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.
Augustus, Driscoll Tapped to Chart More Housing Reforms
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.
Hot Property: The Westcott
A $69.1 million financing package was completed for the development of a mixed-income community near commuter rail and bus service in Swampscott.
Banks Have a Powerful Tool Many Aren’t Using
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.
SVB Banker, Three CRE Figures Named ‘Outstanding Young Leaders’
Three figures in the local commercial real estate scene and one local banker were honored by the Greater Boston Chamber of Commerce.
Six Housing Projects Get CommonWealth Builder Funding
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 Names First Tranche of Developers for City-Owned Parcels
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.
Brockton Property Gets Financing for Updates, Extended Affordability
A $12.9 million permanent loan from MassHousing will extend affordability restrictions and pay for capital improvements at a 106-unit Brockton property.
Financing Package Pays for Updates to Springfield Housing
A financing package provided by federal, state and local sources will preserve 45 units of affordable housing and renovate a Springfield property.
Agawam’s Rosewood Way Gets MassHousing Financing
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.
Housing Organizations Launch Website for LMI Homebuyers
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.
62-Unit Chelsea Housing Project Gets ARPA Funding
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.
Pac10 Lofts Developer Closes on Financing
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.
Newcastle Saranac Upgrades Completed Under New Ownership
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.
288 Affordable Units Preserved in Brockton
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.
Personnel File – No. 279
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
Ground Broken on Latest Updates to BHA Property
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.
Mass. Gateway Cities See Price Records
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.
To Close the Racial Wealth Gap, Scale Up CommonWealth Builder
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.
Buyers Can Do Better Than FHA
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.
