Walden House

As part of The Neighborhood Developers’ expansion into Revere, Walden House is a dramatic renovation of a historically significant, vacant former fire station that TND acquired from the city of Revere in 2010. The building has been redeveloped into seven apartments and a community room, and its historic façade and details have been preserved. The apartments have one or two bedrooms, reserved for households with at least one member who is at least 55 years old, and are available to those earning under either 60 percent or 50 percent of the area median income. Walden House is adjacent to 14-16 Nahant Ave., another property recently redeveloped by TND, and is located in the Shirley Avenue neighborhood, a residential and commercial district where TND is concentrating its investment in Revere. The MBTA Blue Line, local shopping and Revere Beach, the country’s first public beach, are all within walking distance.

Date Completed 40909
Total Development Cost $2.36 million
Development Type Historic renovation
Number of Units 7 apts, for households with at least one person 55 or older
Affordability At or below 60 and 50 percent AMI
Developer/Sponsor The Neighborhood Developers
Development Consultants David Koven and Peter Munkenbeck
Owner Revere Neighborhood Developers LLC
Architect ICON architecture, inc.
Contractor Northeast Interiors Inc.
Equity Investment Dorfman Capital and Apple Inc., historic tax credits NeighborWorks America
Lenders North Suburban Consortium, HOME FundsMHIC, Neighborhood Stabilization Program Massachusetts Affordable Housing Trust Fund City of Revere, CDBG Funds
Construction Loan MHIC, Neighborhood Stabilization Loan Fun