56 Harbor Place Apartments Designated Affordable For 51 Years

Eighty apartments are currently under construction as part of Harbor Place, Merrimack Street. (WHAV photograph.)

See sidebar: Dellbrook Construction Chief Beneficiary of State’s Harbor Place Spending.

More than half of the Merrimack Street apartments, being constructed as part of Harbor Place, must remain “affordable” for more than 51 years, according to financing documents.

A total of 80 apartments are covered under two state Affordable Housing Restrictions filed with Southern Essex District Registry of Deeds, Salem.

Of the 50 units covered by a state Affordable Housing Restriction at 44 Merrimack St.—called the “Merrimack Project,” 40 are designated as low-income units, eight “extremely low income” and two “very low income.” Low-income units are reserved for those households earning 60 percent or less of the area median income (AMI); low-income, 50 percent or less AMI; and extremely low income, 30 percent or less AMI. Haverhill’s 2015 AMI for a family of four is $98,500.

Six of 30 units, covered under a second restriction, at 20-44 Merrimack St.—called the “Riverfront Project,” will be reserved for high- and moderate-income households, earning between 80 and 110 percent of AMI. Apartments range from one to three bedrooms with at least two units reserved for people with mobility impairments and one for people with sensory impairments, according to documents. Deed restrictions were signed by Lisa B. Alberghini, president of the archdiocese’s Public Office of Urban Affairs, Boston, and Paul M. Accardi, listed as manager of GHF (Greater Haverhill Foundation) Merrimack Street LLC, Haverhill. According to a filing with the Massachusetts Secretary of State’s office, other managers of GHF Merrimack Street are Ronald G. Trombley and Kenneth J. Cavallaro.

The Merrimack and Riverside Projects, along with the adjacent commercial building, represent three condominiums at the site.

The Massachusetts Housing Partnership—a quasi-public agency—will hold a $5.2 million first mortgage on 30 units of the Merrimack Street property, according to the partnership’s Project Portfolio listing. Other lenders include Massachusetts Department of Housing and Community Development and Peabody-based North Shore Home Consortium. Other loans include $30.7 million from Bank of America. The project also received a $19 million grant for site preparation and assembly under the state MassWorks program.

6 thoughts on “56 Harbor Place Apartments Designated Affordable For 51 Years

  1. Seriously disgusting! The school system can not handle the children they already have. There are approximately 200 more students this year than there was last year. The schools can not accommodate any more children!

  2. Do the math Haverhill taxpayers. 80 units with 2 children each in the Haverhill School system. 160 new students ….almost 6 new classrooms and 6 new teachers and dont forget the support staff….busses etc.
    At 15K a student that adding another 2.4 million dollars to the school budget.
    Keep discouraging businesses from coming to Haverhill….businesses dont burden the school, fire and police budgets.
    Good luck residential taxpayers your gonna need it.

  3. Uhhhh the little secret comes out finally. People laughed when other suggested this would be a low income housing project. Now we know why the Archdiocese is involved and also why there was so much state money invested. Duncan, please give us the specifics once again ? Tell me again where they are going to put all the traffic again ? And how is the school dept. going to budget for these kids coming in to the system ? Does anyone think of these things ? .

    • Been writing about this for a long time – see other thread.

      Not enough people care in this city or this state, maybe even this country. It’s crony capitalism and “pay-to-play” to legally loot The People. I do not know what it will take for The People to revolt at this point, as they appear to enjoy the cake being served by members of our own government.

    • Jack, I learned this weekend that people who rent an apartment at River’s Edge just across the street from Harbor Place are not guaranteed a parking spot. Many of the residents there park across the street in the Central Plaza parking lot. But that will soon come to an end with winter coming, because the owners of the lot, Market Basket Corporation, don’t want all the cars there for snow removal purposes. So where are all these people going to park their car? When did you ever hear this little secret from anyone on the parking commission, or mayor Taxman?