Community Economic Development Assistance Corp. (CEDAC) has awarded $7.2 million in funding to various organizations across Massachusetts to develop and preserve affordable housing projects and child care facilities.

Nine projects in eight communities- Northampton, Framingham, Springfield, Boston (Dorchester and Jamaica Plain neighborhoods), Stow, Somerville, the Williamsburg/Chesterfield region in Western Massachusetts and Great Barrington-received loans. Of the $7.2 million total, organizations in Greater Boston received $525,000, while the MetroWest region was granted loans of $2.85 million and Western Massachusetts $3.8 million.

"Our non-profit community partners are actively working on projects for the preservation and development of affordable housing in Massachusetts, which is a good sign for families and individuals in need of quality housing," Roger Herzog, CEDAC’s executive director, said in statement. 

"The need to preserve quality affordable housing remains a statewide issue," Herzog continued. "Over the past 18 months, we have seen several nonprofit organizations come forward to help preserve hundreds of affordable housing units across the Commonwealth.  We are encouraged by that activity, and expect to see even more of it going forward."  

Projects include:

• $2.8 million to purchase the Tribune Apartments on Irving Street in Framingham, preserving 53 affordable units

• $2.4 million for preserve 34 units of affordable housing in Springfield at the Kenyon College Estates

• $1.1 million to develop 60 units of affordable housing on 1.23 acres of land at a former lumber yard Northampton

CEDAC Grants $7M For Affordable Housing and Child Care Facilities

by Banker & Tradesman time to read: 1 min
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