Healey-Driscoll Administration Announces $182 Million for 1,245 New Rental Homes
Winchester — The Healey-Driscoll Administration today announced $182 million in low-income housing tax credits and subsidies to 21 rental housing developments that will create or preserve 1,245 homes across Massachusetts. In total, the administration has supported the creation of 6,071 affordable rental units since Governor Maura Healey took office in January 2023.
These awards were made possible in part through the Affordable Homes Act and by Governor Healey’s tax cuts package, which raised the Low-Income Housing Tax Credit to $60 million annually, a $20 million increase that allows the state to support more affordable housing production.
“Our administration is working on all fronts to build more reasonably-priced housing and lower costs for everyone,” said Governor Healey. “These awards are creating thousands of apartments that people can actually afford. This is helping seniors age independently and close to their families and helping workers afford to live in the communities where their jobs are. Congratulations to the municipalities and developers who are receiving these well-deserved awards today.”
“The projects we’re supporting today reflect what’s possible when government, developers and community partners work together to build the housing we need,” said Lieutenant Governor Kim Driscoll. “From rehabbing public housing to expanding housing for seniors, this round demonstrates the breadth and creativity of housing solutions across the state.”
“This funding round is about more than bricks and mortar, it’s about people,” said Housing and Livable Communities Secretary Ed Augustus. “Whether it’s a formerly homeless individual in Boston, a senior in Topsfield, or a working family in Easthampton, the homes we’re supporting will change lives. These projects exemplify the Healey-Driscoll Administration’s belief that everyone in Massachusetts deserves a safe, stable and affordable place to live.”
Nearly 420 of these homes will be deeply affordable for households earning less than 30 percent of the area median income (AMI), including many individuals and families transitioning out of homelessness. In total, 1,143 of the homes will be affordable to those earning less than 80 percent of AMI.
This round of funding includes:
$32.2 million in federal 4 percent and 9 percent Low-Income Housing Tax Credits
$31.6 million in state Low-Income Housing Tax Credits
$118.2 million in direct subsidies from the Executive Office of Housing and Livable Communities (EOHLC)
These investments will leverage nearly $450 million in private equity, supporting urgently needed affordable housing in urban, suburban and rural communities.
Awardees include developments in communities such as Boston, Foxborough, Hadley, Holyoke, Malden, New Bedford, and Worcester. ...
...The Healey-Driscoll Administration has made housing a top priority, starting with the creation of the Executive Office of Housing and Livable Communities in 2023. Since then, the Administration has initiated a comprehensive approach that includes passage of the $5 billion Affordable Homes Act, implementation of the MBTA Communities Law, creation of the Momentum Fund, the new State Land for Homes initiative to jumpstart housing production on state land, sizable increases in housing tax credits and subsidies and the elimination of renter-paid broker’s fees.
Read the full press release here.
Image: Photo from press conference of the announcement of grants. POAH's Temple Landing II in New Bedford is one of properties to receive funding the 2025 Affordable Housing Development grant.
"Temple Landing II is a new construction project to be built in New Bedford. The project is the final phase of the redevelopment of a large public housing site. This phase will offer 27 total affordable units. The non-profit sponsor is Preservation of Affordable Housing (POAH). All 27 units will be affordable to households earning less than 60% of AMI, with six units further reserved for households earning less than 30% of AMI."