Boston Mayor Marty Walsh

The city of Boston intends to put $16.3 million in city funds towards the creation of 290 affordable housing units, Mayor Marty Walsh announced Wednesday, part of a series of development projects containing 515 units.

The mayor’s office stated $4.4 million from funds administered by the city’s Department of Neighborhood Development would be paired with $3.6 million in money from the Neighborhood Housing Trust – which are collected through the linkage fees on larger commercial developments – with $8.3 million in Community Preservation Act spending backed Monday by the city’s Community Preservation Committee. The CPC also backed the mayor’s proposal to spend a further $5 million to buy existing rental units and convert them to income-restricted properties, and $3.8 million to support a Boston Home Center program for first-time buyers.

The Dudley Terrace development in Dudley Square will also receive money to preserve 56 affordable units, and the redevelopment of the Whittier Street Apartments will receive money as part of the Choice Neighborhoods Initiative to build 52 units rental housing, of which 48 will be affordable or workforce housing.

The projects in line to receive CPA money are:

Boston to Spend $16.3M to Create 290 Affordable Units

by Banker & Tradesman time to read: 1 min
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