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City explores pilot to acquire 6 deeply affordable family units at 55 Hertz Street
Summary
The city announced plans to pursue purchase of a six‑unit property at 55 Hertz Street in receivership as a pilot to create deeply affordable three‑bedroom family units for Chelsea residents, using overlay funds and a proposed revolving fund to maintain long‑term affordability.
The city manager informed the council the city is exploring a pilot affordable‑housing acquisition at 55 Hertz Street, a six‑unit property in receivership that the administration says could be converted into deeply affordable family housing.
According to the communication, the city intends to prioritize Chelsea residents for the units and to use overlay account funds to purchase the property; the purchase will require a vote by the board of assessors before council action. The pilot aims to provide six three‑bedroom units at rents affordable to low and very low income families and would create a revolving fund so the property can be self‑sustaining after acquisition.
Councilors supported the idea as a model for future city‑led affordable housing efforts and asked the administration to consider veteran preference language and to work with state partners—DHCD, MassHousing and MassHousing Partnership—on refinancing and long‑term affordability options.
City staff said the property has not yet gone to market and that acting now could preserve a rare opportunity for city‑led preservation of family‑sized units. The city intends to present financial orders to the council on Oct. 20 for approval.
