Parkview Homes LLC celebrated its grand opening introducing 10 new affordable deed-restricted home-ownership units at 192 Lexington St. The $5 million development features eight 3-bedroom 2.5 bath duplex units and two single-family units. The development team is preparing its final submission to the U.S. Green Building Council and anticipates receiving a LEED rating. The development features many environmentally friendly design elements including: Hardi siding, an Energy Recovery Ventilation system, Buderus radiator units, Certainteed 50 year roof shingles, spray foam insulation and Marvin Integrity fiberglass windows.
The general contractor was Landmark Structures, the project architect was Winslow Architects, and the civil engineer was Bill Bergeron from Hayes Engineering.
While other affordable home-ownership units have been developed in Newton, this is the largest for-sale development to be exclusively deed restricted with four units priced for families earning up to 100% of Area Median Income (AMI) and six units priced for families earning up to 80% of AMI.
Parkview Homes is a Chapter 40B development permitted under the Local Initiative Program through the Mass. Department of Housing and Community Development. The project received its final permits from the city of Newton in the winter of 2010 and the total construction period lasted 13 months.
Parkview Homes was financed with a combination of HOME, CDBG, and CPA funds as well as private debt provided by the Village Bank. Parkview Homes LLC principals are Robert, Geoffrey and Brian Engler from the firm SEB, LLC. SEB, LLC has permitted over 9,000 units of affordable housing under Chapter 40B in Mass. SEB, LLC also served as the lottery agent for this development.
Newton mayor Setti Warren spoke at the grand opening and applauded the development as a "perfect example" of a successful public/private partnership that created exceptional home ownership opportunities for working families that might otherwise be priced out of the Newton market.