Urban Strategy Fund : A new Boston Real Estate Fund


Property Type:

396,750 SF Mixed Use Residential Development on a 57,000 SF infill, urban site featuring


362 residential units including

~ 217 market-rate


~ 95 affordable rentals

~ 50 affordable


40% affordable overall


~ 3,555 SF ground-floor commercial space

~ 5,050 SF interior community


~ 13,275 SF central open space that provides new pedestrian connection between Hudson and Kneeland streets 

~ 135 parking spaces

Landscaped sidewalks 


Investment Strategy:

Development in partnership with the Asian Community Development Corporation (ACDC)





One Greenway (Parcel 24)

Boston, MA

Before it was taken for highway construction in 1962, One Greenway (Parcel 24) was a diverse and vibrant residential community that was home to a wide array of ethnic groups and immigrants, including Chinese and Syrian families, as well as local shops and services in Boston's Chinatown Neighborhood. 


In 2000, the Asian Community Development Corporation (ACDC) led a comprehensive neighborhood effort to have the site returned to the community. New Boston and ACDC formed Parcel 24, LLC, and won the designation from the Massachusetts Turnpike Authority (MTA) in April 2006.

The project will include predominantly market rate and affordable rental units. The environmentally friendly, Smart Growth development will replace underutilized land with much needed housing, terraced open space, ground-floor commercial services, interior community space, landscaped sidewalks, and a vibrant street life.


One Greenway is a major milestone in ACDC’s mission to improve the quality of life for Asian Americans and the communities in which they live. This development will restore both sides of Hudson Street to active community use.


One Greenway will be one of few mixed-income developments built on the infrastructure of the new $15 billion I-90/I-93 Central Artery project in Boston.

The project will also create approximately 700 construction jobs and up to 40 permanent jobs in retail, community organizations and property management.



  Current Investments

545 Long Wharf


777 Brook Street


East Hartford Portfolio


Gates of West Bay


Harris Corners I - III


Lofts 881


Maitland Green I & II


Olmsted Green


One Greenway (Parcel 24)


The Schoolhouse


Seaside at 38 Hope Street


The Shops at Quonset


Southpoint Executive Center


Waterbury Senior Housing


Winooski Falls




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