$67m allocated for Mass. affordable housing
Money to help 23 developments in 21 communities, officials say
Massachusetts officials said Thursday that $67 million in state and federal funding and tax credits has been designated to build and preserve 23 affordable-housing developments in 21 communities.
In making the announcement, Greg Bialecki, state secretary of Housing and Economic Development, said the money will create 1,326 housing units and 1, 710 construction jobs in cities and towns such as Boston, Cambridge, Watertown, and Revere.
“Having good, affordable housing at every level is important to our continued economic recovery, as we work to make sure we maintain our strong, well-trained young workforce,’’ Bialecki said at a meeting in Revere where 30 new units of low-income housing are planned under the new funding.
The state allots subsidized housing money once or twice a year after evaluating applications for projects submitted by developers. This current round of funding includes $48.2 million in state and federal housing subsidies, and about $18.8 million worth of federal and state low-income housing tax credits.
The funding plan follows Governor Deval Patrick’s pledge last year to add 10,000 multifamily housing units in Massachusetts annually over the next 10 years. The Boston area especially remains one of the most expensive places to live in the United States, despite the drop in property values since the housing market’s meltdown.
“Creating affordable housing helps to generate jobs, grow local businesses and strengthen our communities,’’ Patrick said Thursday.
Projects that will benefit from the initiative include 37 new units of affordable family housing in Jackson Square in Jamaica Plain, 39 units of affordable housing for senior citizens in Roxbury, and 33 housing units that are scheduled to be built in a former school building in Dorchester. The Dorchester project is tailored for families who are homeless or at risk of being homeless, according to officials.