Parker Hill Apartments

Located on the highest point above sea level in downtown Boston, Parker Hill was a 90-unit family housing project in desperate need of rehabilitation. Despite its location in an area where rents are rapidly increasing, Silver Street Development has committed to offer 30 years of affordable housing to people earning 60% of the local median income in almost half of the units, developing a diverse, mixed-income property. The building offers a great views from many of the apartments of the City to the north and the Blue Hills to the south. It was originally purchased with tax-exempt bond financing and fully renovated in 1998. After the initial Compliance Period it was refinanced using HUD 223(f) financing which allowed for a $1,600,000 facelift to the facades, units, and elevators. The renovation has helped reposition the property and markedly increased curb appeal to the savvy renters of Boston.

90 Units

Acquired: 1998

Investor: Private