Massachusetts has a well-developed – and well-regarded – community development sector but not all areas in the State are as strongly developed as others.  In the Gateway Cities, the community development corporations (CDCs) work in the context of struggling economies, greater poverty, and tighter fiscal constraints than the Boston metro area. Over the last several yea...

In February, Roger Herzog described CEDAC’s long history of supporting our non-profit partners as they produce and preserve supportive housing units through three distinct capital programs, including the Facilities Consolidation Fund (FCF). FCF was created in response to an advocate-driven effort to close institutions serving Department of Mental Health (DMH) or Departme...

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...

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...

Reflecting on the last twelve months, the housing and community development sector in Massachusetts has accomplished much in our efforts to build strong communities. We are proud of both CEDAC’s contributions and the work of our non-profit community partners. These partners are the backbone of the Commonwealth’s robust community development sector and its achievemen...

Congress has approved the tax reform bill and it is anticipated that it will be signed into law by the end of the week, finishing a month of nail biting uncertainty regarding a number of fiscal issues, including several important affordable housing programs. The production and preservation of affordable housing is part of the country’s social safety net for low-income an...