Awards fund 1484 housing units across Massachusetts
Boston – September 16, 2015 – (RealEstateRama) — Governor Charlie Baker and Undersecretary of Housing and Community Development Chrystal Kornegay announced awards for the 2015 competition to fund affordable rental housing development, renovation, and preservation in the Commonwealth. The funding advances the Baker-Polito Administration’s commitment to ensuring access to quality, affordable housing.
Governor Baker and Undersecretary Kornegay made the announcement today in Holyoke at one of the chosen sites — Lyman Terrace — alongside Mayor Alex B. Morse and the project’s developer.
The total funded projects represent 1,484 total housing units, including 1,119 affordable units, located in every region across the Commonwealth. The Administration is awarding $29,202,652 in federal and state tax credits, which will generate approximately $182 million in equity to the recommended projects. In addition, the Administration is awarding $45.8 million in subsidy funds to support these projects.
“Affordable housing forms a foundation for economic growth, while strengthening our neighborhoods and communities across the Commonwealth,” said Governor Charlie Baker. “Improving access to housing has a profound effect on childhood development, school performance, and health, creates local jobs and increases our ability to attract and retain workers – a vital part of Massachusetts’ global competitiveness.”
“Helping cities and towns construct and rehabilitate affordable housing that works in their community while increasing access to safe, permanent homes is an important part of our support for municipalities and families,” said Lieutenant Governor Karyn Polito. “The benefits that come from providing residents with stable homes cannot be overstated- for the families, neighborhoods, and for the Commonwealth.”
The Department of Housing and Community Development will fund projects with a combination of Low Income Housing Tax Credits, federal HOME funds, and money from six state bond accounts. Projects serve a wide variety of constituents, including individuals and families transitioning out of homelessness, persons with disabilities, the elderly, and veterans. Many leverage previous investments in mass transit to increase access to jobs and services, compounding the beneficial effects of housing and security.
In the 2015 Rental Rounds the Baker-Polito Administration made significant investments in affordable housing, building and preserving units in 15 communities across the Commonwealth, for a total of 23 projects. Reflecting the Baker-Polito administration’s commitment to creating more housing units for homeless families, the administration prioritized applications that included a 10% allotment for individuals and families who are, or are at risk of becoming, homeless. The 2015 awards fund more units for the homeless than the previous year’s competitive rental round, and will help achieve the goal of closing all overflow facilities, such as hotels and motels, currently used for housing homeless families.
“Improving access to affordable, stable housing strengthens our families and all our communities,” said Housing and Economic Development Secretary Jay Ash. “Ensuring that communities can offer stable and affordable housing is a cornerstone of economic growth.”
“I thank Governor Baker and his administration for sharing our vision of a densely populated, vibrant downtown,” said Holyoke Mayor Alex B. Morse. “The state’s investment in Lyman Terrace will greatly help the City’s efforts to keep our community intact. One of the best things we can do to keep and grow our community is to provide for the development of quality neighborhoods. Now, with the state’s help, we can build a downtown that leaves no one behind.”
“These funds provide affordable housing to families from Wellfleet to Springfield, with effects that will be felt through the state,” said Undersecretary of Housing and Community Development Chrystal Kornegay. “I look forward to continued partnerships with municipalities, neighborhoods, communities and engaged citizens as we work to improve housing access in Massachusetts.”
Funded Projects Include:
Village Green II is a new construction project located in Barnstable, MA. The project will be located adjacent to the newly-completed Village Green I and will offer affordable units for families.
Bartlett Place in Boston is the first phase of a new construction and neighborhood revitalization project near Dudley Square. When the project is completed, the project will offer 38 units of affordable family housing, with 12 units reserved for households earning less than 30% of the area median income.
Beverly Street is a major new construction project located near Boston’s North End and the new Greenway linear park. Beverly Street is a mixed-income and mixed-use project that will include a new hotel as well as retail space, parking, and rental housing, including housing intended to serve working families.
Coppersmith Village is a new construction, mixed-income, transit-oriented rental project located on the waterfront in East Boston, MA. When completed, Coppersmith Village will include 56 units for families, Forty-one units will be affordable, with eight units reserved for households – including homeless families — earning less than 30% of the area median income.
Greater Four Corners is a preservation project located in Boston. The sponsor has assembled several foreclosed properties and will use funds to rehabilitate the properties and assist former homeowners who now are tenants.
Waverly Abby is a preservation and new construction project located in the Brighton neighborhood of Boston and intended to serve several highly vulnerable populations. When completed, Waverly Abby will offer 28 units of affordable housing for formerly homeless young adults, including formerly homeless young mothers with children.
Wayne at Bicknell in Boston is a preservation project with multiple buildings and 72 units of affordable family housing.
Coady School in Bourne includes both new construction and the adaptive re-use of a former school. The completed project will offer 58 units of rental housing for persons age 55 and older. Twelve units will be set aside for households earning less than 30% of the area median income.
455-463 Cambridge Street is a preservation project located in Cambridge, MA. The project includes 10 total units for families. Five of the units will be reserved for households earning less than 50% of the area median income, with two of the five units reserved for households earning less than 30% of the area median income. The new rental restrictions being placed on the project will protect the affordability of the project, which otherwise could become market rate housing in one of the strongest markets in Massachusetts.
Briston Arms Apartments in Cambridge is a preservation projected located near the Fresh Pond neighborhood of the city. When rehabilitation is completed, the project will offer 154 units of affordable family housing, with 16 units reserved for households earning less than 30% of the area median income. The project will offer affordable housing for many years to come.
The Kendall in Chicopee is a single room occupancy property. The building has been deteriorating for some time; the sponsor will use state and city funds to undertake a full rehabilitation. The completed project will offer 38 enhanced SRO units in a downtown location near services and transit with eight units reserved for households earning less than 30% of the area median income. DHCD is supporting the project with federal and state Low Income Housing Tax credits and Housing Innovation funds.
Island Creek Village North is a new construction project located in Duxbury and sponsored by Beacon Communities Development. This project is part of the extensive and ongoing redevelopment of the Duxbury site. When completed, Island Creek Village North will include 120 units of family housing, with 49 affordable units, including 12 units reserved for households earning less than 30% of the area median income.
First Step Inn Initiative is an adaptive re-use project located in downtown Fall River, MA, and intended to serve homeless individuals. When construction is finished, the First Step Inn will provide supportive housing for 50 homeless individuals.
Knitting Mill in Fall River is the historic rehabilitation of a 149,000+ square foot mill complex built in 1879 and located in the Wampanoag Mills historic district of the city. The ninety-nine units will be affordable, with 25 of the 99 units reserved for seniors earning less than 30% of the area median income.
Lyman Terrace is a major preservation and neighborhood revitalization project located in Holyoke, MA. The City of Holyoke also has committed funds to the project which is the first phase of the extensive redevelopment of a troubled family public housing project.
Ludlow Mill is a historic re-use project located in Ludlow, MA. When completed, the project will include 75 units for seniors, including 66 affordable units. Fifteen of the affordable units will be reserved for seniors earning less than 30% of the area median income.
Gateway Residences on Washington is a new construction transit-oriented project located in Lynn, MA. When completed, Gateway Residences will offer 70 units for families, with 53 affordable units. Seven of the affordable units will be reserved for households earning less than 30% of the area median income, including households making the transition from homelessness. The project is located directly across from North Shore Community College and an MBTA commuter rail station.
115 Washington Street in Malden is a single-room occupancy project serving formerly homeless and chronically homeless individuals. When rehabilitation is completed, ten units will serve homeless individuals earning less than 30% of the area median income, and four units will serve homeless individuals with incomes of up to 50% of the area median income.
Kaszenek House in Malden is a single-room occupancy project intended to serve as transitional housing for formerly homeless individuals with disabilities. The rehabilitated project will offer 11 units for individuals or households earning less than 30% of the area median income.
Congress Street is a significant neighborhood revitalization initiative in the Point neighborhood of the City of Salem, MA. The project consists of eight buildings and 64 units scattered throughout the neighborhood. Sixteen units will serve households earning less than 30% of the area median income. Seven units will be reserved for formerly homeless households.
Mystic Waterworks in Somerville is the redevelopment of the Metropolitan Water Resources Authority’s Mystic Water Works site. The completed project will result in 25 one-bedroom units for seniors and persons with disabilities, including five units reserved for persons earning less than 30% of the area median income.
E. Henry Twiggs Phase I is a preservation project located in Springfield, MA. When completed, the project will include 75 improved units for families, all of which will be affordable. Eight units will be reserved for households earning less than 30% of the area median income, including households making the transition from homelessness.
250 Gull Pond Road is a new construction project in Wellfleet, MA. When completed, Gull Pond Road will include six affordable units for families, with two units reserved for households earning less than 30% of the area median income, including those making the transition from homelessness.
Paul McMorrow (HED) – paul.mcmorrow (at) state.ma (dot) us
Kristen Sabella (HED) – Kristen.j.sabella (at) state.ma (dot) us