C
apstone Communities LLC, Hope Real Estate Enterprises, and MPZ Development have partnered with the City of Cambridge Affordable Housing Trust to acquire six properties in Cambridge: 20 Roseland St., 22 Roseland St., 28 Roseland St., 1 Frost St., 3 Frost St., and 5 Frost St. The approximately one-acre parcel will be dedicated to new affordable housing, adjacent to Capstone's existing 100% affordable development, Frost Terrace.

    The acquisition underscores the success of Frost Terrace, a 40-unit affordable housing project that has remained fully occupied since its opening in 2021 with a waitlist. This highlights the demand for additional affordable housing in Cambridge. The partners will work closely with the City and local community to ensure a collaborative process, prioritizing robust community input and feedback.

    "We're committed to increasing high-quality affordable housing in Cambridge," said Jason Korb of Capstone. "We'll engage with the City and residents through a thorough community process." Sean Hope added, "As a lifelong Cantabrigian, I'm excited to further the affordable housing supply in Cambridge."

    The acquisition will help expand the city's affordable housing inventory, allowing long-time families and individuals to remain in Cambridge while presenting opportunities for new residents. The partners look forward to working with the community to shape how this acquisition expands affordable housing, building on the success of Frost Terrace.