Historic Boston Inc.’s Trilogy Fund Tops Off Over $1 Million

Historic Boston Inc.’s Trilogy Fund Tops Off Over $1 Million

Makes Hayden Building, Kittredge House, Vertullo Building Projects Possible

 

ROXBURY, MA, April 14, 2104 – Historic Boston Inc., the nonprofit preservation and real estate group that energizes the economies of neighborhoods by redeveloping historically significant properties, has reached — and surpassed — the $1 million capital campaign that was the goal of the Trilogy Fund for Historic Boston.

The Trilogy Fund was Historic Boston’s first major capital campaign and made possible the rehabilitation of three varied and important historic buildings in diverse neighborhoods of the City of Boston: the Hayden Building in Chinatown, the Kittredge House in Roxbury, and the Vertullo Building in Hyde Park.

The Trilogy Fund campaign, launched in June 2012 at the start of reconstruction on the Hayden Building apartments in Chinatown, was chaired by then-Mayor Thomas M. Menino and developer and philanthropist Ronald M. Druker.

“For HBI, completion of the Trilogy Fund’s projects is a harbinger of what’s to come.” said HBI Executive Director Kathy Kottaridis. “HBI has grown its capacity to bring distressed historic buildings back in the life of their communities, and we have engaged many new partners and friends in that goal. Success in the Trilogy Fund shows that we’re ready for more.”

The Trilogy Fund’s success generated 126 new donors to HBI’s projects and enabled HBI to increase the volume of preservation work in its pipeline of historic buildings needing attention. Over the next few months, HBI will hold celebrations to dedicate the completed projects and honor donors to the Trilogy Fund.

HBI celebrated the opening of the Hayden Building in 2013 with a festive celebration on site. A June celebration is being planned for the Kittredge House’s opening, and HBI will dedicate the newly restored storefronts of the Vertullo Building this spring.

“We are grateful for the support of so many generous and committed donors to the Trilogy Fund,” said Matthew Kiefer, Chairman of HBI’s Board of Directors. “They recognize the value of rehabilitating historic buildings so that they can house people, support business growth, and express the rich character of Boston’s neighborhoods.”

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Ms. Kottaridis said that Historic Boston Inc. is grateful for the extraordinary support of all of the donors to The Trilogy Fund:

Those at the Pediment Level, contributing $50,000 or more, include Ronald M. and Julie R. Druker and the Millicent C. Starr Charitable Foundation; the 1772 Foundation; the Boston Redevelopment Authority; the George B. Henderson Foundation, Alan and Sherry Leventhal, the Muriel and Norman B. Leventhal Family Foundation, Inc.; the Lewis Family Foundation; Barbara and Amos Hostetter, the Winn Companies, and the Lynch Foundation; and the City of Boston Department of Neighborhood Development.

Contributors at the Cornice Level, giving $25,000 to $49,000, include Geoffrey Caraboolad; the Eastern Bank Charitable Foundation; New England Development; Metric Construction Corporation; and Scott Jenkins.

Those at the Capital Level, contributing $10,000 to $24,999, include Marc Truant and Associates; Edward Lawrence, Millennium Partners; and John E. Drew and the Drew Company, Inc.

Those at the Column Level, contributing $5,000 to $9,999, include Matthew Kiefer; Kathy MacNeil; Roger Berkowitz; Alex Krieger; Paul McDonough; Carolyn Osteen; Turner Construction Co.; and the John W. Henry Family Foundation.

Those at the Cornerstone Level, contributing $2,500 to $4,999, include Henry Moss; Drew Leff; Andrea and David Gilmore; Carolyn Osteen; Boston Properties; Robert Verrier; Ann Beha and Robert Radloff; A.W. Perry, Inc.; Emily Axelrod; and Shawmut Design and Construction.

Those at the Framer Level, contributing $1,000 to $2,499, include Lynne Spencer; David Rockwell; Susan Silberberg; Tod McGrath; ADD Inc.; The Boston Foundation; Stephen B. Kay; Kevin Phelan; Chrystal Kornegay; Joseph Fallon; Clayton Turnbull; and Cresset Management.

Many other contributions – from $5 up – contributed to making the completion of these three projects possible. The projects made possible by the Trilogy Fund are:

  • The long-vacant Hayden Building at 681 Washington St. in Chinatown, which was transformed into four handsome market-rate residential units and one commercial retail space. Built in 1875, the Hayden Building is the only commercial building designed by Henry Hobson Richardson remaining in Boston. Revenue from this project will support HBI’s overhead and operations. Total development cost was $5.8 million.
  • The Alvah Kittredge House at 10 Linwood St. in Roxbury, a rare high-style Greek Revival period building that was empty for 20 years and seriously distressed. It is now 60 percent through construction and is scheduled for occupancy in June as five apartments, two of which will be designated as affordable housing. It is scheduled for May completion. Cost is $3.8 million.
  • The Vertullo Building, on Fairmount Avenue in Hyde Park’s Cleary Square, an 1868 mixed-use structure with five small business spaces and four residential units. It is in the Main Streets district and is a rare surviving structure from the period in which Hyde Park was founded as a town. The building is undergoing restoration as part of HBI’s Historic Neighborhood Centers program and one of Historic Boston’s primary mission, supporting commercial district revitalization and foster economic development with the tools of preservation and real estate development. It is being completed this month and is ready for commercial occupancy. Cost is $1.9 million.

In addition The Trilogy Fund, Historic Boston raised $220,000 for these three projects.

Contributions to The Trilogy Fund are still welcome. Historic Boston is grateful for donations, which can be made at www.historicboston.org.

ABOUT HISTORIC BOSTON INC.
Historic Boston Incorporated is a nonprofit preservation and real estate organization that rehabilitates historic and culturally significant properties in Boston’s neighborhoods so they are a useable part of the city’s present and future. HBI works with local partners to identify and invest in historic buildings and cultural resources whose re-use will catalyze neighborhood renewal. HBI acquires and redevelops historic structures and provides technical expertise, planning services and financing for rehabilitation projects. HBI projects demonstrate that preserving historic properties is economically viable and that they can be useable and functioning assets in a community. For more information, please see www.historicboston.org.

For more information, please contact:
Kathy Kottaridis, Executive Director of Historic Boston, Inc., 617.442.1859, kathy@historicboston.org
Or
Tom Palmer, Tom Palmer Communication, 617.755.7250, tompalmer@rcn.com

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