Gov. Healey announces $158M in funding for affordable housing developments statewide MABA MassachusettsRealEstate MaBuerAgent FirstTimeHomeBuyers

 The Healey-Driscoll Administration has announced a $158 million investment in low-income housing tax credits and subsidies for more than a dozen affordable housing projects across Massachusetts. The funds will benefit fourteen projects across twelve communities aimed at creating and preserving one thousand one hundred and thirty eight affordable housing units for seniors and families. According to the governor’s office, the funds come in part from Gov. Maura Healey’s 2023 one billion dollars tax relief bill which increased the low-income housing tax credit to sixty million dollars per year, a twenty million dollars boost aimed at helping the state support more affordable housing production.

 Healey called high housing costs one of the biggest challenges facing Massachusetts residents and said her administration refuses to “kick the can down the road.” “We need to increase housing production across the state to lower costs and these affordable housing awards will help us get there,” said Healey. “Because of our tax cuts package, we’re able to give out more funding than ever before, which will directly support the creation of more than one thousand affordable homes for seniors and families across our state.”

 The projects benefiting from the funds include new senior developments, a “deep energy retrofit” and converting an old mill into housing. Among the projects, ninety five percent of the units will be affordable for seniors and families earning less than sixty percent of the area median income (AMI), at least three hundred and twenty seven units will be deeply affordable and restricted to those earning less than thirty percent of the AMI. “Every dollar we’re delivering to developers and communities directly translates into new, affordable homes for residents across our state,” said Lt. Gov. Kim Driscoll.

The fourteen projects include: 

 The Brian J. Honan Apartments in Allston-Brighton, which will offer fifty rehabilitated and affordable units. The Brooke House at Olmsted Village in Boston, which will offer one hundred and twenty seven affordable senior units. Warren Hall in Boston, which will have thirty five units, thirty three of which will have affordable rent restrictions and eight restricted for households earning less than thirty percent AMI. Phase one of the Campello Redevelopment in Brockton, which when complete will have one hundred and forty four affordable to low-income units for seniors.

 Blanchard one and two in Cambridge, which will include one hundred and ten affordable units for those at least fifty five years old. Hamilton’s Asbury Commons will include 45 total affordable units, with twenty nine units restricted for families earning less than sixty percent AMI and sixteen restricted for families earning less than thirty percent. Harbor Vue in Hyannis will have one hundred and twenty total units for individuals and families, seventy of which will be affordable to households earning less than sixty percent AMI, with sixteen units further restricted for those earning less than thirty percent. Phase two of Marriner Mill adaptive re-use in Lawrence will offer sevent six total affordable units.

 The New Bedford Scattered Sites project will feature eighty three units, seventy three of which will be affordable for families and/or senior households and twenty further restricted to households earning less than thirty percent of AMI. Cranberry Commons senior housing in Plymouth will offer sixty two units, all of which will be affordable for seniors earning less than sixty percent AMI and thirteen further restricted for seniors earning less than thirty percent. El Centro senior housing in Salem will offer forty eight units across two buildings. All units will be affordable for seniors earning less than sixty percent AMI, with eight further restricted for those earning less than thirty percent.

 The adaptive reuse of Merrick Park Apartments in Springfield, which when complete will have sixty two affordable units for households earning less than sixty percent AMI and at least eight further restricted for those earning less than thirty percent.’ Wayland’s St. Ann’s Senior Villagewill have sixty affordable units for seniors earning less than fifty percent AMI, with fifteen further restricted for those earning less than thirty percent. Worcester’s Lakeside Apartments project will offer one hundred and sixteen affordable units for families earning less than sixty percent AMI and eighty seven further restricted for households earning less than thirty percent.

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