March 1st marked an important and somber date in affordable housing preservation – it was the day in which over 1,300 affordable housing units in 15 developments built in the 1970s hit their mortgage expiration date.  This “expiring use” problem stems from the financing of two of the biggest rental development programs in that era – the state 13A program and the f...

Last fall, Boston’s Mayor Marty Walsh, along with partners CEDAC and the Local Initiatives Support Corporation (LISC Boston), announced the creation of the Vacant Site Acquisition Fund.  This fund provides new financing options for nonprofit affordable housing developers to acquire vacant and underutilized land and buildings in order to produce more affordable housing u...

On January 1st, during his inaugural address, Boston Mayor Marty Walsh announced that the City of Boston will undertake an effort to build 200 new units of housing for chronically homeless individuals.  The city, in partnership with the Pine Street Inn and Bank of America, plans to raise $10 million for the Way Home Fund. A few weeks later, on January 16th, St. Francis...

CEDAC’s project staff parlays its extensive knowledge of real estate development and financing gathered over our 40 year history to help the Commonwealth of Massachusetts address the housing needs of its most vulnerable populations. The state legislature is currently considering a $1.7 billion Housing Bond Bill that will help the Commonwealth maintain its commitment to t...

Since our establishment in 1978, CEDAC has continued to evolve to better serve our non-profit borrowers, connect with Massachusetts’ network of community development corporations, and work with community partners to carry out our mission of community development and strengthening the communities across the Commonwealth. As the needs of you, our partners, have changed,...

I would like to offer my congratulations to our current chair of CEDAC’s board of directors, Chrystal Kornegay, on the recent announcement of her appointment as the new executive director at MassHousing. Chrystal has served with distinction for the past three years in the Baker-Polito administration as the Undersecretary of Housing and director of the Department of Housi...

Over a decade ago, a college professor and her students routinely observed how children interacted with teachers in an early childhood education program in Connecticut. They found that only 3 percent of each child’s time was spent interacting with an educator. This low percentage was notable, considering that research shows that engagement with a caregiver is essential t...

  Home Modification Loan Program (HMLP) is a state-funded loan program first enacted by the Legislature in 1999 to assist homeowners and small landlords finance home accessibility improvements. The program funds modifications such as ramps and lifts, hardwired alarm systems, fencing, bathroom and kitchen adaptations, and the creation of sensory spaces and accessory...

By profiling the work of a CEDAC borrower, we can see not only the evolution of the organization, but the evolution of the non-profit affordable housing sector in Massachusetts. Casa Esperanza is a great example that allows us to trace an inspiring chapter in the history of supportive housing for individuals and families impacted by addiction. Casa Esperanza was founded...

While it makes good planning sense to promote transit-oriented development (TOD) housing, there is also a need to ensure that the very households who most benefit from public transportation can afford to live in locations where it is easily accessible, that is, equitable transit-oriented development, or eTOD. Recently, the growing demand for TOD housing has been driving up...