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RealEstateRama

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Baker-Polito Administration Awards $72 Million to Create, Rehabilitate and Preserve Nearly 2,000 Housing Units

Governor Charlie Baker announced $72 million in housing subsidy funds and additional state and federal tax credits to 25 projects in 17 communities for the creation, rehabilitation, and preservation of 1,970 housing units across the Commonwealth, including 402 units reserved for very low-income families and families making the transition out of homelessness, building on the Baker-Polito Administration’s commitment to increasing the production and preservation of affordable housing for all residents

DHCD Announces October 2017 Mini-Rental Round Competition

The Department of Housing and Community Development (DHCD) has identified a limited amount of federal and state Low Income Housing Tax Credit (LIHTC) and state bond funds that could be made available competitively to certain highly ready projects before the end of 2017. Because of the great demand for new, family housing, projects must represent affordable or affordable/mixed-income family housing that meet the definition of production in the 2017 Qualified Allocation Plan (QAP). Also, in order to best leverage state resources, projects must be supported by significant levels of local matching funds.

AG Returns $6.3 Million to Homeowners After Investigation of Improper Charges by Insurance Company

Following an investigation and audit by Attorney General Maura Healey’s Office, a major Massachusetts insurance company is paying more than $6.3 million in refunds to more than 4,500 homeowners who were improperly charged for property insurance.

WinnDevelopment chosen to redevelop the Mary Ellen McCormack public housing development

WinnDevelopment Company, LP has been selected by the Boston Housing Authority to redevelop the first and one of the largest public housing development in New England.  Built in the 1930s, Mary Ellen McCormack consists of 1,016 deeply subsidized apartments and row houses. The proposed plan is to rebuild the site into a vibrant mixed-income community with a thoughtful design that embraces the existing residents and connects with the surrounding neighborhood.

Mass. July Pending Home Sales Down for the First Time in Over Two Years

The Massachusetts Association of Realtors® (MAR) reported today that single-family pending home sales fell almost six percent in July from last year. Pending condominium sales were also down more than 10 percent. The median price for both single-family homes and condos saw a hike over last year, with the single-family median price rising over the $400,000 mark for the second month in the row. Realtors® confidence in the market and in home prices were both up in July after a dip in June.

Sens. Markey, Warren, and Reps. McGovern, Capuano, and Keating Announce $2.2 million in Grants...

United States Senators Elizabeth Warren and Edward J. Markey along with Representatives Jim McGovern, Mike Capuano, and Bill Keating announced today that the Federal Emergency Management Agency (FEMA) has awarded five fire departments in Massachusetts nearly $2.2 million in federal grants.

Massachusetts Median Home Prices Cross the $400,000 Threshold for the First Time

The Massachusetts Association of Realtors® (MAR) reported today that the median price for a single-family home hit an all-time high and went over $400,000 for the first time. Both single-family homes and condominiums saw a drop in sales in June from last year. Inventory also reached the lowest level for the month of June since MAR began recording the data in 2004.

SEIA Testimony Urges Mass. DOER to Make Changes to Final SMART Regulations To Protect...

The Solar Energy Industries Association (SEIA) in comments and oral testimony urged the Massachusetts Department of Energy Resources (DOER) to make several changes to its proposed new solar incentive program to ensure the Commonwealth protects solar jobs. The Solar Massachusetts Renewable Target (SMART) program proposed by DOER would replace one of the state’s central solar policies, and is expected to be implemented next year.

Senator Markey Statement on EPA Roll Back of Clean Water Rule

Senator Edward J. Markey (D-Mass.), a member of the Environment and Public Works (EPW) Committee, released the following statement after the Environmental Protection Agency (EPA) and the U.S. Army Corps of Engineers announced their effort to repeal the Clean Water Rule

Baker-Polito Administration Awards $42 Million to Preserve Over 550 Affordable Housing Units

The Baker-Polito Administration announced awards to preserve three affordable housing developments in Worcester and Franklin. The $42 million in tax credit equity and subsidy from the Department of Housing and Community Development (DHCD) will fund the purchase and rehabilitation of the three developments and will maintain affordability of nearly all 559 housing units. These awards are part of the administration’s strategy to ensure the continuation of existing affordable housing across the Commonwealth

Baker-Polito Administration Awards $42 Million to Preserve Over 550 Affordable Housing Units

The Baker-Polito Administration announced awards to preserve three affordable housing developments in Worcester and Franklin. The $42 million in tax credit equity and subsidy from the Department of Housing and Community Development (DHCD) will fund the purchase and rehabilitation of the three developments and will maintain affordability of nearly all 559 housing units. These awards are part of the administration’s strategy to ensure the continuation of existing affordable housing across the Commonwealth

Dip in Closed Home Sales for Month of May as Median Prices Hit All-Time...

The Massachusetts Association of Realtors® (MAR) reported today both single-family and condominium saw a slight dip in sales in May from last year. Despite the drop, median home prices for both single-family homes and condominiums hit new all-time highs. Inventory also reached the lowest level for the month of May since MAR began recording the data in 2004.

Baker-Polito Administration Celebrates Ribbon Cutting at The Heights Amesbury Housing Development

Lieutenant Governor Karyn Polito joined local officials in Amesbury to celebrate the ribbon cutting at The Heights Amesbury, a new, mixed-income 240-unit housing development. The project is supported by a 2015 MassWorks Infrastructure Program award of $1.1 million for safety improvements along Route 150. Enhancements include signal upgrades, intersection modifications and new sidewalks to improve walkability and access

Solving the Housing Inventory Crisis and Preventing Homes from Being Treated like Hotels Main...

Over 400 Massachusetts Realtor® -members traveled to the State House on Wednesday to participate in the 32nd annual “Realtor® Day on Beacon Hill.” The annual lobbying day gave Realtors® the opportunity to discuss with their legislators the key issues that impact consumers, housing and the economy. The 2017 keynote address was provided byState Senator Karen Spilka (D – Ashland), Chair of the Senate Ways & Means Committee

AG Healey Awards Grants to Expand Opportunity for Women, Minority Workers in the Construction...

Attorney General Maura Healey today announced that her office is awarding $90,000 in grant funding to organizations across the state to promote equal opportunity for women and minority workers and small business owners in the construction industry.

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Mayor Sarno Recommends Fiscal Year 2018 Property Tax Rates to Springfield...

Mayor Domenic J. Sarno announced today his preliminary recommendation for Fiscal Year 2018 property tax rates. This will now be sent to the Springfield City Council for consideration at a meeting scheduled for Monday, December 11, 2017 at 6:00 p.m. The recommended rates are $ 19.69 for residential and $39.25 for commercial, industrial, and personal property (CIP) (per $1,000 valuation).