The next generation of housing
New Seasons Development, LLC, an affordable housing development consulting firm, creates high quality, environmentally sensitive, and thoughtfully designed residences for households of all income levels within Massachusetts. We facilitate the development of housing that is attractive, location-appropriate, highly functional, sustainable, and built at a reasonable cost. New Seasons is devoted to addressing the Commonwealth's need for a broad range of housing choices without undermining the character and fabric of its communities.
Our Firm
New Seasons Development is a for-profit residential and commercial real estate development consulting firm that assists its clients in the development of affordable, mixed-income, and market-rate housing. As a key member of the project development team, NSD’s role relates to the program design, structuring, and financing of the project. New Seasons provides non-profit and for-profit clients with knowledgeable and affordable assistance about how the affordable housing industry, financing programs, and government processes operate. NSD has expanded its client base as well as its capacity to serve its clients over time. Since NSD’s inception in mid-2014, its clients served annually has grown over 400%; its projects have increased over 300%. Its staffing capacity has grown from two to three people.
Our Services
New Seasons offers real estate advisory services designed for both the new construction and rehabilitation of multi-family buildings. We work with owners and developers on financing, including obtaining and satisfying requirements for public funding sources, such as state and federal Low Income Housing Tax Credits (LIHTC), Housing Development Incentive Program tax credits, tax exempt bonds, Community Preservation Act funding, CDBG and HOME funds, state bond funded subsidy programs for housing, and state and federal Historic Tax Credits. NSD’s clients include housing developers and municipalities or housing authorities. We work closely with architects, contractors, public officials, lenders and investors. We review project development concepts within the context of zoning, financing opportunities, and overall feasibility.
Our Story
New Seasons’ President Wendy Cohen brings more than 25 years of experience as a lender in the quasi-public sector, as Director of Housing Development in the non-profit sector, and as LIHTC program director for the Commonwealth, and most recently as a development consultant. New Seasons is a woman-owned business enterprise certified by the Commonwealth of Massachusetts’ Supplier Diversity Office. The New Seasons team, comprised of Wendy Cohen, Meg Kiely Close, and Toni Coyne Hall, provides exceptional public and private real estate experience at highly competitive pricing.
News
AWARD ANNOUNCEMENTS
Glen Brook Way Apartments, Medway
Congratulations to Jennifer Van Campen, Executive Director and Shaina Korman-Houston, Deputy Director of Metro West Collaborative Development, Inc. for receiving an award in December 2019 of federal and state Low Income Housing Tax Credits, as well as a mix of state housing funds for the construction of Glen Brook Way Apartments! Glen Brook Way Apartments creates 48 one, two and three-bedroom units in four buildings in Medway. The award leverages $1 million of local CPA funds and creates 17 one-bedroom, 20 two-bedroom and 11 three-bedroom units affordable to households earning up to 60% of the area median income. Fifteen of the units are reserved for extremely low-income households. Thirty-two units will be visitable by people using wheelchairs and will meet Universal Design standards; six units will be fully accessible. The site design includes a new roadway, 73 parking spaces, a tot lot, bicycle storage and open green space. The future residents will have access to meadows and walking trails, with 44% of the site remaining as open space due to its proximity to wetlands. A second phase of development, totaling 44 units of housing for people aged 62+, is in the works as well.
Rendering by Meander Architects | Glen Brook Way Apartments is Phase I of a two-phased project
Dracut Town Hall Annex
Award announcement with Yun-Ju Choi, Executive Director for CBA (3rd from R), CBA board president Kerry Regan Jenness (far R), Janelle Chan, Undersecretary of DHCD (far left), Lieutenant Governor Karyn Polito (3rd from L), Acting Town Manager Ann Vandal (to L.G. Polito’s L), and other community leaders and representatives
Rendering of Dracut Town Hall Annex
NSD is pleased to announce that in November 2019 Coalition for a Better Acre of Lowell received an award of funding through the state’s Community Scale Housing Initiative for the substantial rehabilitation of a former school building into nine (9) units of affordable rental housing with a preference for veterans and local households. The Town Hall Annex, located at 11 Spring Park Avenue in Dracut, is a signature neighborhood building that was constructed in 1898 as the Dracut Centre School. The adaptive reuse project will consist of a major renovation of the existing building to create four two-bedroom units, four one-bedroom units, and one studio, including two fully accessible units. The property will provide housing for working veterans at the higher end of the low-income spectrum (65-80% AMI) who are struggling with quality, affordable housing in the escalating rental market in the Greater Lowell region. The state housing award leverages more than $1.2 million of Town of Dracut Community Preservation Act funding and the project will also benefit from historic tax credits. CBA will partner with Veterans Northeast Outreach Center of Haverhill, as well as the local non-profit Veterans Assisting Veterans, to maximize its outreach to and engagement with local veterans. The team is also excited to announce that the Greater Lowell Technical High School (GLTHS) will develop co-operative working opportunities for its students during the construction phase of the project.
Award Ceremony with Pam Hallett, Executive Director of Housing Corporation of Arlington, Janelle Chan, the Undersecretary of Housing and Community Development and Karyn Polito, Lieutenant Governor.
Awards Ceremony
NSD is thrilled to announce the award of federal and state Low Income Housing Tax Credits, as well as a mix of state housing funds, to Housing Corporation of Arlington (HCA) for the development of the Downing Square Broadway Initiative (DSBI). DDBI will create 48 affordable rental housing units on two sites located at 117 Broadway in East Arlington and 19R Park Avenue in Arlington Heights. This award leverages an additional $3.9 million dollars of local sources committed by the Town of Arlington and the North Suburban HOME Consortium. DSBI will create 17 one-bedroom, 24 two-bedroom and seven three-bedroom units affordable up to 60% of the area median income. Sixteen (16) of the units will be affordable to extremely low income households, including five with a preference for homeless families. While located in distinct neighborhoods, both sites are transit oriented development sites with access to services, shopping, restaurants, schools, cultural activities, parks and other open spaces, including the Minuteman Trail. The Downing Square Broadway Initiative will benefit the community by remediating a Brownfields site, building high quality and affordable housing on primarily vacant and rundown properties, providing a new space for the food pantry, and by constructing housing in an Opportunity Community. Congrats to Pam Hallett and her team at HCA!