The Neighborhood Developers (TND), a Chelsea-based nonprofit community development corporation, has one of its biggest projects rising just over the city line in Everett. It's a close-up look at what a hometown nonprofit is building next door.

Everett Mayor Robert Van Campen and other city officials toured construction at 25 Garvey Street, where TND is building 125 homes, the Everett Independent reported Oct. 7. The paper called it TND's largest new construction project. All of the apartments are affordable rentals except a single manager's unit, according to state financing records.

What's being built

The development sits on the site of the former Colonial Marble Company, in Everett's Commercial Triangle Economic Development District. It's the first new affordable family rental housing in Everett in more than 50 years, the Independent reported when construction financing closed in 2025. The site is also along the proposed Silver Line extension.

The plans call for a six-story residential building with a 78-car podium garage, according to High-Profile, which covered the selection of Callahan Construction Managers to oversee the build.

Inside, there will be community rooms, an on-site management office, bike storage and a package delivery area. Outside, a courtyard will have a children's play space, a barbecue area, seating and vegetable planters.

Who the homes are for

Of the 125 apartments, 107 are for households earning up to 60% of area median income and 17 are for households earning up to 30%. One is a manager's unit. That's according to MassDevelopment, the state agency that issued the project's bond.

The Independent's 2025 report said 17 of the homes are deeply affordable and reserved for families who have experienced homelessness or are at risk of losing their housing.

How it's being paid for

TND is developing the project with Impact Residential Development. MassDevelopment issued a $34.3 million tax-exempt bond, which First Citizens Bank bought with participation from Eastern Bank. After construction, the Massachusetts Housing Partnership and Eastern Bank are set to provide long-term financing. Federal low-income housing tax credits add about $21.9 million in equity.

Former Everett Mayor Carlo DeMaria, who was in office when the financing was announced, called affordable housing "more than a policy goal; it's a moral obligation." TND Executive Director Rafael Mares said the project offers stability and opportunity for 125 families.

Not TND's first Everett project

In 2021, MassDevelopment issued a bond for TND's 33-unit St. Therese senior housing in Everett.

What to watch

Financing reports from 2025 put completion in May 2027. The October tour coverage didn't give an updated schedule.

None of the coverage says how or when people can apply for the homes. If you're interested, watch for updates from TND and the City of Everett.