Baker-Polito Administration Announces $35 Million to Support Affordable Housing Development

Funding and state and federal tax credits will support creation of more than 500 rental units in Massachusetts, including 348 affordable units

Today, the Baker-Polito Administration announced more than $20 million in subsidy funds, and allocated more than $15 million in State and Federal Low Income Housing Tax Credits (LIHTC) to support six new affordable housing projects in Massachusetts. The projects represents 511 new rental units, including 348 affordable units, with 55 reserved for extremely low-income residents, and families transitioning out of homelessness.

The administration is awarding more than $20 million in housing subsidy funds, and more than $15 million in State and Federal LIHTC, which will generate approximately $77 million in equity to support these projects. Each awarded project leverages substantial local funding commitments, including Community Preservation Act funds and municipal contributions.

To read the Governor's Press Release, please click here.

Affordable Rental Housing Awards:

North Square at the Mill District, Amherst is a 130-unit new construction, mixed-income project for families sponsored by Beacon Communities. The Department of Housing and Community Development (DHCD) will support the project with federal and state Low Income Housing Tax Credits and subsidy funds. The Town of Amherst will support the project with Community Preservation Act (CPA) funds as well as a tax agreement. The completed project will offer 26 affordable rental units, including eight units restricted for families earning less than 30 percent of Area Median Income (AMI). The North Square project also will feature 104 mixed-income units in a rental market that is highly-stressed by the thousands of students living in Amherst and nearby communities.

Concord Highlands, Cambridge is a 98-unit new construction, mixed-income project for families. The sponsor is the non-profit Homeowners Rehab, Inc. DHCD will support the project with federal and state Low Income Housing Tax Credits and subsidy funds. The City of Cambridge will support the project with more than $11 million in city housing funds. The completed project will offer 81 affordable units, including 10 units restricted for families earning less than 30 percent of AMI. Thirty-eight units at Concord Highlands will be available at workforce rental rates. The project will be built within walking distance of Fresh Pond and the Alewife Station on the MBTA’s Red Line.

Campbell-Purcell, Eastham is a 65-unit new construction, mixed-income project for families. The sponsor is Penrose Properties. DHCD will support the project with federal and state Low Income Housing Tax Credits and subsidy funds. The Town of Eastham will provide more than $700,000 in CPA funds to support the project. When completed, Campbell-Purcell will offer 50 affordable rental units, with 11 units restricted for families earning less than 30 percent of AMI. The project also will offer 15 units at workforce rental rates.

Library Commons, Holyoke is a 47-unit new construction and rehabilitation project for families. DHCD will support the project with federal and state Low Income Housing Tax Credits and subsidy funds. The City of Holyoke also will support the project with its own housing funds. When completed, Library Commons will offer 39 affordable rental units, including 12 units restricted for families earning less than 30 percent of AMI. The completed project also will offer eight units available at market rental rates. Library Commons is a scattered site project that will help revitalize a neighborhood near downtown Holyoke.

Van Brodie I and II, Lawrence is a two-phase project that will result in 102 total rental units. The sponsor is Trinity Financial. DHCD will support the project with federal and state Low Income Housing Tax Credits and subsidy funds. The sponsor and the City of Lawrence together will provide additional funds to the project and to three deteriorated multi-family buildings located near the project. When completed, Van Brodie I and II will offer 83 affordable rental units, including seven units restricted for families earning less than 30 percent of AMI. Nineteen units in the completed project will be made available at workforce rental rates.

Yarmouth Green, Yarmouth is a 69-unit new construction project. The sponsor is Dakota Properties. DHCD will support the project with federal and state Low Income Housing Tax Credits and subsidy funds. The Town of Yarmouth will support the project with over $2 million in Community Preservation Act funds. When completed, Yarmouth Green will offer 69 affordable units, including seven units restricted for families earning less than 30 percent of AMI.