Chelsea is now a landlord. The city owns and runs a six-unit apartment building at 55 Heard Street, which it calls Chelsea 55, the first city-owned and city-managed affordable housing property in its history. The first family moved in on September 1, and more than 300 people applied in the city’s first affordable housing lottery for the six apartments, according to the city.
Each apartment has three bedrooms. When a resident asked the city on its Facebook page how much the rent is and how big the units are, the city answered: “Each is listed at $2,500 and 845 square feet.”
How the city came to own it
The building was in receivership in 2025. In a January letter to the City Council, City Manager Fidel Maltez wrote that it would go to auction if the city did not buy it, and asked for $2 million from the overlay surplus, money the Board of Assessors released on December 16, 2025. The council approved the $2 million on January 28, 10-0, for land and building acquisition and improvements “including an affordable housing project.” The council record does not give the purchase price or say how much of the $2 million went to the building itself.
The manager’s letter described the plan as six three-bedroom units “at affordable rents prioritizing low and very low income families,” with tenants chosen by lottery and priority for families, residents with disabilities and veterans. The city’s September announcement listed the priorities as current residents, families, veterans and anyone recently displaced.
After the purchase, the Department of Public Works renovated the building. The city has not published what the renovation cost.
Who runs it
The city’s Law Department manages the building. The council also created a revolving fund for it in January: rent from the tenants goes into the fund, which pays for management, maintenance and repairs, with spending capped at $400,000 a year and approved by the city solicitor, the DPW commissioner or the city manager. Any balance above $400,000 goes to the city’s general fund, and the council must set the spending limit every year. The manager’s letter said surplus money could also be used to buy more buildings for affordable housing.
City Solicitor Cheryl Watson Fisher cut the ribbon, according to the city. The city says that if Chelsea 55 works, providing stable, affordable housing that meets both residents’ needs and the budget, it may buy more buildings.
What we do not know
- What the rent is affordable to. The city has not said what income level the $2,500 rent is set for, or whether all six units rent at the same price. The January letter promised rents for “low and very low income” families; the listed rent is the only figure the city has made public.
- What the building cost, and what the renovation cost.
- How the lottery was run and how many of the more than 300 applicants were Chelsea residents.
The city’s announcement is on its website.