Jackson Parkway Revitalization
Holyoke, Massachusetts
Development:
60 For-sale Homes
The Holyoke Housing Authority (HHA) was awarded a $15 million HOPE VI grant in 1996. HHA partnered with TCG Development Services, LLC, which completed a 60-unit homeownership development, known as Oakhill, as part of the Jackson Parkway HOPE VI program. To make homeownership more affordable for prospective buyers, Oakhill was awarded three grants: $313,000 from the Federal Home Loan Bank of Boston through Fleet Bank; $750,000 from the Massachusetts Department of Housing and Community Development's HOME Program; and $303,000 from the state's Affordable Housing Trust.
The Oakhill homes are Victorian-style, single-family residences that were designed by Fernando Domenech, an award-winning architect, who focused on an attractive street presence with large front porches, private yards, and off-street parking. The Oak Hill Homeownership program fulfilled two key goals: the development built on and diversified the existing ownership structure of neighborhood, and it also attracted higher income households back into the neighborhood. The Oakhill community is a mix of household incomes ranging from approximately 45% to 115% of area median household income or $23,000-$58,300, based on a family of 4 and median income of $50,700.
In addition to these homeownership units, this 16.5 acre parcel also contains the newly constructed 50-unit Victorian-style Churchill Homes rental townhouses, as well as a small park and a 5000 SF Oak Hill Community Center, which houses a daycare, a computer learning center, management offices, community space and healthcare and classroom facilities.
Development Team:
TCG Development Services, LLC
Holyoke Housing Authority
Financing:
Massachusetts Department of Housing and Community Development
Affordable Housing Program/Federal Home Loan Bank
Fleet Mortgage - Bank of America
Holyoke Housing Authority
U.S. Department of Housing and Urban Development
Architect/Engineer:
Domenech, Hicks & Krockmalnick
Contractor:
Saloomey Construction
Marketing/Management:
TCGD/Community Market Services, Inc
