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414 Main Street Redevelopment
image002The 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 floor.

In April, 2003, the City of Woburn submitted an application, prepared by the WRA, to the Massachusetts 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.

Affordable Units
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.