Governor Charlie Baker and Lt. Governor Karyn Polito, joined by senior Administration officials and area legislators, traveled to Lawrence on July 15th to announce funding awards to 28 affordable rental housing projects. This in-person event is evidence that Massachusetts is increasingly open for advancing affordable housing development.
The Commonwealth awarded $93.3 million in direct subsidy funding and federal and state low-income housing tax credits, which will generate an additional $310 million in tax credit equity. These awards will advance the development of 1,526 new rental units, including 1,311 homes affordable to low and extremely low-income households.
Eight MACDC Members were among the sponsors receiving awards. Collectively, the projects sponsored by these Members will create or preserve 327 rental units, including 277 affordable units.
- Rosewood Way Townhouses is a new construction project for families to be built in Agawam, sponsored by Way Finders. When completed, the project will offer 62 units, including 47 affordable units.
- Valley CDC will newly construct Amherst Supportive Studio Housing, which will include 28 studio units with supportive services, with 20 of these units being affordable.
- Burbank Terrace is a transit-oriented new construction project for families to be built in Boston’s Fenway neighborhood, sponsored by Fenway CDC. The project will provide 27 affordable units.
- B’nai B’rith Housing is sponsoring Residences Off Baker, a new construction project for families to be built in Boston’s West Roxbury neighborhood. It will provide 60 units, including 45 affordable units.
- The Neighborhood Developers will newly construct 25 Sixth Street in Chelsea, providing 56 rental units for families, including 44 affordable homes.
- 555 Merrimack Place is a new construction project to be built in Lowell. Sponsored by the Coalition for a Better Acre (CBA), the project will provide 27 affordable units and supportive services for a population in recovery from substance use disorder.
- Metro West Collaborative Development will newly construct Glen Brook Way Phase 2, and provide 44 affordable units for seniors in Medway.
- Granite Street Crossing is a new construction project to be built in Rockport, sponsored by Harborlight Community Partners. This intergenerational project will provide 23 affordable units, with 17 units restricted for seniors.
Congratulations to sponsors of all these critically-needed projects!