Well, this is outrageous.
The development that was built at 135 Athens Street/160 West Broadway was supposed to designated two of the 15 units would be sold at affordable units. Guess what? All 15 sold at market rates. When the BPDA found out about it, they issued a fine. A slap on the wrist.
Dan Atkinson from Dig Boston did an investigative article and discovered the developer purchased the property at 135 Athens St that year for $1.8 million. They then sold 15 units at market rate for a total of $9.95 million, an average of $664,000 a unit. The affordable housing units should have sold at a rate of between $180K-$239K for a one-bedroom and between $214K and $277K for a two-bedroom.
The BPDA fined the developer $600,000.
Atkinson also discovered that in addition to the the 135 Athens Street/160 West Broadway, three other projects also failed to comply with agreed-to affordable housing requirements.