“Share the Love and Keep the Fenway Affordable!”
Taken by LT
I used to rent units from this apartment (151 Tremont St.). They are extremely expensive. The units are alright yet small but has an awesome view of the Commons.
Anyways, this isn’t a protest on 151 Tremont but on Burbank Apartments. The owners, William and Robert Kargman, want to opt out of the project-based Section 8 program which covers about 40% of the development’s apartments. Additionally, the owners’ mortgage, which contains restrictions imposed by HUD, will expire this spring. HUD provided the owners with the subsidized mortgage 40 years ago so that the apartments could be offered as affordable housing. The Fenway neighborhood may soon lose 173 affordable homes nearly 10% of the subsidized housing in the neighborhood beginning on April 1, 2011. The owners of one development, Burbank Apartments, have announced that they will end the development’s decades-long affordability.