Mayor Menino’s Leading the Way Initiative Creates Record Levels of Housing in Boston

Boston, MA – April 121, 2011 – (RealEstateRama) — Mayor Thomas M. Menino announced today that in the last decade (2000 – 2010), 20,500 new units of housing were produced in the City of Boston, 5,500 of which are affordable to low and moderate income households. The total number of housing units in Boston has increased by 8.2% from the prior decade and the number of new housing developments in the last decade exceed the number of housing starts for the past six decades.

“Building high quality housing has been a priority of my administration. New housing allows Boston to retain a talented workforce, keeps young families in the City, helps our elderly residents remain safe and creates good paying jobs,” Mayor Menino said. “We have made sure that the housing that has been built is an asset to our neighborhoods and serves households of all incomes. The Leading the Way housing initiative has been a successful partnership between the City of Boston, the State, the federal government, the community development corporations and the private development community.”

In 2000, the Mayor announced Leading the Way – a housing strategy to increase the production of new housing. In its third edition – Leading the Way has put forth clear measurable goals, harnessed both public and private resources and made housing a priority within all City agencies. In addition to the production of new housing, the City has focused on the preservation of existing affordable units, minimizing foreclosures and reducing homelessness. The increase in housing stock is one of the reasons that Boston has been able to increase its population while many cities have experienced population decreases.

“Once again, the City of Boston has shown that it is a national leader when it comes to addressing the housing needs of low and middle income residents,” Aaron Gornstein, Executive Director of Citizens Housing Association Planning Association, said. “We commend that Mayor and the City Council for stepping up to provide much-needed affordable housing opportunities.”

“We were proud to partner with the city when we were considering plans for 1330 Boylston Street and maximize housing as a critical component of the product. We share the Mayor’s goal of keeping the city and its neighborhoods vibrant and attractive to a young workforce,” said Peter Sougarides, EVP, Samuels & Associates.

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Growth of Boston’s Housing Stock

Contact:
Press.Office (at) cityofboston (dot) gov