Wu proposes temporary tax breaks to start construction on 1,400 Boston homes
The mayor's office said time-limited abatements for four already-approved developments in Charlestown, Allston and Brighton would move 1,400 units into construction, with the BPDA Board set to take up the plan in October.
Mayor Michelle Wu on Tuesday proposed temporary property tax abatements for four already-approved market-rate housing developments in Boston, a step the city said would move 1,400 homes into construction, including at least 185 income-restricted units.
The mayor's office said the abatements would defer part of future property tax increases for projects that can show the relief will let them break ground within a year. The city would see no net revenue loss and developers would keep paying at least what they pay now, according to the mayor's office.
The four projects would receive an estimated $31.5 million in total temporary relief, or about $22,500 per unit, the city said. The relief would be contingent on each project starting construction within an agreed timeframe. City officials said the developments would support an estimated 1,582 jobs and provide more than $20 million under the city's inclusionary development requirements.
The projects are One Mystic Avenue in Charlestown, a 16-story building with 408 homes across from Sullivan Station; 22-24 Pratt Street in Allston, with 318 homes; 83 Leo M. Birmingham Parkway in Brighton, with 333 homes on the former site of several radio stations; and Allston Yards Building D, with 341 homes. All four were previously approved by the board of the Boston Planning and Development Agency.
The BPDA board will consider opening formal negotiations at its monthly meeting in October, the city said. A 30-day public comment period is open, and city staff plan public meetings on each project.
The city said it is prioritizing projects of more than 100 units that include income-restricted housing and meet high energy-efficiency standards.
This brief was drafted by AI from a public agency press release and published by The New England Signal. Why we use AI for stories like this one.