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HPD: 2560 Boston Road plan grows to 483 units; financing and unit mix under review
Summary
HPD finance staff told the Housing and Land Use Committee the 2560 Boston Road project has increased from about 333 to 483 proposed units, that underwriting and financing reviews are underway, and that the proposal includes a 30% set‑aside for formerly homeless residents with the remainder offered through Housing Connect and reduced local preference.
HPD finance staff told the Housing and Land Use Committee on Dec. 16 that the 2560 Boston Road housing proposal has grown substantially and is still under financing review.
Ted, an HPD finance representative, said the project’s proposal has changed since its rezoning, noting that "whereas during ULURP, it was 333 units. They're now proposing 483, which is a significant difference." He said HPD’s finance and planning units have received new underwriting numbers from the developer and are reviewing square footage and financing assumptions, and that approval is not guaranteed until those reviews are complete.
The committee and members of the public…
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