City officials on Thursday confirmed that Corcoran Jennison Associates has been chosen to redevelop the Boston Housing Authority’s massive public housing complex in Charlestown.
The Boston-based affordable housing developer will partner with SunCal, of Irvine, Calif., to turn Boston’s largest low-income housing development into an even larger mixed-income neighborhood, with at least 2,400 apartments on 24 acres on the north side of Charlestown.
It is the first of several deals that the Housing Authority is planning with private developers, offering them the right to build market-rate housing on public sites in exchange for rebuilding the low-income units.
“In order to meet the housing needs of all of our residents, we must think creatively to preserve our existing affordable housing stock,” Mayor Martin J. Walsh said in a statement. “I thank the Corcoran team for understanding that mission and look forward to what the future holds for this development.”
Corcoran and SunCal beat out three other affordable housing developers for the job. They will now start a series of community meetings on design and other details. Officials at Corcoran did not respond to a message seeking comment Thursday afternoon.
Corcoran is perhaps best known in Boston for redeveloping the old Columbia Point project on Dorchester Bay into a mixed-income complex now known as Harbor Point.
Corcoran and SunCal will have two years to finance the Charlestown project and four years to finish construction of the first phrase, in which the team proposes 820 units. The entire project would be done in three phases.
The developers had proposed 960 “deeply subsidized affordable” apartments to replace the existing 1,100 units in the Charlestown project. But the Housing Authority is requiring them to replace all 1,100 and in exchange will allow for greater density than the initial 2,400-unit proposal.