not included in our financial projections and represents for us a risk of finding some alternative source of funding or subsidy, but Austin Street Partners is willing to assume this risk.

Sincerely,

Setti D. Warren

Mayor







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