The Fairmount Collaborative is a coalition led by three Boston CDCs: Codman Square Neighborhood Development Corporation, Dorchester Bay Economic Development Corporation, and Southwest Boston Community Development Corporation. The CDCs have joined forces to focus their efforts on developing strong, vibrant and diverse communities along the new extension of the Fairmount/Indigo line.
The four new stations at Four Corners, Talbot Ave, Newmarket, Cummins Highway, and future stops planned for Columbia Road and River Street, will provide equitable access to public transportation for more than 90,000 people that live within walking distance of the Fairmount line. The communities along the Fairmount line use public transit four times more than the regional average, and have been disproportionately impacted by the foreclosure crisis. In 2008-09, between 65-70% of all foreclosures in Boston took place in the service areas of the Fairmount Collaborative, increasing the need for continued access to affordable housing for low income families. Gail Latimore, Executive Director of the Codman Square NDC recently stated, "Our transit equity and transit-oriented real estate development will have significant economic impact on our communities. The community stabilizing factor of the Fairmount line is enormous."
With the support of LISC Boston, the Fairmount Collaborative has set the following goals:
- Transit equity for their communities through the new additional stations and rapid transit service.
- Joint planning for smart growth and transit-oriented development, targeted specifically at low income populations.
- Preventing the displacement of current residents by maximizing housing affordability and increasing access to employment.
- Strong civic engagement before, during and after development projects in every neighborhood.
Increasing green, open space for residents to enjoy along the Fairmount Greenway, and providing new access to parks, playgrounds and the Neponset River.
LISC Boston Investments
- $185,000 in grants
- $1,865,000 in loans and recoverable grants
$1,750,000 in lines of credit for pre-development and acquisition financing to support 260 transit-oriented affordable homes and 45,000 square footage of commercial space
LISC Boston has worked to support this collaboration and encourages community-driven, equitable, transit-oriented development.