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September 27, 2021
 
Mass. Nonprofits Share $11.5M to Bolster Affordable Housing

August 16, 2021 — Nonprofits across Massachusetts, in collaboration with community development corporations and others, recently were awarded $11,578,537 to support affordable housing developments in cities and towns from Boston to Northampton.

“These commitments, which represent a strong second quarter of lending activity, support a variety of affordable housing projects that are tailored to the needs of the community,” said Roger Herzog, executive director the Boston-based Community Economic Development Assistance Corporation, a public-private community development finance institution

“We are proud to support our non-profit development partners as they create affordable and supportive housing for families, seniors, and veterans. These projects will help ensure that some of our most vulnerable populations have a safe, affordable place to call home.”

Receiving funding were the following:

  • Caribbean Integration Community Development, Mattapan: $750,000 to create 30 units of affordable, supportive housing for seniors, with 11 units designated for households at or below 30% of area median income (AMI).

  • The Community Builders, Boston: $1 million predevelopment for the first phase of a major public housing redevelopment in Jackson Square.

  • The Community Builders, Worcester: $400,000 in predevelopment financing to subdivide a 36,595-square-foot acre lot from the existing Fruit Sever Apartments site and construct 49 new affordable apartments.

  • The Neighborhood Developers, Chelsea: $500,000 in predevelopment financing to acquire a vacant site one block from the MBTA Silver Line Station and create 66 affordable family units.

  • North Star Family Services, Leominster: $100,000 in predevelopment financing to purchase an undeveloped site to will create 14 units of permanent supportive housing for formerly homeless families.

  • Soldier On, Tewksbury: $225,000 in predevelopment financing to purchase an undeveloped parcel, to construct 21 units of permanent supportive housing for veterans who are homeless or at risk of homelessness.

  • Valley Opportunity Council, Chicopee: $290,000 in predevelopment financing to renovate a vacant historic school building to develop into 25 rental units along with 43 parking spaces.

  • Valley Community Development Corporation, Northampton: $225,000 in predevelopment financing to combine the preservation of an existing 8-unit project on School Street with the creation of 24 new affordable townhouses on Laurel Street.

  • VietAID, Boston: $926,000 in acquisition and $250,000 in predevelopment financing Vietnamese American Initiative for Development intends to purchase three lots in Dorchester’s Bowdoin-Geneva neighborhood, where they plan to construct 38 units of permanent supportive housing for older adults.
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