Allston, MA The Hamilton Company’s goal of transforming Allston into a more affordable “New Boston” took another major step forward with the start of construction of 40 units of moderately-priced “workforce” housing at 79-83 Gardner St. in Packard’s Crossing.

At a groundbreaking ceremony attended by city and state officials, The Hamilton Co. officially kicked off its plans to restore and integrate the Victorian-era home at 83 Gardner St. with a newly constructed, 4-story residential building encompassing 47,736 s/f, 40 residential units and covered parking for 40 vehicles.

The renovated Victorian home will serve as the lobby for the newly-integrated structure and retain one 1-bedroom apartment and two 2-bedroom apartments. All of the apartments in the newly-constructed building will have 2 bedrooms, 2 baths and individual laundry rooms. Monthly rents will average 25-35% below the rents in the Back Bay, downtown and Seaport district.

By restoring 83 Gardner St., The Hamilton Co. is preserving one of the last remaining free-standing Victorian-era houses in the Packard’s Crossing area. These houses, once known as “Mahogany Row,” lined Gardner St. and housed prominent 19th century families who worked in the lumber industry.

Harold Brown, chairman of The Hamilton Co., said, “Our goal is to create a ‘New Boston,’ a more affordable place where individuals, families and businesses can live, work, study, be entertained and join a health spa, with access to parking and the MBTA, but without the higher rents associated with other, more pricey sections of the city.”

Brown noted that because Hamilton has owned the parcels for many years, the company can subsidize the land costs by as much as 75% and pass the savings along to its renters.

In addition to Brown, those attending the groundbreaking were Boston Planning And Development Agency (BPDA) director Brian Golden; Paul Berkeley, president of the Allston-Brighton Civic Association; state rep. Kevin Honan; Boston city councilor Mark Ciommo; and architect David Hacin of Hacin & Associates.

Carl Valeri, president of The Hamilton Co., said that Hamilton is investing “in excess of” $100 million in the area that extends from Packard’s Crossing to Harvard Ave. with Commonwealth and Brighton Aves. as the main connectors. Construction of 79-83 Gardner St., at a cost of $20 million, is phase 2 of the company’s three phase plan.

Valeri noted that earlier this year, Hamilton completed phase 1: Construction of an $18 million, 6-story, 48-unit apartment building at 40 Malvern St., a former parking lot Hamilton owned and operated.

In phase 3, scheduled for late next year, Hamilton is planning a $60-$70 million, 99,700 s/f mixed-use development at 45-55 Brighton Ave., site of the existing Auto Zone and adjacent parking lot. The development will consistent of 175 more units of “workforce” housing and some commercial space.

With its headquarters at 39 Brighton Ave., The Hamilton Co. currently owns 24 buildings in the area, containing just shy of 1,000 residential units and more than 300,000 s/f of commercial space.

Jameson Brown, Hamilton Co.’s vice president of development, said, “These three new projects (40 Malvern St., 79-83 Gardner St. and 45-55 Brighton Ave.) represent an exciting time for Allston, as we are creating a new gateway to the community and providing close to 200 moderately-priced apartments at a time when they are sorely-needed in the city.”

Golden, a native of Allston, said the development of 79-83 Garner St. and the Hamilton Co.’s extensive re-investments in the Packard’s Crossing area represent much-needed, moderately-priced housing and are consistent with Boston mayor Walsh’s goal of creating 53,000 new units of “workforce” housing by 2030.

State rep. Honan (D-Allston) noted that the housing shortage in Greater Boston has made setting roots in Allston-Brighton more difficult for young families and individuals. “The mayor’s push for more ‘workforce’ housing has resulted in projects like Gardner St. that will provide much-needed opportunities for middle-income residents. Moreover, this project is a wonderful opportunity to integrate the history of the neighborhood with the future of Allston. I look forward to watching the progress of this project and celebrating its success.”

Ciommo said, “The re-development of 79-83 Gardner St. into ‘workforce’ housing represents a critical investment in District 9, and helps to provide needed diversity to the available housing stock.”

Founded by Harold Brown in 1954, The Hamilton Co. and its closely-held, publicly-traded New England Realty Associates (NERA), has amassed more than $2.2 billion in residential and commercial assets in the Greater Boston area. 

Just last month, NERA and The Hamilton Company announced the acquisition of Woodland Park, a 126-unit apartment complex in Newton, at a cost of $45 million.

Harold Brown, who frequently gives lectures on real estate trends and investments, is also founder of The Hamilton Company Charitable Foundation, of which Ronald Brown is Chairman and Jameson Brown is a Board member. The Foundation allocates millions of dollars annually to local non-profit neighborhood groups, charities and associations.

Project team included: 

• Developer: The Hamilton Company
• Construction Manager: Hamilton Construction Management Corp.
• Architect: Hacin + Associates
• Civil Engineer: Howard Stein Hudson
• MEP / FP Engineers: RDK Engineers
• Legal Counsel: Rubin and Rudman LLP