Category: CEDAC

CCRI Supports More Than 500 Housing Units For Veterans

Veterans in Massachusetts and across the country are in need of housing and access to supportive services. MassHousing is partnering with a number of organizations to help increase the availability of quality affordable housing for Veterans.

The funding comes through the Center for Community Recovery Innovations (CCRI), a nonprofit subsidiary of MassHousing that works to increase the availability of affordable, sober housing and supportive programming.

“The need for affordable sober housing reaches across all populations, men and women, young and old,” said Ed Chase, Director of CCRI. “Veterans are among those whose recovery from alcohol and drug abuse can be bolstered by a substance free and supportive environment in the community. CCRI is proud to collaborate with dedicated local partners to provides this quality housing.”

MassHousing has provided more than $1.8 million in funding to support 520 units of affordable sober housing at 24 developments for Veterans and formerly homeless Veterans in Massachusetts.

CCRI Projects Serving Veterans

Project Name CCRI
Award		 Location Units
Veterans, Inc (Cambridge Street) $50,000 Worcester 9
Montachusett Vets Outreach Ctr. $75,000 Gardner 19
Soldier On $50,000 Leeds 70
NeighborWorks (Fr McCarthy’s) $70,000 Quincy 19
Veterans, Inc. (Grove St) $75,000 Worcester 20
Caritas (North Street) $75,000 New Bedford 19
Bedford Veterans Quarters $75,000 Bedford 54
NeighborWorks (Sansatini House) $75,000 Quincy 10
Fr Bills & Mainspring (Work Express) $75,000 Brockton 32
Mass Sober Housing (Hooper Street) $29,610 Chelsea 5
Veterans, Inc (Sheridan Street) $75,000 Worcester 10
Soldier On $70,000 Pittsfield 39
Fr Bills & Mainspring (Fort Hill) $75,000 Hingham 6
Bi-Lingual Veterans Outreach Ctrs. (Cass St) $75,000 Springfield 19
Volunteers of America (Mass Bay Vets Center) $75,000 Somerville 26
CHOICE (Home for Our Veterans) $150,000 Chelmsford/Westford 13
Veterans, Inc (Sheridan Street) $25,000 Worcester 9
New England Center and Home for Veterans $75,000 Boston 35
Partners in Housing (O’Connor Sisson House) $75,000 Dartmouth 9
NeighborWorks (E Howard Street) $125,000 Quincy 12
Fr Bills & Mainspring (Jack’s Pl & Patti’s House) $125,000 Brockton 21
Veterans Inc (Independence Hall) $75,000 Shrewsbury 35
NeighborWorks (Main St) $75,000 Weymouth 6
Fr Bills & Mainspring (Montello WH II) $75,000 Brockton 23
TOTAL $1,819,610 520

 

Putting CCRI Dollars to Work

One of those developments is Weymouth Veterans House, a six-unit facility developed by Neighborworks of Southern Massachusetts (NWSOMA) in partnership with the Town of Weymouth and Father Bill’s & MainSpring, which received a $75,000 award from CCRI. The two-story property includes six single room occupancy (SRO) units (each with a kitchenette), a community room with a full kitchen, a laundry closet, common restrooms and an office for the case manager from Father Bill’s & MainSpring, a longtime partner of NWSOMA. This home is thriving in the community and is a model for other towns to replicate in the future.

NWSOMA Executive Director Robert Corley attributes the ongoing success of projects such as the Weymouth Veterans Home to the strong partnerships the organization maintains with community members, local cities and towns, and partners such as MassHousing.

“Support from MassHousing through programs such as the Center for Community Recovery Innovations helps ensure that we are able to continue our work year after year to create stable homes with supportive services through creative and comprehensive approaches to ending homelessness, particularly for US Military Veterans, in our community,” he said.

Since 1996, NWSOMA has developed and assisted in the development of 50 homes on the South Shore with a preference for Veterans and their families. Eight more Veterans’ homes under development now. Father Bill’s & MainSpring partners with NWSOMA on these projects, providing emergency and permanent housing, job skills training and other services in southern Massachusetts. Along with transforming vacant, blighted neighborhood eyesores into new, energy-efficient homes and green spaces to support formerly homeless Veterans, NWSOMA also works to raise public awareness of Veterans’ dire predicament and break down the stereotypes that act as barriers.

About CCRI

CCRI issues an annual Request for Proposals (RFP) to solicit projects for funding. The proposals that are selected need to meet CCRI’s current priorities, which include Veterans and women with children. The grants are typically used as one-time gap funding for capital projects that increase or improve the stock of affordable sober housing. Programs that provide services to address alcohol and/or drug abuse or addiction. CCRI grant recipients must be nonprofit organizations and matching funds must be provided.

To date, CCRI has awarded more than $10 million in grants for the creation or preservation of more than 2,100 units of substance-free housing, in 50 communities, serving recovery populations that include men, women, families, Veterans, the homeless and ex-offenders.

http://masshousing.typepad.com/my_weblog/2017/11/ccri-supports-more-than-500-housing-units-for-veterans.html

SourceMassHousing Blog

Chinatown Development Includes 51 Affordable Condos

A 51-unit development will provide homeownership units selling for under $200,000 in Boston’s Chinatown, a neighborhood under pressure from gentrification and conversion of apartments into short-term rentals.

Asian Community Development Corp. led the 88 Hudson St. project on parcel 24, which became available from the Massachusetts Department of Transportation following the completion of the Central Artery Tunnel project. The latest phase includes a mix of one- through three-bedroom condos restricted to households earning from 60 to 100 percent or less of the area median income, with sales pricing ranging from under $200,000 to $235,000.

The financing package included a contribution from the city of Boston totaling more than $6 million including $5.9 million from inclusionary development funds and $750,000 from the City of Boston’s Neighborhood Housing Trust, $2.1 million from the Massachusetts Department of Housing and Community Development and Housing Stabilization Funding and $1.9 million in Affordable Housing Trust Funds. Eastern Bank provided an $8.9 million construction loan  and CEDAC provided predevelopment financing for the project.

The first phase of parcel 24, the One Greenway project, was completed in 2015. That phase included 312 apartments, including 95 affordable units and 3,300 square feet of retail space.

Chinatown Development Includes 51 Affordable Condos

SourceBanker & Tradesman

Ludlow Mill Redeveloped As 75-Unit Mixed-Income Complex

A $19.3 million redevelopment of a 110-year-old historic mill in Ludlow has generated 75 new units of mixed-income senior housing that are already 100 percent leased.

The Residences at Mill 10 contains 63 one-bedroom and 12 two-bedroom apartments for residents ages 55 and older. The complex includes 51 units restricted to households with incomes at or below 60 percent of the area median income (AMI) and 15 set aside for households at or below 30 percent AMI.

Boston-based WinnDevelopment led the project at the 108,163-square-foot building, which is listed on the National Historic Register.

“People began asking to be put on the waiting list for apartments in Mill 10 almost as soon as we began construction, so there is no doubt that the desire for quality housing for seniors in this region is strong,” Larry Curtis, president and managing partner of WinnDevelopment, said in a statement.

The 170-acre former mill complex, formerly the home of the Ludlow Manufacturing and Sales Co., includes more than 60 buildings once used to manufacture rope and twine.

Financing for the project included state and and federal low-income housing tax credits; funding from the housing stabilization fund and HOME fund of the Massachusetts Executive Office of Housing and Community Development; state and federal historic tax credits; tax credit equity from Bank of America; a loan from the Boston Community Loan Fund; money from the Affordable Housing Trust Fund managed by MassHousing; a loan from the town of Ludlow; Facilities Consolidation Fund proceeds from the Community Economic Development Assistance Corporation; a first mortgage from Massachusetts Housing Partnership; project-based subsidies from the U.S. Department of Housing & Urban Development (HUD); and owner equity in the form of a deferred developer fee.

BofA provided construction financing. Quincy-based Dellbrook Construction served as general contractor and The Architectural Team of Chelsea was the architect.

WinnDevelopment also has secured the rights to develop housing at Mill 8, known as the Clock Tower building.

The property is owned by nonprofit Westmass Area Development Corp.

Ludlow Mill Redeveloped As 75-Unit Mixed-Income Complex

SourceBanker & Tradesman

Northampton affordable housing apartment complex ‘The Lumber Yard’ breaks ground

A groundbreaking ceremony was held in Northampton Wednesday for The Lumber Yard Apartments, a new affordable housing complex coming to the city.

The project is the product of Northampton-based non-profit Valley Community Development Corporation (CDC), which dedicates itself to empowering low and moderate income individuals through housing development and home ownership encouragement.

Upon completion, the Lumber Yard, located at 256 Pleasant Street, will be a four-story, 70,000-square complex, replete with 55 units that offers housing to low and moderate income families and individuals. It sits on the site of former lumber business Northampton Lumber, hence its name.

The cost of the project is nearly $19 million. Its development has been facilitated through funding and support from a wide number of organizations and institutions, including the City of Northampton, state organization MassWorks, the state Community Economic Development Assistance Corporation, TD Bank, Way Finders, and Smith College.

Representatives from many of the organizations were present Wednesday, along with Northampton Mayor David Narkewicz and state Secretary of Housing and Community Development Jay Ash, both of whom played roles in providing funding for the project.

Boston-area architect Clifford Boehmer got an earful at Thursday’s joint public hearing.

The Lumberyard has been in development for roughly four-and-a-half years, with predevelopment beginning in 2013, said Joanne Campbell, director of Valley CDC, during her remarks Wednesday. Campbell thanked the project’s many financial backers and contributors, saying that the “collaboration between so many people to make this work has been unbelievable.”

“I really want to thank all those supporters–too many to mention–for the advocacy and friendship during what was sometimes a hairy process,” Campbell said.

The project ran into snags during development, including the discovery of an 1847 storm water conduit that runs under the property that would have to be relocated. Funding for the relocation is being covered by MassWorks, a state infrastructure program.

Other setbacks included a lawsuit from an abutter that was later settled that claimed the project impinged on his property, as well as public complaints about the size and scale of the project during initial public meetings regarding the project.

However, if the building has been met with some pushback it has also been generously assisted by numerous organizations and individuals along the way, Campbell noted Wednesday.

Speaking at the ceremony, Mayor David Narkewicz commended the project and described it as another important addition in a larger initiative to revitalize the Pleasant Street corridor. “This project is part of a larger commitment on the part of the city to make strategic public investments not only to support affordable housing but also economic development,” as well as to further develop “this important corridor to our city,” Narkewicz said.

The agenda to transform Pleasant Street has been an oft touted goal of Narkewicz, who stated earlier this year that the street was “an important gateway” to Northampton that would continue to be targeted for private investment and state grants.

The project will bring 55 affordable units and leverage improvements to Pleasant Street.

Narkewicz further stated Wednesday it had been a pleasure to work with Secretary Ash on the project.

Ash, whose office helped to secure the bulk of the funds for the project, said during his remarks Wednesday that he was excited to see the project completed. “This is an important project because it sends a message to the entire state that Northampton is a leader in affordability,” he said.

Ash further remarked that he had a personal connection to projects like this, seeing as he himself was a “beneficiary” of affordable housing and grew up in affordable housing in the Boston neighborhood of Chelsea during his early years. “I know just how important affordability can be for individuals and families, as well as for the community,” Ash said.

After construction is completed, a marketing campaign will be used to alert potential tenants some six months before the building is ready for occupancy, Campbell said. After accepting applications, applicants will be reviewed and interviewed, and qualifying candidates will participate in a lottery.

Campbell said she expects the marketing campaign will begin sometime during the Spring of 2019.

The Valley CDC also plans to move its central offices from their current locations on Market Street to a location adjacent to the apartment complex on Holyoke Street.

The myriad contributions and financial support that went towards realizing the project include a grant of $100,000 from Smith College’s affordable housing fund. The City of Northampton, meanwhile, provided $500,000 in federal Community Development Block Grant funds and Community Preservation Act funds. TD Bank is contributing to the project by providing tax credit equity, construction and permanent financing.

http://www.masslive.com/news/index.ssf/2017/11/northampton_lumber_yard_afford.html

SourceMassLive.com

$19M affordable housing project coming to Northampton

The Valley Community Development is investing $19 million to turn the former Northampton Lumber Company property into 55 affordable housing units and commercial space.

“So the majority of the units are affordable to people who earn between 50 and 60 percent of the median income, which means about $25,000 to $50,000 in income, based on household size,” said Joanne Campbell, Executive Director of Valley Community Development.

The project will house 55 families, one to three bedrooms apartments on four floors.

Twelve of those apartments will be for people earning 30 percent of the median income or less.

“So that’s for really low income households,” Campbell told 22News.

On Wednesday, more than 50 people gathered at the site, which is part of a larger project to revitalize the Pleasant Street Corridor, which is considered the gateway to downtown Northampton.

The city has invested a half a million dollars in the project.

“We’ve also invested significant grant money to do infrastructure work along the corridor, specifically moving storm water that affects this project,” said Northampton Mayor David Narkewicz.

Northampton has also built new raised crosswalks and curb extensions. The state invested $2.5 million of tax money in that project.

“It has a multiple benefit of providing affordable housing for the community, bringing some market rate housing to the community and also rehabbing a vacant space that has been kind of hoovering over the community,” said Jay Ash, Secretary of Housing and Economic Development.

The state provided the bulk of financing.

The entire project is expected to take about 18 months.

http://wwlp.com/2017/11/01/19m-affordable-housing-project-coming-to-northampton/

SourceWWLP

Multifamily Developer Breaks Ground On ‘Lean’ Pilot Project

Egleston Square

Boston-based developer Urban Edge Housing Corp. broke ground Friday on the Walker Park apartments, a 49-unit, $17.5 million affordable rental housing complex in Roxbury’s Egleston Square.

Urban Edge is redeveloping three vacant parcels next to the Egleston Square Library into apartments restricted to households earning a maximum of 60 percent of the area median income (AMI), including eight units reserved for families earning no more than 30 percent of AMI.

The development is being built under the city’s Lean Pilot Project, which is designed to cut construction costs through coordination between the developer, architect and city officials from the early stages of the design process. Nearly 50 percent of the project’s subcontractors are minority-owned businesses and more than 22 percent are women-owned enterprises.

Financing for the project included $2.6 million from the city’s Department of Neighborhood Development and $3.46 million in state and federal Low Income Housing Tax Credits from the Massachusetts Department of Housing and Community Development.

Financing team members also include Bank of America Merrill Lynch, Brookline Bank, the Community Economic Development Assistance Corp., MassDevelopment, MassHousing, Massachusetts Housing Investment Corp., Massachusetts Housing Partnership, US Bank Corp., and the U.S. Department of Housing and Urban Development.

The development is named for the late community activist Delphine Walker, whose home previously occupied one of the parcels. Walker Park Apartments will include 13 one-bedroom, 28 two-bedroom and eight three-bedroom family apartments, an elevator for accessibility, on-site laundry facilities, on-site parking and a pocket park along Columbus Avenue.

Along with Urban Edge, the development team includes Prellwitz Chilinski Assoc. as architect and NEI General Contracting, Inc. as the general contractor.

 

Multifamily Developer Breaks Ground On ‘Lean’ Pilot Project

SourceBanker & Tradesman

Upgrades Set To Begin At Fenway Complex

Longtime renters in the Boston’s Fenway neighborhood have felt the squeeze from rising rents and conversion of apartments into off-campus housing.

The acquisition of the Burbank Gardens property by the Fenway Community Development Corp. will retain 52 income-restricted units for low-income and disabled residents, averting the Haviland Street complex’s conversion to market-rate housing. Renovations to the property are scheduled to begin in January.

The complex is one of 12 in the city that will lose their funding under the state’s 13A mortgage subsidy program in the next few years. The property is the first in Boston to be acquired by a nonprofit group.

“The seller had an opportunity to sell it on the full market and we were able to strike a deal (through) some shrewd negotiating by our real estate director and maintain the affordability in perpetuity for the residents in the 52 units residing in this absolutely beautiful building,” said Leah Camhi, executive director of the Fenway CDC.

The financing package includes $2.5 million in acquisition financing and $2.5 million in permanent financing from community development block grant funding from the city of Boston. MassHousing provided $5 million in acquisition debt, a $3.8 million construction and permanent tax-exempt bond financing and a $5.4 million bridge loan. Community Economic Development Assistance Corp. provided a $8.3 million temporary acquisition loan.

As a result, 39 units will be retained for households earning a maximum 60 percent of the area median income. Nine will be set aside for households earning 80 percent of AMI, and four will be preserved at 90 percent of AMI.

Leah Camhi, executive director of the Fenway CDC, discusses the preservation of affordability at Burbank Gardens:

https://www.bankerandtradesman.com/upgrades-set-to-begin-at-fenway-complex/?utm_campaign=Daily&utm_source=hs_email&utm_medium=email&utm_content=57398756&_hsenc=p2ANqtz-8BlMFAdSmQYy_2Pt79GPPRct5_TVaVnHCqZLUy86x70BhX9cjX6i7AQjEZH0klaIaSOn2uUcU7zBrgt7BilXrojwtRAw&_hsmi=57398756

SourceBanker & Tradesman

Boston Fund to Help Non-profit Developers Compete for Sites

Boston’s Mayor Martin J. Walsh recognizes the increasing need to provide affordable housing options in the city in order to preserve the diversity and character of Boston. The mayor’s office has partnered with the Community Economic Development Assistance Corporation (CEDAC) and the Local Initiatives Support Corporation (LISC) to create the Vacant Site Acquisition Fund. The $8.5 million program is designed to provide financing options for nonprofit housing developers to acquire vacant and underutilized land and buildings for sites of affordable housing. Because private developers typically have the resources to pay cash and move more quickly than nonprofit organizations, the nonprofit developers struggle to compete for development sites; this program aims to provide nonprofit developers funding to acquire vacant and underutilized land in a competitive market. The nonprofit developers will be able to create mixed income, multi-family housing, preserving affordable housing options in the city.

The Vacant Site Acquisition Fund has three main components:

  1. The City of Boston will provide site deposit assistance in the form of interest-free bridge loans up to $200,000.
  2. The $8.5 million fund will provide quick approval for low-interest, long-term acquisition financing.
  3. Because affordable housing typically takes longer to produce than market-rate housing, the City of Boston is providing interest-free loans up to $300,000 to defray the cost to nonprofit developers of holding the property for three- to five-year periods.

The Vacant Site Acquisition Fund is part of the mayor’s plan to combat the displacement of Boston residents, and it complements his citywide plan, Imagine Boston 2030, designed to encourage growth in a broad range of housing options in the city.

http://web20.nixonpeabody.com/ahrc/Lists/Posts/Post.aspx?ID=852&Title=Boston+Fund+to+Help+Nonprofit+Developers+Compete+for+Sites?Refer=email

SourceNixon Peabody Affordable Housing Blog

Boston housing development honored for affordable and workforce housing from Urban Land Institute

Mayor Martin J. Walsh today announced that the Mosaic on the Riverway, a mixed-income 145-unit residential building, has been awarded the Urban Land Institute (ULI) Terwilliger Center for Housing’s 2017 Jack Kemp Excellence in Affordable and Workforce Housing Award. The annual award, which honors developments that ensure housing affordability for people in a broad range of incomes, is provided to developments in which all or a portion of the units are affordable to households earning up to 120 percent of the area median income (AMI). Mosaic on the Riverway is located at 80 Fenwood Road, on the corner of Brookline Avenue and the Riverway.

Mosaic on the Riverway is the result of a joint venture between the City of Boston, Brigham and Women’s Hospital/Partner’s Healthcare (BWH) and The Roxbury Tenants of Harvard (RTH) to provide mixed-income housing, community space and child care on a two-acre site that is within close proximity to jobs, transit and open space. This project was made possible by a more than $6 million investment by the City of Boston, including nearly $2 million in housing linkage funds created by Brigham Building for the Future, nearly $3 million provided by the Department of Neighborhood Development (DND) and $1 million from the Neighborhood Housing Trust. Total development cost was more than $63 million.The site was obtained by the partnership through a ground lease from the Commonwealth of Massachusetts.

“Mosaic on Riverway was a critical project to create new affordable housing for our residents, and I thank the Urban Land Institute for recognizing our work on this project,” said Mayor Walsh. “We will continue to work every day to lift up every neighborhood in Boston by making sure all residents and their families have accessible and affordable housing options.”

Mosaic on the Riverway includes 145 new units of housing, with 60 of the units affordable to those earning less than 60 percent of Area Median Income (AMI), and 43 new home ownership  condominiums for residents earning 60 to 120 percent of AMI.  The new building also addresses a childcare shortage in the Mission Hill area by creating a 9,000-square foot early childhood education center located on the ground floor that serves 90 children and is operated by the YMCA of Boston.

The Boston Planning & Development Agency (BPDA) informed the planning context and design for the development with the Commonwealth of Massachusetts and facilitated the development review and housing linkage funds for the project.  As part of it’s funding, DND coordinated development financial underwriting, development and design review and construction and permanent loan closings. 

The building meets LEED Silver, Energy Star, and Enterprise Green Community standards. Pedestrian enhancements created pathways and sitting areas and a play space in Mission Hill.  This project revitalizes a portion of the Mission Hill community, bringing the entire site back to productive use.

ULI established the Jack Kemp Excellence in Affordable and Workforce Housing Award in 2008, naming the award in memory of Jack Kemp, former secretary of the U.S. Department of Housing and Urban Development and ULI Terwilliger Center national advisory board member. The award is given annually to affordable and workforce housing developments that represent outstanding achievements in several areas, including affordability, innovative financing and building technologies, proximity to employment centers and transportation hubs, quality of design, involvement of public/private partnerships, and replicability of the development, among other criteria.

“One of the goals in establishing the ULI Kemp Award program was to show the critical role that housing plays in achieving economic prosperity and a high quality of life, both for individuals and communities,” said J. Ronald Terwilliger, chairman of the ULI Terwilliger Center for Housing and a former ULI chairman. “If a family is constantly worried about housing, then being healthy, getting educated, and staying employed is never much of an option. A family with a stable housing situation is a family with a chance. Housing is the foundation from which everything else takes root.”

“Mixed-income housing is a good business and good for communities,” said Stockton Williams, ULI executive vice president for content and executive director of the ULI Terwilliger Center for Housing. “These award-winning developments reflect the innovation and leadership that have characterized the ULI Kemp Award since its inception.”  

“As an organization committed to providing quality housing and services in the the Mission Hill community, we are thrilled to be able to work with our partners to build Mosaic which has provided much needed affordable homeownership and rental opportunities,” said Karen Gately, Executive Director of The Roxbury Tenants of Harvard. 

A video of the awards ceremony can be found here.

By the year 2030, Boston will reach more than 700,000 residents, a number the City has not seen since the 1950s. Housing a Changing City: Boston 2030 is the Walsh Administration’s comprehensive housing plan to reach 53,000 new units of housing at a variety of income levels across the City.

About the ULI Terwilliger Center for Housing
The ULI Terwilliger Center for Housing conducts research, performs analysis, provides expert advice, and develops best practice recommendations that reflect the residential land use and development priorities of ULI members in all residential product types, with special attention to workforce and affordable housing. The center was established in 2007 with a gift from longtime ULI member and former ULI chairman J. Ronald Terwilliger.

About the Urban Land Institute
The Urban Land Institute is a nonprofit education and research institute supported by its members. Its mission is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. Established in 1936, the institute has more than 40,000 members worldwide representing all aspects of land use and development disciplines. For more information, visit uli.org or follow us onTwitter, Facebook, LinkedIn, and Instagram.

http://www.bostonplans.org/news-calendar/news-updates/2017/10/4/boston-housing-development-honored-for-affordable?utm_source=BPDA+Blog&utm_campaign=429f37b643-BPDA_Blog_10_6_2017&utm_medium=email&utm_term=0_f1dd6a69b7-429f37b643-175052205

SourceBoston Planning & Development Agency

Boston to Help Affordable Housing Developers Rethink Vacant Lots

In a market where buildable land goes quickly to private developers paying cash — or investors who sit on the property and wait for its value to rise — nonprofit builders are at a definite disadvantage. Boston Mayor Marty Walsh wants to level that building field, and his administration has announced an $8.5 million program designed to help nonprofits acquire parcels for affordable housing.

The city plans to contribute $2.5 million to the loan fund, with $6 million coming from the Community Economic Development Assistance Corporation and the Local Initiatives Support Corporation, the Boston Globe reports. The program is aimed at underutilized chunks of neighborhood around Boston close to public transportation.

“If you can buy an unused parking lot in, say, Egleston Square for $1 million and put a 40- or 50-unit building on it, that’s kind of the sweet spot,” Sheila Dillon, chief of housing for Mayor Walsh, told the Globe. “We need to take things out of the speculative market.”

The program is similar to another one that the city announced last year to help nonprofits buy apartment buildings. According to the Globe, results of that program have been mixed with some success in East Boston and Roslindale. But in other neighborhoods, the money offered hasn’t gone far enough.

Like other cities struggling with the many flip sides of a hot housing market — skyrocketing rents, displacement, homelessness — Boston has gotten creative in the last few years. In 2016, voters chose to adopt the Massachusetts state Community Preservation Act (CPA), which allows municipalities to add a small surcharge to their property taxes to fund affordable housing, open space acquisition and historic preservation. As Next City has reported, the city had previously opted out of the agreement, under which the state can match local dollars by up to 30 percent.

Walsh has also made housing a legislative priority, promising to address the city’s housing shortage by building 53,000 new homes by 2030, although questions remain about how he plans to go about doing that without causing displacement — a worry that’s especially prevalent in black communities like Dudley Square.

https://nextcity.org/daily/entry/news-boston-affordable-housing-developers-rethink-vacant-lots

SourceNext City