The Stonley-Brookley development. Image courtesy of MassHousing
Six development projects received $44.6 million in state funding under a program that Gov. Maura Healey is proposing to expand as a strategy that increases wealth-building through home ownership in minority neighborhoods.
The projects in Boston and Lowell will create 220 home ownership condominium units under the CommonWealth Builder program, designed to fill funding gaps that make it more difficult for developers to build for-sale affordable housing without adding a permanent affordability deed restriction.
The latest awards, announced by MassHousing, include Urbanica’s 15-unit 120-122 Hancock St. project in Dorchester, TLee Development’s 18-unit 270 Talbot Ave. in Dorchester, Soucy Industry’s 32-unit Acre Crossing at 650 Merrimack St. in Lowell, THR Acquisitions’ 47-unit 597-599 Columbus Ave. in Roxbury, New Boston Fund/Lena Park Community Development Corp.’s 80-unit Preserve at Olmsted Green in Mattapan and Jamaica Plain Neighborhood Development Corp./Causeway Development’s 45-unit Stonley Brookley project at 10 Stonley Road in Jamaica Plain.
The program provides subsidies for income-restricted home construction in Boston, Framingham, Randolph and Massachusetts’ 26 Gateway Cities, for projects that reserve units for households earning 70 to 120 percent of the area median income. Since its inception in 2021, the program has awarded nearly $69 million to 14 projects totaling 368 units.
As part of the administration’s housing production package announced in October, Gov. Maura Healey proposes increasing funding for the CommonWealth Builder program to $100 million.
