Massachusetts Housing Investment Corporation this year chose developers of two HNEF- financed projects to receive awards at its annual meeting and awards ceremony, held on June 4 at the Omni Parker House in downtown Boston and attended by nearly 300 people.
The awards were presented to: Sarah Barnat, president of Barnat Development, for her development of Holmes Beverly, for which HNEF provided a $4.9 million investment. Barnat Development specializes in urban, mixed-use and transit-oriented residential construction. Holmes Beverly is a new mixed- income, mixed-use apartment complex next to the Beverly MBTA Depot commuter rail station.
The 67-unit development has transformed a vacant, underutilized parcel at a commuter rail station onto a new transit-oriented community. Ms. Barnat received an Excellence in
Community Development award “for her visionary plan and steadfast execution in re-imagining a vacant parcel into a vibrant transit-oriented building with dynamic retail and homes accessible to households with a range of incomes.”
Kamran Zahedi of Urbanica, Inc., a Boston-based developer which specializes in transforming underutilized spaces into unique projects. Urbanica received an Excellence in Minority
Inclusion award “for being a champion of equity and inclusion and for creating access and opportunity for minority-owned firms and workers of color during the construction of the Melnea Residences.”
The Melnea Residences is a new, mixed-income apartment complex with 50 rental apartments for which HNEF provided a $3.85 million investment. It was built on a vacant property on the edge of Dudley Square in Roxbury, adjacent to the new Marriott Residence Inn, which also received New Markets Tax Credit financing from MHIC. During construction of the Melnea Residences, Kamran Zahedi made extraordinary efforts to utilize workers of color and minority-owned businesses.
In presenting the awards, MHIC President Joe Flatley said, “We are more than delighted to have this opportunity to publicly recognize those who have gone beyond what was required to not only build badly-needed housing in Massachusetts, but in doing so to advance the revitalization of neighborhoods and to create jobs and new opportunities for community residents.”