On July 18th, Governor Baker and other officials announced the award of $80 Million in subsidy funding, as well as state and federal tax credits that will generate more than $260 Million in subsidized private equity, for the development of affordable rental housing. When completed, these 28 projects will create or preserve 1,581 homes, including 1,349 affordable units, with 273 of these affordable units reserved for extremely low-income households.
The developments awarded funding include 12 projects sponsored by MACDC Members, resulting in the creation or preservation of 500 homes, including 467 affordable units:
Nuestra Comunidad’s Bartlett Station Building A, part of a multi-phase redevelopment of a former MBTA lot in Boston’s Roxbury neighborhood, will offer 42 newly-constructed rental units, including 30 affordable units.
Dorchester Bay EDC will renovate 56 affordable units at Dudley Terrace Apartments in Boston’s Dorchester neighborhood.
Urban Edge’s Holzer Park, a transit-oriented development in Boston’s Jamaica Plain neighborhood, will involve the new construction of 62 units, including 54 affordable homes.
Lena Park CDC, in partnership with the New Boston Fund, will newly construct 47units- including 40 affordable units- as Olmsted Green Rental Phase IV, one of the final phases of the redevelopment of the former Boston State Hospital in Boston’s Mattapan neighborhood.
Mission Hill NHS will newly construct 46 units, including 43 affordable homes, as Parcel 25 Phase 2, in Boston’s Mission Hill neighborhood.
The Neighborhood Developers were awarded funds for two new construction projects for low-income seniors, with services, in Everett: St. Therese Condo 1 (44 affordable units), and St. Therese Condo 2 (33 affordable units).
North Shore CDC is developing Harbor Village, a mixed-use project in Gloucester which will offer 30 affordable units.
The Women’s Institute is newly constructing 30 affordable units in Sandwich at Terrapin Ridge.
B’nai B’rith Housing New England is redeveloping a vacant elementary school in Swampscott into 38 affordable homes at Senior Residences at The Machon.
Berkshire Housing Development Corporation’s Cole Avenue project will consist of is constructing 41 newly constructed units, including 38 affordable units, on a town-owned, former industrial site in Williamstown.
Worcester Common Ground’s 126 Chandler project in Worcester will combined adaptive re-use of a long-vacant mill building and new construction to create 31 affordable homes.
In order to receive a funding award, each CDC had to demonstrate its capacity, which has been enhanced through the Community Investment Tax Credit Program. When coupled with the subsidy resources necessary for affordable housing development, these CDC projects will provide high-quality homes for 500 families and seniors for many years to come.