October 31, 2024
Construction has begun on a 91-unit affordable family housing project on Columbia Road in Uphams Corner, according to Affordable Housing and Services Collaborative, Inc. (AHSC), which purchased the site recently.
The preservation/rehabilitation project, known as Columbia-Uphams, consists of two buildings, Columbia West Apartments and Uphams Corner Apartments, that are being combined into a single project, which, when completed, will contain the rehabilitated units ranging in size from studios to three-bedrooms.
AHSC first acquired the ownership interest of Uphams Corner Apartments, a 45-unit building, in 2018, followed in 2020 by ownership interest in the 46-unit Columbia West Apartments. The collaborative and its longtime strategic partner, Peabody Properties, recently sought financing to combine ownership and rehabilitate the buildings.
AHSC closed on the combined properties on Sept. 27, paying $8.2 million for 392 Columbia Rd. (Columbia West), and $7.86 million for 612-618 Columbia Rd. (Uphams Corner Apartments).
The project is scheduled to be completed by June of 2025, when Peabody Properties will manage the housing development.