On April 14th, Housing and Economic Development Secretary Mike Kennealy and DHCD Undersecretary Jennifer Maddox joined state and local officials in Gloucester to announce awards for 15 affordable rental housing developments, located in 14 communities.
The Commonwealth awarded $63 million in direct subsidy funding along with federal and state low-income housing tax credits, which will generate additional equity of over $200 million. This funding will support the development of 697 units of rental housing, including 629 homes affordable to low and extremely low-income households.
Six of the projects were sponsored by MACDC Members. Collectively, these six projects will create or preserve 233 rental units, including 212 affordable homes.
- Rindge Commons Phase 1 is a new construction transit-oriented project located in Cambridge, sponsored by Just-A-Start. When completed, this project, built to Passive House standards will provide 24 homes, all affordable, along with retail space.
- Hilltown CDC’s Chester Commons, located in Chester’s town center, involves the historic rehabilitation of 15 units, all affordable.
- NewVue Communities will undertake adaptive re-use of an historic structure, Fitchburg Arts Community. This project, located in proximity to the Fitchburg Arts Museum, will provide 68 units, including 47 affordable units.
- Library Commons 2 will provide 41 homes, all affordable. Way Finders is sponsoring this project, located near downtown Holyoke.
- Island Parkside Phase 2, a new construction project located in Lawrence, will provide 40 homes, all affordable. The sponsor, Lawrence CommunityWorks, intends to build the project to Passive House standards.
- Harborlight Community Partners is the sponsor for Maple Woods, a new construction project for seniors located in Wenham. The project will provide 45 units, all affordable.