State to help finance creation of apartments
Housing being developed in Worcester, Lunenburg, Fitchburg, Southbridge and several other communities will benefit from nearly $80 million in funding and $38 million in tax credits the state awarded Thursday to support affordable housing.
The Affordable Rental Housing awards, announced by Gov. Charlie Baker on Thursday, will support the preservation and production of 1,581 rental units, including 1,349 affordable units of which 273 units will be reserved for extremely low-income households.
The governor said his administration has already invested more than $1 billion in affordable housing since 2015, resulting in the production and preservation of more than 17,000 housing units, including 15,000 affordable units. The Housing Choice bill will facilitate the production of more housing units.
The Department of Housing and Community Development is awarding the nearly $80 million in direct subsidies from seven state bond accounts and federal HOME fund. The $38 million in state and federal Low Income Housing Tax Credits will generate more than $260 million in equity to support 28 projects.
Mike Kennealy, Housing and Economic Development secretary, said in a news release that the housing crisis in Massachusetts has far-reaching effects and is a major obstacle to long-term growth.
"Our workforce and low-income households need more housing options that connect them to employment opportunities, transportation and amenities," he said. He added that the funding and tax credits "will further diversify our housing portfolio and help more families access stable housing."
A 31-unit new construction and adaptive reuse project at 126 Chandler St. in Worcester is among the four projects in Worcester County that will benefit from Thursday’s awards. The affordable housing project, sponsored by the nonprofit Worcester Common Ground, will revitalize a long-vacant mill building and construct new units in the Piedmont neighborhood.
In Southbridge, a former school is being converted into Wells School Apartments, 56 affordable rental units for residents 55 and older.
Two historic buildings and a new five-story building will create the Moran Square redevelopment in downtown Fitchburg. The project will include commercial/retail space, as well as 44 new mixed-income rental units. Twenty-five of the units will be affordable.
Lunenburg Senior Living, located on the site of a former amusement park, will offer 70 additional new rental units for seniors. Sixty-four will be considered affordable.
Video: Worcester By Bike