Massachusetts preserved 4,397 units of affordable rental housing during 2015 – the most ever in a single year – according to data released yesterday by the Community Economic Development Assistance Corp. (CEDAC).

CEDAC is a public-private community development finance agency that provides financial and technical assistance to nonprofits involved in affordable housing development and preservation, agencies that promote workforce development and child care facilities that serve families in low-income communities.

CEDAC’s data shows that 5,259 total units from 38 project developments across the state were preserved using various types of state financing in 2015. The projects span the state and consist of large- and small-scale developments in both urban, suburban and rural communities.

“Preservation is a critical part of the affordable housing equation and a priority in the state,” Bill Brauner, CEDAC’s director of housing preservation and policy, said in a statement. “There are a variety of federal and state incentives available to support affordable housing in Massachusetts. It is quite an achievement for the commonwealth when more than 5,000 units of housing are preserved and it shows that many of our innovative tools are working effectively.”

Massachusetts Sets Affordable Housing Preservation Record

by Banker & Tradesman time to read: 1 min
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