The 414 Main Street Redevelopment Project is located in
the heart of Woburn Square, along the western side of Main Street just north
of the Woburn Common. The current owner, Mr. Sonny Shami-Noori, purchased the
building in November, 2000, with the intent to convert the second floor
office space to residential use, while retaining the retail use on the first
In April, 2003, the City of Woburn submitted an application,
prepared by the WRA, to the
Department of Housing and Community Development, Housing Development Support
Program, requesting $380,000, to support the creation of three
one-bedroom residential units on the second floor of the building. This grant
was awarded in July, 2003.
All three units will remain affordable to low and moderate
income households for a term of fifteen years, as required by the CDBG HDSP
guidelines. Without the HDSP assistance, the conversion is not feasible. The
rent established for all units will be the level which is affordable to a
household with a total income equal to 65 percent of the median income of the
metropolitan area. For a one-bedroom unit in the Boston area, that level is
currently $965 per month. As the tenants will be responsible for heat, gas
and electric utilities, the adjusted rent level is currently $860 per month.
The overall footprint of 408-416 Main Street is
approximately 1,900 square feet. The upper portion of the brick façade still
retains the original historic character of the building, which appears to
date from the late 19th Century. The first floor retail storefronts have been
substantially altered, however. The owner has committed an additional sum to
underwrite the reconstruction of a historically appropriate retail façade;
this work will be done as a separate project, after the residential
conversion has been completed.
The HDSP grant will only be used to support the
residential rehabilitation. The total project cost is $752,300, including the
owner’s substantial acquisition investment and his commitment of additional
equity for the storefront improvements.
In January, 2004, the project was put for our public bid,
and the construction contract awarded to Orion Building Group, Inc., of North
Reading, Massachusetts. Construction began in July, 2004, and is scheduled
to be complete by December, 2004.