MAYOR WALSH ANNOUNCES $22 MILLION IN NEW FUNDING FOR AFFORDABLE HOUSING

For Immediate Release: Tuesday, February 14, 2017

Contact: Press Office, 617-635-4461

MAYOR WALSH ANNOUNCES $22 MILLION IN NEW FUNDING FOR AFFORDABLE HOUSING

Funding will create or preserve 602 units in Boston's neighborhoods; Walsh Administration has committed nearly $100 million to affordable housing

 

BOSTON - Tuesday, February 14, 2017 - Building on his commitment to create more affordable housing in the City of Boston, Mayor Martin J. Walsh today announced nearly $22 million in funding for ten affordable housing developments in neighborhoods across Boston. This funding will help preserve or produce 602 housing units, 77 units of which are reserved for homeless or extremely low-income households in Boston. Today's announcement contributes to the goal of creating 6,500 new units of affordable housing outlined in Housing a Changing City: Boston 2030, Mayor Walsh's housing plan, and supports Boston's Way Home, the administration's plan to end chronic homelessness by 2018.

"Preserving Boston's affordability is key to ensuring everyone who wants to live here can afford to do so, and I'm particularly pleased this funding will both preserve and add to our existing affordable housing stock," said Mayor Walsh. "This will help us continue to build a pipeline of affordable housing, and put us one step closer towards reaching the ambitious goals laid out in our housing plan. I want to thank the Neighborhood Housing Trust for making these funds available and supporting these worthy developments. Working together with our partners, I am proud we are building a better Boston."

The funding is made possible through more than $13 million of federal and local resources awarded by the Department of Neighborhood Development (DND), and more than $8 million of linkage funds, awarded through Boston's Neighborhood Housing Trust.

With the awarding of these funds, the Walsh Administration has now committed nearly $100 million in affordable housing funding since Mayor Walsh took office. In total, the Walsh Administration has helped create or preserve more than 3,000 units of affordable housing, which includes nearly 500 units of housing for the homeless.