Grand opening of Treadmark celebrated by Mayor Walsh, Trinity Financial
June 7, 2019
Building on his commitment to build more affordable housing in the City of Boston, Mayor Martin J. Walsh today joined Trinity Financial, elected officials, community and business leaders to celebrate the official opening of Treadmark - an 83-unit mixed-income, mixed-use, transit-oriented development in Dorchester.
"The opening of Treadmark is an important and exciting milestone for Peabody Square," said Mayor Walsh. "I want to thank Trinity Financial and all partners for quickly committing to rebuilding this project after the devastating fire in 2017. I am proud that together we have created dozens of affordable units and retail space for businesses that will help boost the local economy."
Treadmark is inspired by the neighborhood history of the former Ashmont Tire company, a landmark business that operated on the site for almost 50 years. The building boasts 83 mixed-income units to the neighborhood, including 51 affordable rental units and 32 homeownership units.
Treadmark was designed by HGTV celebrity and Boston-based interior designer Taniya Nayak, who integrated the character of Dorchester, creating a vibrant and welcoming project. The project also features ground-floor retail with the neighborhood shop, American Provisions. Exterior landscaping was created by the landscape architecture and planning firm Copley Wolff Design Group. In addition to American Provisions, Trinity Financial will complete the ground-floor retail program, with two remaining retail spaces totaling 2,500 square feet.
"We're excited to celebrate the official opening of Treadmark and want to thank all of our public and private partners for their hard work and collaboration, which has been vital in bringing the vision of this project to fruition," said James Keefe, principal at Trinity Financial. "Treadmark is located on the red line in the heart of Boston's most diverse neighborhood. We are so proud of this project and of the commitment of this community whose support has been instrumental, particularly through the rebuilding process."
The development for this new building was made possible in part by investments from the City of Boston; the Massachusetts Department of Housing and Community Development; Boston Private Bank; and RBC Capital Markets. Additionally, the Massachusetts Housing Investment Corporation played a crucial role in the completion of the Treadmark project.
The ribbon cutting of Treadmark marks a major milestone in the continued growth of Ashmont/ Peabody Square following a lengthy process of recovery after a 2017 construction fire. Dedication to the neighborhood led to the commitment to immediately rebuild. In addition to these 83 new units of housing, the City has added more than 200 units of housing to the area.
"Treadmark highlights our long-standing commitment to community investment, and we are pleased to be a key financing source for this type of mixed-used, mixed-income project that will benefit this neighborhood for generations to come," said Esther Schlorholtz, director of community investment, Boston Private Bank.
"Treadmark exemplifies what can be done through strong public-private partnerships and targeted investments. It advances the transformation of a historic Boston neighborhood into a vibrant, healthy and diverse neighborhood, and it was a perfect fit for a Healthy Neighborhoods Equity Fund investment," said Joe Flatley, president of the Massachusetts Housing Investment.
Trademark offers affordable units to low- and middle-class families and strongly aligns with the City's housing goals outlined in Housing a Changing City: Boston 2030. Mayor Walsh recently increased the City's overall housing targets from 53,000 to 69,000 new units by 2030 to meet Boston's population growth. These updated housing goals build on Mayor Walsh's commitment to increasing access to home ownership, preventing displacement and promoting fair and equitable housing access.
Since the release of the original Housing a Changing City: Boston 2030 plan in 2014, income-restricted housing stock, designed to increase affordable housing, has grown along with overall new production: nearly 20 percent of housing units are income restricted, and 25 percent of rental units are income restricted. In total, after creating an additional 15,820 units of income-restricted housing, Boston will have nearly 70,000 units of income-restricted housing by 2030.
For more information on the City's work to create more housing, please visit: Housing A Changing City: Boston 2030.ABOUT TRINITY FINANCIAL
Since 1987, Trinity Financial has pursued a distinctive vision in real estate development, dedicated to revitalizing neighborhoods, strengthening commerce and fostering opportunities through a collaborative urban spirit. Our work spans half a dozen residential and commercial specialties, from multi-unit housing to transit-oriented development. Across that spectrum, Trinity projects, demonstrate a high caliber of vision and attention to detail, which sets them apart and has led to sustainable success.