EAST BOSTON NEIGHBORHOOD TRUST (EBNT)
Scattered throughout East Boston, MA
Residential: 114 units from high moderate to low income
Commercial: None
Owner: East Boston Neighborhood Trust
Property Management: Metro Management Company
Property Manager: Wansley Francois
Phone : (617) 567-7755 Fax : (617) 634-0004
The East Boston Neighborhood Trust (EBNT) was formed in order to reclaim local control of more real estate in East Boston, where we are seeing unprecedented displacement of our low and moderate income, immigrant community. The Trust consists of representatives from EBCDC, Inc, PUEBLO, City Life/Vida Urbana, the East Boston Social Centers, as well as renters from the community. The Trust oversees all aspects of the portfolio, from its capital needs to its leasing and operations.
By raising nearly $8 Million from private, socially-conscious investors, and with an additional $12 Million of subsidy funds awarded through the City of Boston’s Mayor’s Office of Housing, EBNT purchased 114 apartments in 2022. The apartments are mostly located in 3 family properties scattered throughout East Boston, and over 85% of the units are 2 bedrooms or larger. As part of the project, all 114 units are being de-leaded and many of the 36 properties’ exteriors are being repaired.
The properties were purchased 100% occupied, but as market rate tenants give their notice to vacate, the units will be filled from the EBNT waitlist, with income eligible households. All 114 of the units are restricted by the City of Boston’s Acquisition Opportunity Program, and the Boston Housing Authority has provided 28 City Project Based Vouchers to support the project.
20 units are restricted as high moderate income units at 100% AMI
26 units are restricted as moderate income units at 80% AMI
28 units are restricted as low income units at 0% AMI - 50% AMI
40 units are restricted as very low income units at 60% AMI
Those interested in leasing from EBNT should apply via the EBNT Rental Application, and submit it to Metro Management’s office. There is currently a waitlist for these units.
