On Monday, October 23, the Saige on Fountain project was inaugurated in Boston. This development stands as the city's first all-electric, multi-unit ownership venture. Worthy of note, the grand opening took place in the presence of city officials and those involved in the project.
Located in Dorchester's Fountain Hill neighborhood, the development adds 40 affordable homes to the housing market. The city's Mayor Wu influenced these efforts, which were executed using previously underutilized land. Additionally, the project adheres to eco-conscious regulations, meeting standards set by the U.S. Green Building Council and the U.S. Environmental Protection Agency's Energy Star program.
A diverse collaboration brought this project to life. The Mayor's Office of Housing, the EOHLC, MassHousing, Oxbow Urban LLC, and neighborhood groups all contributed to the Saige on Fountain project. The vacant site was purchased from the Fountain Hill Square Condominium Association, who wanted to support affordable homeownership. As per Boston.gov, Oxbow Urban leveraged their expertise with the Neighborhood Homes Initiative to acquire the land, revealing the effectiveness of cooperative partnerships for equitable development.
Addressing affordable housing requires acknowledging the collaborative efforts and myriad of resources contributing to its success. Chief of Housing Sheila Dillon praised the partnership that facilitated these income-restricted opportunities for Boston residents. Numerous entities, like the Mayor's Office of Housing, Community Preservation Act Funding, EOHLC, MassHousing, The Life Initiative, and Cambridge Trust Company, offered financial support for the endeavour.
Illustrating the success of the project, 20 of the 40 new affordable homes to have been sold first-time buyers with incomes at or below 80% of the Area Median Income (AMI). The remaining units are designated for households whose incomes sit at or below 100% of the AMI. This tangible success demonstrates the shared vision of Mayor Wu, housing officials, and stakeholder's commitment to fostering a more equitable and inclusive future for Boston.
EOHLC Secretary Ed Augustus highlighted the long-term impact of initiatives like Saige on Fountain, in a statement quoted by the City of Boston's celebration announcement. He stressed the importance of homeownership in creating generational wealth and fostering a prosperous future for society.
The Saige on Fountain opening is testament to the power of community engagement and cross-sector collaboration in achieving collective goals. With combined resources and collective commitment, there lays the potential to build a fairer, more sustainable, and inclusive city.
Those interested in learning more about housing resources can visit the Mayor's Office of Housing website.
