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Baker Administration Announces $118 Million in Funding for Affordable Housing - 10 of 28 projects funded MACDC members!

July 18th, 2019 by Nadine Sanchara

The Baker-Polito Administration, on July 18, announced $118 million in funding for the production and preservation of 1,581 affordable homes. Eighty million dollars in government funding, together with another $38 million in low income housing tax credits will fund 28 projects and support the construction and renovation of 1,349 affordable homes and 273 units for extremely low-income households.

Projects will be spread across several communities in Massachusetts and include three transit-oriented projects, five projects for seniors, and two public housing rehabilitation projects.

Of the 28 projects funded, 10 are being undertaken by nine MACDC members: Nuestra Comunidad Development Corp., Dorchester Bay EDC, Urban Edge, Mission Hill Neighborhood Housing Services, The Neighborhood Developers, North Shore CDC, B’nai B’rith Housing, The Women’s Institute, and Worcester Common Ground.

Nuestra Comunidad’s Bartlett Station Building A project, part of a multi-phase redevelopment of a former MBTA lot in Roxbury, will offer 42 new rental units (30 of which will be affordable, and 12 that will be restricted for extremely low-income households).

Dorchester Bay EDC’s Dudley Terrace Apartments project in Dorchester, will renovate 56 affordable rental units (20 of which will be further restricted for extremely low-income households, including formerly homeless households).

Urban Edge’s Holtzer Park project, a new construction transit-oriented development in Jamaica Plain, will offer 62 new rental units (44 of these units will be available to low-income households, 13 of which will be further restricted for extremely low-income households, including formerly homeless households).

The Neighborhood Developers’ St. Therese Condo project in Everett will consist of the redevelopment of a site as low-income housing with services for seniors. Phase I of the project will feature 44 affordable units for seniors (eight that will be further restricted for extremely low-income seniors). Phase II will feature 33 affordable units for seniors (six that will be further restricted to extremely low-income seniors).

North Shore CDC’s Harbor Village project in Gloucestor is a mixed-use project consisting of both affordable rental units and commercial/retail space in the city’s downtown area. When completed, the project will offer 30 affordable units (with eight being further restricted for extremely low-income households).

B’nai B’rith Housing’s Senior Residences at The Machon will offer 38 new affordable rental units for senior households (eight further restricted for extremely low-income senior households).

The Women’s Institute’s Terrapin Ridge project, a new construction housing project for families in Sandwich, will offer 30 new affordable rental units (with 14 further restricted for extremely low-income households).

Worcester Common Ground’s 126 Chandler, a new construction and adaptive re-use housing project, will offer 31 units to low-income households (nine of which would be further restricted for extremely low-income households).

Thank you to the Baker Administration for providing support for affordable housing in the Commonwealth, and congratulations to all awardees!

 

 

 

 

 

 

 

 

 

 

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MACDC Notebook Archive

July 3rd, 2019 by John Fitterer
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MACDC Announces Eastern Bank to Award $250,000 in Grants for CDCs Through the Community Investment Tax Credit Program

July 1st, 2019 by

 

The Massachusetts Association of Community Development Corporations (MACDC) has announced that Eastern Bank has renewed its commitment to the Community Investment Tax Credit (CITC) program by pledging $250,000 in grants to participating Massachusetts Community Development Corporations (CDCs). The announcement was made by Quincy Miller, Vice Chair and President of Eastern Bank, at the 10th Anniversary Celebration of the Mel King Institute on June 25th at the Boston Park Plaza. Eastern Bank was the Presenting Sponsor of the event. This is the fourth consecutive year the Eastern Bank Charitable Foundation is awarding grant funding to the CITC program. Since the inception of Eastern Bank’s participation in the program in 2016, the bank will have contributed more than $1 million in grants to organizations participating in the CITC program.

In 2018, Certified CDCs in Massachusetts, which include all organizations participating in the CITC program, accomplished the following:

  • Homes Built or Preserved: 1,535
  • Job Opportunities Created or Preserved: 4,305
  • Entrepreneurs Provided Technical Assistance: 1,369
  • Families Supported with Housing, Jobs or Other Services: 84,224
  • Community Leaders Engaged: 1,910
  • Investment in Local Communities: $801.5 million.

“Affordable housing and community development create pathways to prosperity, and Eastern Bank is committed to standing alongside the leaders and organizations advocating for these issues,” said Miller. “Thank you to the CDCs who are doing incredible work in Boston and across the Commonwealth in creating new opportunities for all, and congratulations to the Mel King Institute on celebrating 10 years of leading our neighborhoods in community building.”

The CITC program provides a 50% refundable state tax credit for donations of $1,000 or more to participating CDCs.  Because the donation is refundable, organizations, such as foundations and donor advised funds, can support CDCs across Massachusetts through the program as well as individuals and businesses. CDCs can apply for an Eastern Bank grant at www.easternbank.com/foundation.

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