Commonwealth Highlights Investment of $46 Million for Affordable Housing in Mini-Round

In INSITES this week, we share the announcement that 12 projects recently received a combined total of $46 million in capital subsidies as well as $125 million in equity from the sale of federal and state tax credits to develop 572 new units of housing in the Commonwealth’s most recent competitive funding round. Secretary of Housing and Economic Development Mike Kennealy joined Undersecretary of Housing and Community Development (and CEDAC Board Chair) Jennifer Maddox and community development sector leaders to announce the housing awards. The vast majority of the units – 507 – will be affordable to low- and moderate-income families, with more than 20 percent of the affordable units set aside for extremely low-income residents, with incomes at or below 30 percent of the area median income. Read INSITES