Walnut Street Apartments

Massachusetts

Walnut Street Apartments is located in Foxborough, Massachusetts – mere miles from Gilette Stadium, home of the New England Patriots – will bring 141 new one-bedroom affordable apartments for low-income seniors to the community. Massachusetts has the second highest cost of living in the United States, with sky high home prices and rents. That high cost of living is especially hard to navigate for low-income families and seniors living on fixed incomes.

Built by Boston Financial’s long-time partners Peabody Properties and Affordable Housing and Services Collaborative along with JV partners OnyxGroup and Novo Growth Partners, Walnut Street is focused on seniors and designed to create a community feel and a sense of belonging – something that’s essential for seniors. The development features a grilling area and quad, plus pickleball and bocce courts, allowing residents to enjoy the beautiful setting just outside of their homes. There’s also a senior-focused fitness room to help promote physical health for the residents, a community garden with raised garden beds, and an on-site dog park. According to the American Humane Society, studies have shown that the bond between people and their pets is linked to several health benefits, including: decreased blood pressure, cholesterol levels, feelings of loneliness, anxiety and symptoms of PTSD.

The first phase of Walnut Street is ongoing, with 141 units under construction, and a second phase is in the works. Expanding the supply of affordable housing has been a top priority for the Healy-Driscoll administration, which recently passed the Affordable Home Act, a $5.1 billion bond bill, to fund new housing. Walnut Street is the first new affordable development to come to Foxborough in decades. The land Walnut Street is built on was originally owned by the state, which was ultimately conveyed to the partnership via a long-term ground lease with the Foxborough Housing Authority. Walnut Street shows how rapidly new affordable housing can be built when government, developers, investors, and community groups all work together.