The HYM Investment Group (HYM) is excited to announce that we have formed an historic partnership with My City at Peace (MyCAP), a violence-prevention and community-building organization led by Reverend Jeffrey Brown, to develop a long under-utilized parcel in Roxbury known as Parcel 3 (P3). Our P3 Roxbury Team is driven by Boston and Roxbury’s next generation of Black, Brown, and Woman entrepreneurs who are committed to creating generational wealth, good-paying jobs with long-term career opportunities, and affordable housing for families of color in the Nubian Square and Greater Roxbury area.
Our approach to affordable housing was developed in partnership with co-developer Madison Park Development Corporation and architect DREAM Collaborative and provides deeply affordable housing that will allow the existing Roxbury community to call our project home upon its completion. We will deliver 144 income-restricted condominiums and 164 affordable rental units. We will work with officials to ensure that our home ownership units are deed restricted for 15 years instead of the standard 20 to 40 years, providing 144 families the opportunity to own a home and establish the foundation to build generational wealth. We view these opportunities for homeownership as a meaningful way to address Boston’s Black Wealth Gap and build equity for communities of color.
Our proposal also includes approximately 700,000 square feet of life science space, which will not only unlock the potential to achieve our housing goals through a creative cross-subsidy, but also provide members of the local Roxbury community access to Boston’s booming life sciences industry with 2,400 good-paying jobs. LabCentral Ignite, an innovative biotechnology incubator, will lead training initiatives and outreach programs in concert with Benjamin Franklin Technical Institute, Madison Park Technical Vocational High School, Roxbury Community College, and other local educational institutions to ensure that local students and residents have the knowledge and skills they need to thrive in the life sciences.
Our team envisions P3 as a community hub and cultural destination for the Greater Roxbury area. Our partners at the OnyxGroup will draw upon their deep connections with the local Roxbury community to ensure that all of the development’s retail destinations authentically serve the local community’s needs, wants, and desires with a particular emphasis on elevating local, minority- or women-owned businesses and vendors. Our team has identified and reached an agreement with our first street-level tenant, King Boston, a Boston-based non-profit that honors the life and vision of Dr. Martin Luther King Jr. and Coretta Scott King. Our proposal reserves 31,000 SF that will become King Boston’s “Embrace Center” for culture and community. The space will feature a museum and policy center for King Boston that will be easily accessible to the Whittier Choice neighborhood and the greater Roxbury community.
To learn more about this exciting project and our partnerships please visit us at:
On Instagram: @p3roxbury
On Facebook: www.facebook.com/p3roxbury