The Residences of Walk Hill project would include 106 rental units.

The transit-oriented project is located 300 feet from public transportation.

Builders started to make headway against supply-chain issues that have hampered construction of homes in the face of high demand. 

The Brook is located in the city’s Alewife neighborhood.

While multifamily starts surged 13.7% compared to November, the pace of new single-family housing construction slid 2.3%, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Taylor Morrison topped Lifestory Research’s annual list of America’s Most Trusted® Homebuilders — for the seventh consecutive year.

The median sales price of new homes hit a new high of $416,900.

“November’s housing starts report signals strength for the housing market.”  — First American deputy chief economist Odeta Kushi

November’s reading of 83 was up three points from October, driven by low existing inventories and strong buyer demand, the National Association of Home Builders reported, citing the latest NAHB/Wells Fargo Housing Market Index.

Housing observers noted that demand for housing remains robust despite the lack of new supply.

The 819 Beacon St. project will create 393 rental units, including 59 on-site affordable units and 53 institutional patient-family housing units in partnership with Boston Children’s Hospital.

“There simply aren’t enough homes for sale relative to the demand fueled by millennials armed with low mortgage rate-driven house-buying power.” — First American Deputy Chief Economist Odeta Kushi

The decrease was driven by a 5.1% month-over-month slide in the rate of multifamily starts, while single-family construction was flat.

The seasonally adjusted estimate of new houses for sale at the end of July was 378,000, representing a supply of 6.1 months at the current sales rate.

Some supply-chain issues and price shocks have calmed in recent weeks. But the price volatility of core construction materials remains unsettling for builders trying to set their budgets.

The Elevated Companies 223 Saratoga development is slated to be completed this fall.