Mark Development to sell former Santander Bank property to firm proposing retail and 100% affordable housing

MassHousing Provides $26.4M in Financing for Boston Affordable Housing Property

BOSTON — MassHousing has provided $26.4 million in financing for Beacon House, a 135-unit affordable housing property in Boston’s Beacon Hill neighborhood. The eight-story building was converted from a hotel to residential use in 1983. Of the 135 units, 117 are rentals that are subject to a range of income restrictions, and 18 units are rented through a commercial lease to nearby Massachusetts General Hospital for use by patients and their famil…

Mark Development to sell former Santander Bank property to firm proposing retail and 100% affordable housing

Boston-based real estate firm Beacon Communities recently announced plans to purchase the former Santander Bank property at 1314 Washington Street in West Newton from Mark Development - and to convert the building, and the parking lots behind it, into retail space and 100% affordable housing. The historic bank building dates back to 1915. It opened as the West Newton Savings Bank and later became a Santander Bank location. Mark Development, the …