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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