FOR IMMEDIATE RELEASE  

March 19, 2026 

CONTACT:
Diana Pisciotta  (Mark/Samuels)
dpisciotta@denterlein.com

Marisa Naughton (Beacon Communities) 
press@beaconcommunitiesllc.com

Construction Begins on 299 Broadway  

Transformative housing development in Somerville will bring affordable housing, exciting retail, and new public spaces to Winter Hill. 

Somerville, MA – Beacon Communities, Rise Together, Mark Development, and Samuels & Associates announced the start of construction at 299 Broadway/15 Temple Street, a long-anticipated mixed-income housing community in Somerville’s historic Winter Hill neighborhood. Initial construction activities are focused on site preparation and infrastructure, with a formal groundbreaking expected in the spring. 

Once complete, the development will revive a long-vacant site by introducing 319 new rental homes, 136 of which will be affordable, along with neighborhood-serving retail, a new public plaza, a playground, mobility enhancements, and sustainability features aligned with the Winter Hill Neighborhood Plan. The project builds on years of community engagement and represents a major public–private partnership between the City of Somerville, Commonwealth of Massachusetts, and developers designed to expand housing access at a time when housing availability is central to both economic resiliency and community well-being. 

The project is being advanced by a unique partnership between Mark Development, Beacon Communities, Rise Together, and Samuels & Associates and reflects extensive collaboration with the City of Somerville to develop a project that meets community needs and key priorities for the City of Somerville, including creating affordable housing, enhancing public spaces, and revitalizing underutilized land.   

“For more than a decade, Somerville has envisioned a redevelopment of this significant site that brings new housing, public amenities, and benefits,” said Dara Kovel, CEO, Beacon Communities. “We’re grateful for the creative thinking and investment by our partners and Somerville officials – from former Mayor Ballantyne and now Mayor Wilson to Councilor Clingan – to move this transformative project into construction. By building this partnership that breathes new life into a long-vacant site, we are not only strengthening this neighborhood but also creating a new model for increasing much-needed affordable housing stock in communities across the state.” 

The development’s two mixed-use buildings will both include ground-floor retail, community gathering areas, and new public open space, including a plaza and a neighborhood pocket park.  

15 Temple, developed by Beacon and Rise, will create 115 deeply affordable apartments in a six-story building totaling 152,696 square feet. Managed by Beacon Residential Management, the building will feature a mix of one-, two-, and three-bedroom apartments, with 99 units at or below 60% AMI and 16 units affordable at or below 30% AMI supported by MRVPs and project-based vouchers. 

299 Somerville, developed by Samuels & Associates and Mark Development, will create 204 apartments in a six-story building totaling 1930,000 square feet with ground floor amenities including a fitness center and ample bike parking.  The building will include a mix of one-, two-, and three-bedroom apartments and 21 of the units will be affordable at 80% of AMI. 

The design of both buildings prioritizes sustainability and accessibility, featuring a fully electric residential program, Passive House and LEED Gold design, and a car-free model supported by proximity to the new Gilman Square Green Line T stop and 1:1 bike-to-unit ratios. 

“This project reflects what the community asked for from the very beginning,” said Robert Korff, CEO of Mark Development. “The commitments to an unprecedented 40% affordability, open space, and sustainable design were shaped by local voices. It is only through the sustained commitment of both our joint project team and the city that we are in a position to move forward with a project that responds directly to those priorities at a time when expanding access to housing is essential.” 

“As a former resident of Somerville and a recipient of affordable housing, the start of this project is deeply personal for me,” said Herby Duverné, CEO of Rise Together, LLC. “I know how critical safe, affordable housing is to individuals and families working to build stability. I’m proud to be part of a team that approaches this work with care, responsibility, and respect for the people this project is meant to serve.” 

The redevelopment is supported by a combination of public and private resources. For 15 Temple, Hudson Housing Capital is the project’s syndicator with construction financing and investment provided by Capital One. Additional funding sources include federal and state Low-Income Housing Tax Credits (LIHTC), Massachusetts state subsidies, and City of Somerville Affordable Housing Trust.  The City of Somerville also approved Tax Increment Financing to support the long-term viability of the development. MassHousing is providing first mortgage financing. 

For the 299 Broadway portion of the development, Safehold Inc. provided a ground lease and construction loan, supporting the project’s capital structure and long-term financial stability. Safehold’s participation enables Samuels & Associates and Mark Development to advance a complex, transit-oriented housing development while preserving flexibility to deliver mixed-income housing, neighborhood-serving retail, and public amenities consistent with the City of Somerville’s goals. 

“The Healey-Driscoll Administration was proud to support the transformation of this vacant property into more than 300 new apartments,” said Ed Augustus, Secretary of Housing and Livable Communities. “Massachusetts needs more housing, and thanks to this project hundreds of Somerville residents will soon have access to new, affordable and transit-oriented apartments to call home.” 

“Winter Hill has been stuck looking at the old, vacant Star Market site for far too long,” said Mayor Wilson. “Breaking ground at 299 Broadway means turning a long-promised plan into real homes, real affordability, much-needed retail and restaurant spaces, and public space people can actually use—with an affordability commitment that’s more than double City requirements. I want to thank Beacon Communities and the full development team, along with City staff and community partners, my predecessor Katjana Ballantyne, and the Healey-Driscoll administration, for the collaboration and hard work to get us to this moment.” 

“Tackling the affordable housing crisis has been a priority of mine for nearly 30 years and requires the use of every tool in our toolbox,” said Katjana Ballantyne, former mayor of Somerville. “I am proud to have advanced this project after 18 years of gridlock: introducing a historic financing tool and inviting all to a seat at the table; community, property owner and developers to tackle this project, and we succeeded! Congratulations to all!” 

“The 299 Broadway project is exactly the kind of thoughtful, community led development Somerville needs,” said Jesse Clignan, Ward Four City Councilor in Somerville. “It will transform a long vacant site while delivering much needed housing, with an extraordinary commitment to affordability, nearly 50% of units designated as inclusionary. This is a major win for our community. Given that the abandoned Star Market has been the number one issue raised by residents over the years, I’m proud to have played a role in bringing this important project to Ward 4 and the City of Somerville.” 

“MassHousing is excited for the residents who will have the opportunity to live in brand new, deeply affordable apartments homes in Somerville,” said Chrystal Kornegay, CEO,  MassHousing.“We are pleased to be a partner in this transformative project that will turn a long vacant, blighted commercial site, into a vibrant new housing community that will serve the Winter Hill neighborhood for many years into the future.” 

15 Temple is expected to welcome residents in late 2027 and 299 Broadway is expected to be complete in early 2028. 

###

About Beacon Communities LLC 

Beacon Communities LLC is a privately owned real estate firm that develops, acquires, invests in, and manages a wide range of multi-family housing. Their portfolio includes affordable housing, market-rate housing, and mixed income-housing. Their developments range from new construction to historic adaptive reuse to the renovation of existing housing. They take on challenging developments and make them succeed. Their driving passion is to create well-designed, healthy homes that enhance the neighborhoods in which they are located. For more information about Beacon Communities LLC, please visit www.beaconcommunitiesllc.com.   

About RISE Together

RISE Together is a real estate investment and development platform dedicated to delivering transformative projects that drive economic growth and community impact. The firm partners with leading developers, municipalities, and institutional stakeholders to create high-quality housing and mixed-use developments, with a focus on expanding access to affordable and workforce housing. By combining disciplined investment strategies with a commitment to inclusive development, RISE Together delivers projects that create long-term value for both investors and the communities they serve. 

About Mark Development 

Mark Development is focused on creating dynamic communities via thoughtful development. Rooted in a long history of retail-anchored projects, Mark Development is building on years of experience to create mixed-use communities that combine housing, retail, office and community uses to create a sense of place. That talented and nimble team brings a distinct vision to every project and relies on creativity to turn challenges into opportunities. 

About Samuels & Associates 

Samuels & Associates specializes in fostering communities that inspire people to love where they are. We are stewards of the built environment and caretakers of our community’s vision, driven to create welcoming and inclusive spaces in Boston and beyond. Widely recognized for our effectiveness at placemaking and integrated open spaces, Samuels & Associates has achieved success in mixed-use development, leasing, and management over the past three decades. Active pedestrian environments, curated retail and restaurant storefronts, amenity-rich housing options, and creative life science and commercial spaces are hallmarks of Samuels developments. Learn more at www.samuelsre.com.