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.
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.
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.
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.
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!