BOSTON (WHDH) - Mayor Michelle Wu announced Thursday that $67 million in new recommended funding from the Mayor’s Office of Housing, the Community Preservation Fund, and the Neighborhood Housing Trust (NHT) will be invested in the creation and preservation of 802 income-restricted homes in eight Boston neighborhoods.
After evaluating proposals submitted last year, the city chose 17 projects to move forward with. The new mixed-income housing units will include rental housing for families and new homeownership opportunities for low- and moderate-income Bostonians. In addition, 160 units will be income restricted housing for seniors.
“We are partnering with community and using every tool that the City has to urgently address Boston’s housing crisis,” Mayor Michelle Wu said during the announcement at the site of the former Blessed Sacrament church. “These housing awards represent significant investments in making our communities stronger and more affordable, ensuring that Boston remains a place that current residents, families and future generations can call home.”
The proposed projects all meet the Mayor’s Office of Housing standards for zero-emissions buildings and represent transit-oriented, green development, Wu says. They will all be required to use electricity and on-site solar panels as the sole or primary fuel source.
The new funding for income-restricted housing was made possible in part by more than $32.5 million in municipal and federal funds administered by the Mayor’s Office of Housing, according to city officials. More than $13.9 million in funds come from the NHT through the City’s Linkage policy, which extracts affordable housing funds from commercial developers, and the Community Preservation Committee is recommending more than $20.4 million for the proposed projects.
In addition to city sources, the Mayor’s Office of Housing may use federal funding from the American Rescue Plan Act (ARPA) for income-restricted housing development.
In July, the City Council approved Mayor Wu’s move to commit more than $205 million in ARPA funding to address specific housing issues.
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