Millions of dollars in low-income tax credits and subsidies have once again been awarded in Massachusetts, with a goal of creating or preserving 1,200 rental units. That includes over 200 in the Pioneer Valley and Berkshires.
Governor Maura Healey announced Thursday that some $182 million in low-income housing tax credits and subsidies will be awarded to projects throughout the commonwealth.
The governor detailed the awards in Winchester, home to one of the projects, “Waterfield Commons,” which is expected to offer 56 affordable and market rate units by an MBTA stop.
“We're going to touch communities from Ayer to Boston, Cambridge, Easthampton, Foxboro, Framingham, Hadley, South Holyoke, Lee, Malden, New Bedford, Stoughton, Topsfield, Wareham, Worcester and more,” she listed off. “We're touching all parts of the state.”
The announced support will go toward a total of 21 rental housing projects, with aims to “create or preserve 1,245 homes.”
It’s a new round of project support. Last year featured Healey announcing $227 million in state and federal tax credits and subsidies for over 1,800 rental units.
This year’s allotment features several projects in the Pioneer Valley, as well as one in Berkshire County.
In Lee, funding will support the second phase of the Eagle Mill development - a 44-unit venture that’ll include 16 units reserved for families earning less than 60 percent of the area median income and eight making less than 30 percent.
There’s also the EconoLodge redevelopment project in Hadley helmed by the Valley Community Development Corporation – at least 50 affordable units – and the Ferry Street project in Easthampton involving Home City Development Inc. - 96 units, with 91 reserved for households making under 60 percent of AMI, 27 of which are reserved for those making under 30 percent, the Healey administration says.
And in Holyoke, the Holyoke Housing Authority is receiving support for the final phase of its decade-long South Holyoke Homes project. It’s expected to add 40 affordable units of rental housing to the city.
Speaking with WAMC last year as planning work continued, HHA Executive Director Matthew Mainville said demand was showing no signs of waning.
"There's a huge, pent-up demand, most times on both the state/federal public housing and our Section 8 wait list - wee have a wait of about four or five years before people get on and are able to take advantage of our units,” he said of the housing authority that serves over 2,000 families. “That’s one of the driving reasons we recognize that production of housing is critical as well.”
According to the state’s Executive Office of Housing and Livable Communities, Holyoke will receive at least $2.26 million in state and federal low-income housing tax credits and $4.3 million in HLC subsidies.
In Lee’s case, it’s $3.65 million in such tax credits and $3 million in subsidies, with Hadley receiving $1.9 million in LIHTC and $340,000 in subsidies.
Of the four western Mass. projects, work on 11 Ferry Street in Easthampton received the most support, totaling $13.6 million in HLC subsidies, plus $5.2 million in tax credits.
Thursday’s announcement featured the Healey administration touting some 6,000 rental units created since the governor took office, as well as the $5 billion housing bond bill she signed into law last year – an effort to try and foster housing developments in the face of an ongoing housing shortage, reiterated by State Housing Secretary Ed Augustus.
“We have a housing shortage here in Massachusetts, and we are using every tool at our disposal to build more and bring down costs, which is why 90 percent of the units we're funding today will be guaranteed affordable for seniors and families in 16 communities across the state,” he said.
The news comes a month after the Healey administration released its “Comprehensive Housing Plan for Massachusetts,” outlining how the state needs to add at least 222,000 units between now and 2035 to “stay competitive and lower costs.”
