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Charles River Center team says HLC reapplication set for fall after funding-cycle delay
Summary
Project presenters told the Needham Housing Oversight Committee the Charles River Center will resubmit a pre-application to the Executive Office of Housing and Livable Communities in October with a full one‑step application due in December; Mass Saves registration and a pending market study are expected to strengthen the submission.
The Needham Housing Oversight Committee received an update on the Charles River Center project, which the project team said will re-enter the state funding process this fall.
Phil, a project presenter, told the committee the team plans to submit a pre-application to the Executive Office of Housing and Livable Communities (EOHLC) in October and a full one‑step application in December. He said the project is registered with Mass Saves to capture rebates tied to the planned passive‑house construction and that the team expects to hear about funding in May 2027.
Committee members asked about a one‑year schedule shift: originally the loan closing had been projected for March 1, 2027, but that milestone moved to March 1, 2028. A committee member asked for an explanation; the presenters said the project was not invited into an earlier funding round and that the EOHLC/HLC schedule this year consolidates rounds into a single cycle, which pushed the closing timeline to the next cycle.
On household demand and unit mix, project staff said a market study—required for an HLC submission—will be refreshed up to six months before application and that recent leasing experience in comparable properties suggests demand for income‑restricted two‑bedroom units. Supportive services and some resident supports will be funded by third parties and not by the project's operating budget, presenters said, and referrals for certain residents will come through the DDS waitlist.
The team told the committee the project’s funding check‑in is set for September 30, 2028, which is the milestone by which financing must be in place. Presenters emphasized that HUD or state approvals remain the schedule’s most time‑sensitive items; they said the revised timeline reflects pacing and realistic expectations rather than a change in the project’s overall viability.
The committee requested an update after the fall funding round and the presenters said they will return with more detailed materials at the next check‑in.
