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Massachusetts Preserved Over 3,400 Affordable Housing Units Last Year Despite the Challenges of the Pandemic

Massachusetts Preserved Over 3,400 Affordable Housing Units Last Year Despite the Challenges of the Pandemic CEDAC announced today that Massachusetts preserved the long-term affordability of more than 3,400 existing units of rental housing during 2020. Our data show that 22 project developments with a total of 3,443 affordable apartments across the state were preserved ...

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Perseverance and Resilience in a Time of Crisis: Announcing CEDAC’s 2020 Annual Report

CEDAC is excited to share our FY20 Annual Report, which highlights how we’ve helped our non-profit community partners continue to develop affordable housing and child care facilities across the Commonwealth. Despite the many hardships caused by the pandemic, the community development sector has demonstrated remarkable resiliency and perseverance in moving forward and sup...

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Congratulations to Boston Mayor Marty Walsh, the new U.S. Secretary of Labor

Like so many around Boston and across Massachusetts, CEDAC was thrilled when Marty Walsh, Boston’s Mayor from 2014-2021, was selected by President Joe Biden and Vice President Kamala Harris to become the U.S. Secretary of Labor, and we congratulate him on his new role.  He brings an unquestioned commitment to helping working families and individuals to the role, which w...

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A Decade of the Massachusetts Affordable Housing Preservation Law, Chapter 40T

A Decade of the Massachusetts Affordable Housing Preservation Law, Chapter 40T In November, CEDAC released a new analysis of Massachusetts’ successful affordable housing preservation law, Chapter 40T, which was passed and signed into law in 2009.  “Chapter 40T at 10,” available on our website, was authored by CEDAC’s Director of Housing Preservation and Policy ...

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DHCD Helps Affordable Housing Production and Preservation Across Massachusetts to Move Forward Despite Public Health Crisis

In October, the Baker-Polito Administration announced the 2020 Affordable Rental Housing Awards. The Massachusetts Department of Housing and Community Development (DHCD) will provide more than $105.7 million in direct funding and $53 million in state and federal tax credits for the production or preservation of more than 2,400 housing units, including 2,166 affordable rent...

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Massachusetts Preserved Over 2,600 Affordable Housing Units Last Year

CEDAC announced today that Massachusetts preserved more than 2,600 units of affordable rental housing during 2019. Our data show that 3,032 total units in 25 project developments across the state were preserved using various types of state financing in 2019. From the total, 2,689 units are affordable and the remaining units are market rate.  The projects span the state an...

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CEDAC Approves $8.4 Million in Acquisition Financing to Preserve Affordability of 100 Housing Units in Attleboro

CEDAC Approves $8.4 Million in Acquisition Financing to Preserve Affordability of 100 Housing Units in Attleboro

Along with our partners Retirement Housing Foundation (RHF) and The Schochet Companies, we recently announced that CEDAC had committed more than $8.4 million in acquisition financing for the preservation of affordable housing in Attleboro.  This funding commitment was made to RHF and The Schochet Companies to acquire Hillcrest Acres in Attleboro. The transaction was r...

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Relocating Tenants During a Pandemic: What Are the Keys to a Safe, Successful Move?

Rehabilitating multifamily affordable housing projects is an important yet complicated part of preserving affordable housing in many locales. Though this process becomes all the more challenging during a pandemic, there are many reasons that the affordable real estate development process has moved forward in Massachusetts and beyond despite these circumstances. Whether exi...

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A Decade of Housing Preservation: Impact of the MacArthur Foundation Funding

In a highly competitive process among state and local jurisdictions across the country, Massachusetts was selected in 2009 to participate in the Windows of Opportunity initiative launched by the John D. and Catherine T. MacArthur Foundation.  This MacArthur initiative intended to address the need for innovative solutions to preserve the long-term affordability of thousand...

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CEDAC-Sponsored RAD for PRAC Forum on Preserving Existing Affordable Elderly Housing

On October 7, 2019, CEDAC offered a forum that explained how Section 202 owners can use RAD as a preservation tool for their Section 202 PRAC projects. Speakers included: Tom Davis, Director, Office of Recapitalization, US Department of Housing and Urban Development (HUD) Dan Rogers, Chief, Asset Management Division, Northeast Region, HUD Emily Cooper, Chief...

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