Walsh announces 459 new affordable housing units across Boston
The Walsh administration announced Wednesday more than $26 million in funds to support affordable housing projects, including 459 new units across seven neighborhoods.
More than half of the units are reserved for middle- to low-income residents. Additionally, officials said, a majority will be financially accessible to households that make 60 percent or less of the area’s median income.
“We have to continue this growth, continue creating opportunities for people to stay in the city of Boston, particularly low-income families and middle-class families,” Mayor Martin J. Walsh said at the former Knights of Columbus Hall, a building in the North End slated to be converted into 23 units of senior housing.
A lion’s share of the funding for the city’s new units — $18 million — comes from the Community Preservation Fund, a reserve derived from a 1 percent tax on residential and commercial property created by a ballot measure passed in 2016. Under the law, the fund can only be used for affordable housing, historic preservation, open space, and public recreation.
Walsh and the committee that oversees the preservation fund recommended last week city projects to receive support from the fund, several of which were included in Wednesday’s announcement.
The rest of the funding for the affordable housing units comes from the Department of Neighborhood Development and a trust derived from the city’s linkage policy, which charges a fee to commercial developers.
The new units represent a mix of properties available for rent or for ownership. Tenants within certain income ranges will be eligible for aid including down payment assistance as well as financial and real estate counseling.
The 10 developments receiving funding are spread across seven neighborhoods, including East Boston, Dorchester, and Mattapan.
Seven of those developments feature units set aside for seniors, while others are reserved for artists or formerly homeless residents.
The initiative will also preserve 56 current units of affordable housing.
A portion of the funds will also be directed to the Acquisition Opportunity Program and the Boston Home Center, initiatives aimed at assisting residents with secure housing.
The Walsh administration has set a goal to create 69,000 new units of housing in Boston by 2030. At the announcement — attended by funders, developers, city officials, and residents — Walsh, touched on how essential community partnerships were in establishing new housing projects.
“It takes the entire village to create this type of housing,” he said.