MassHousing, MHIC Launch $75M ‘Equitable Developers Fund’
Two of Massachusetts’ biggest affordable housing lenders are teaming up to launch a fund aimed at growing the state’s cadre of minority developers.
Two of Massachusetts’ biggest affordable housing lenders are teaming up to launch a fund aimed at growing the state’s cadre of minority developers.
Gov. Maura Healey is still waiting for the legislature to act on her big housing bill, but she paused Monday to swear in two panels of developers, municipal leaders and advocates Monday, charged with charting more housing production reforms.
A $69.1 million financing package was completed for the development of a mixed-income community near commuter rail and bus service in Swampscott.
With rules around special purpose credit programs now clarified, big names in the industry are turning to this 50-year-old tool to make a big difference in the lives of New England families.
Three figures in the local commercial real estate scene and one local banker were honored by the Greater Boston Chamber of Commerce.
Six development projects received $44.6 million in state funding under a program that Gov. Maura Healey is proposing to expand as a strategy that increases wealth-building through home ownership in minority neighborhoods.
Boston Mayor Michelle Wu’s push to turn empty, city-owned lots into housing reached its first major milestone Thursday when the mayor designated four development teams to transform 14 parcels into around 63 units of affordable for-sale housing.
A $12.9 million permanent loan from MassHousing will extend affordability restrictions and pay for capital improvements at a 106-unit Brockton property.
A financing package provided by federal, state and local sources will preserve 45 units of affordable housing and renovate a Springfield property.
A Springfield-based nonprofit will develop 62 affordable apartments and a community building in Agawam after obtaining financing from state and federal sources including MassHousing.
Low- and moderate-income homebuyers in Massachusetts have a new tool that will connect them with resources to manage different stages of the homebuying process.
A 62-unit mixed-income housing project in Chelsea is the first in Massachusetts to receive homeowner production funding from ARPA through a MassHousing program.
A Lawrence mill-to-housing conversion that was delayed by water damage during construction has closed on $40.8 million in MassHousing financing and is expected to reach full occupancy by the end of 2022.
A five-year-old Boston affordable housing preservation program helped a local nonprofit acquire and upgrade a 97-unit property in South End and Lower Roxbury where income restrictions had been set to expire.
Boston-based Beacon Communities has received $38.5 million in financing to renovate a pair of Brockton housing complexes and preserve affordability restrictions for at least 30 years.
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
A partnership between Boston-based Trinity Financial and East Boston Community Development Corp. has begun construction of the third and final phase of the Overlook Terrace at Orient Heights project, modernizing the East Boston public housing complex.
Sales of homes and condominiums in these mid-sized, older industrial hubs are rising as buyers, many of them first-timers, search for more affordable alternatives after being priced out of Boston and its ever more expensive suburbs.
Massachusetts’ CommonWealth Builder program effectively reduces the price of new housing units by subsidizing developers up to $150,000 per home. And unlike traditional affordable housing, it allows homeowners to realize the full market appreciation of their unit if they live there for at least 15 years.
Real estate professionals who do not make their clients aware of non-FHA options are doing them a great disservice. In this hot housing market, LMI buyers need more buying power, not less.