On Tuesday, March 8, Madison Park Development Corporation announced the official launch of its first-ever expanded homeownership program, Madison Park Next Door.
Through the efforts of MPND, MPDC provides zero-interest loans, $100,000 down-payment assistance for home purchases in Boston, and $50,000 for purchases outside of Boston. MPDC’s CEO, Leslie Reid, stated that she hopes to “move five households per year from renting to owning their own homes.” Within the next three years, Reid plans to establish 15 households with the help of Madison Park Next Door.
In an interview, Reid also stated that homeownership is quintessential to building assets and creating generational wealth, especially with consideration for Roxbury’s historic and political marginalization of its residents. “We’re committed to removing some of those obstacles,” stated Reid.