February 6, 2020 Comments Off on $61M Awarded on Affordable Projects Across Mass. Views: 657 Boston New England News, Top Boston

State and local officials have announced affordable housing awards for 11 projects across the Commonwealth of Massachusetts, mainly in and around Boston. Announced at the site of the future Grace Apartments in East Boston, the awards will advance the development of 587 new rental units, including 443 rental units affordable for low-and extremely low-income households.

The Department of Housing and Community Development (DHCD) awarded $44.7 million in direct subsidy funding and allocated $16 million in state and federal Low Income Housing Tax Credits (LIHTC). Additionally, DHCD has reserved 37 Massachusetts Rental Voucher Program project-based vouchers (PBVs) and 68 Housing Choice Section 8 PBVs to support long-term affordability.

“Affordable housing is our city’s number one need, and affordable housing is our number one focus,” said Boston Mayor Martin J. Walsh. The city is contributing $1.7 million in local funding to the construction of Grace Apartments.

Pictured: State and local officials announce the DHCD awards.

Read more at Mass.gov

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Tags: Affordable, Apartments & Multifamily, Development, Financing

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$61M Awarded on Affordable Projects Across Mass.

Paul Bubny