Mayor Walsh Announces Nearly $39M for Affordable Housing in Boston - May 19, 2015

BOSTON - Monday, May 18, 2015 - Mayor Martin J. Walsh today announced nearly $39 million to support affordable housing developments in neighborhoods throughout Boston. The funding, which will create or preserve 1,194 housing units, is possible through $27 million in federal and local resources through the Department of Neighborhood Development (DND) and $11.7 million in linkage funds through Boston's Neighborhood Housing Trust.  

"It is imperative that we continue to support affordable housing in our neighborhoods, and this funding will help many of our families in need of safe housing stay in their homes," said Mayor Walsh. "By investing in housing, we are supporting economic development and creating jobs that will revitalize Boston's neighborhoods for future generations."  

In addition, the funding will:

• Leverage more than $575 million in public and private investment in neighborhoods;
• Create an estimated 1,200 construction jobs; and 
• Set aside 196 units for homeless or extremely low-income families. 

The development budgets for all proposals will total over $614 million of public and private investment in Boston, with the City's investment representing 6 percent of the total capital needed. Many of the proposals are seeking additional support from the state, and Mayor Walsh will work with the Baker Administration and the Department of Housing and Community Development to ensure that Boston has the resources necessary to support much-needed affordable housing.

Click here for a complete list of the developments that have received funding awards.