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**Hudson Valley Property Group Expands Affordable Housing Platform into Boston**
Hudson Valley Property Group (HVPG), a leading national affordable housing preservation company, has acquired two adjacent affordable housing properties in Boston’s Dorchester neighborhood. The properties, known as Boston Bay and Hope Bay, consist of 133 family units and mark HVPG’s official entry into the Massachusetts affordable housing market, further expanding its reach across New England.
Located at 205 Magnolia Street (Boston Bay) and 5 Norwell Street (Hope Bay), the properties span 20 buildings across two scattered sites. Originally built between 1890 and 1920, the historic sites are undergoing a new chapter of investment and preservation. The total project cost is approximately $52.5 million and is being financed through a Fannie Mae loan provided by KeyBank.
“We are proud to bring HVPG’s preservation platform to Boston and Massachusetts,” said Jason Bordainick, co-founder and managing partner of HVPG. “Boston Bay and Hope Bay represent an opportunity to preserve critical affordable housing in one of the nation’s most supply-constrained markets.”
SVN Affordable | Levental Realty served as the exclusive listing broker for the seller. The deal was led by Jamie Renzenbrink and Gene Levental on behalf of the firm.
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