$69.2 million in funding will go towards creating and preserving 1,097 units of housing
Building on his commitment to create and preserve affordable housing in Boston, Mayor Martin J. Walsh today announced $69.2 million in new and recommended funding from the Department of Neighborhood Development, the Neighborhood Housing Trust, and the Community Preservation Fund to create and preserve 1,097 units of housing in Brighton, Chinatown, Dorchester, East Boston, Hyde Park, Jamaica Plain, Mattapan, Roslindale, Roxbury and West Roxbury. The funding will also contribute to affordable housing programming like the Acquisition Opportunity Program and the ONE+Boston program. These funds represent the largest affordable housing funding awards by the City of Boston since the release of Housing a Changing City: Boston 2030 in 2014.
“Today we are announcing a monumental investment. We fund affordable housing every year, but this is the most we’ve ever done in the City of Boston,” said Mayor Walsh. “We are harnessing our City’s incredible economic strength to invest in all the things working people need. This will help build a strong middle class, and will make a difference for years and generations to come.”
The new funding will create 936 new units and preserve 161 units of housing, with a majority of them serving households with incomes at or below 60 percent of the Area Median Income (AMI), which amounts to $71,100 or less for a family of four. The new units are a combination of homeownership and rental opportunities and include special projects with units set aside for formerly homeless households, youth aging out of the foster care system, seniors, and artists.
“Madison Park is thrilled about our award to create 20 new homeownership units for low- and moderate-income residents of Roxbury,” said Leslie Reid, CEO of the Madison Park Development Corporation. “Our project at 75-81 Dudley Street will continue our partnership with the City to move Nubian Square forward, and will give families a chance to build wealth within their own community.”
Read the entire article as it originally appeared in Sampan here.