Mattapan apartment building with 347 units just sold for $65M or $187k per unit.

In a previous article we said it cost $20B to create 50,000 affordable apartments at a cost of $400,000 per apartment and the cash flow from 50,000 income-restricted tenants would pay for it a few times over a 15-year mortgage period.

SmallWall.net stands by those estimates because after we posted the piece, the Boston Business Journal published an account of the sale of 15 Bismarck Street, an apartment building in Mattapan with commercial office space and 14 Studio apartments, 143 1BRs and 190 2BRs named the Fairlawn Apartments.

sold recently

When 800,000 affordable housing consumers protest in the face of the relatively small number of affordable housing developers and budget sources, when they protest louder than a few of the 800,000 furloughed federal workers did, then you may see 100,000 new affordable housing units under construction in Greater Boston by next year.