Kensington Investment Company Roxbury (KIC Roxbury LLC) has filed a Letter of Intent with the Boston Planning & Development Agency to initiate the approval process for 45 Townsend Street, a residential community on a former hospital site in Roxbury. The proposed development will include up to 322 market rate rental apartments from studios to three bedroom units, as well as affordable home ownership units within walking distance of the site.
“It is our firm belief that both our on-site market rate housing and off-site affordable home ownership will benefit the neighborhood and will generate long term wealth creation for residents in Roxbury,” says Charlotte Lewis, Senior Vice President, Kensington Investment Company. 45 Townsend Street will re-activate a vacant parcel to viability, returning it to the tax rolls. From 2019-2021, the project will yield 500 construction jobs. Once the site is operational, it will generate $200,000 in local vendor contracts annually, while providing up to 20 full-time jobs and 30 co-working spaces for local entrepreneurs. Residents will also benefit economically, as the project will employ sustainable design to reduce resident energy costs.
For the 45 Townsend Street project, KIC Roxbury LLC has assembled a diverse and community-focused development team, including: Kensington Investment Company, Lewis Family Foundation, Legacy Consultants, Studio G Architects, D/R/E/A/M Collaborative, G-O Logic, Ground Inc., JANEY Construction Management and Consulting, and BevCo Associates. Lewis says, “Our commitment to local contractors, vendors, and jobs is strong.” She notes that minority/women-owned business enterprises represent over 50% of the project team.
The Lewis Family Foundation has a history of investing in and supporting Roxbury-based organizations and has donated over $16 million to Roxbury, Dorchester and Mattapan nonprofits with the key goals of 1) doubling college graduation rates and 2) creating 500 jobs for young people with an average salary of
$38,000 annually. The Foundation has been investing in Roxbury long before this project was conceived and will continue to invest long term.
Above: Image courtesy Studio G Architects and renders by G-O Logic