How New Money Is Transforming the Affordable Housing Landscape
While no bill is perfect and it still only scratches the surface of affordable housing needs nationwide, federal legislation passed last year is a big step in the right direction.
The Patient Capital Behind Many Affordable Housing Projects
CEDAC’s financing and technical assistance programs have contributed to the production or preservation of over 455,000 homes statewide
LIHTC Increases Could Boost Bank CRE Investment
Area bankers say the big boost to federal Low-Income Housing Tax Credits in President Donald Trump’s “One Big Beautiful Bill” could unlock more funds even though the rest of real estate is starved for capital.
When Others Say Say No, They Give a Quick Yes
A new fund managed by Massachusetts Housing Investment Corp., led by Moddie Turay, will offer financing to preserve private but moderately-priced housing.
A Move to Expand Her Impact
After five years as CEO of major Boston nonprofit housing developer Madison Park Development Corp., Leslie Reid joined the Massachusetts Housing Investment Corp. this summer to oversee its expansion and new product development.
Berkshire’s Maiden $100M Sustainability Bond Funds Affordable Housing
Berkshire Bank is spending the proceeds from its first $100 million “sustainability bond” to affordable and workforce housing, green buildings and funding access for small businesses.
Low-Income Housing Tax Credits Are Good Business for Banks
The LIHTC program has been highly successful and has helped create over 100,000 affordable housing units in Massachusetts since its inception, and given banks many benefits outside of their tax value.
Third Way Needed for Affordable Housing Money
New taxes on real estate sales were a hot topic on Beacon Hill last week, but unfortunately, both sides have it wrong, to one degree or another.
Communities Lobby Beacon Hill for New Transfer Tax
After years of unsuccessful attempts to give cities and towns the option to tax home sales to support local affordable housing, advocates this session are putting forward a new version of the bill with more flexibility for municipalities to choose a plan that works for their community.
Lynch, Pressley Push First Citizens on Affordable Housing
With affordable housing developers nervous about losing what was a key source of financing thanks to the collapse of Silicon Valley Bank, nearly the entire Massachusetts congressional delegation is urging the bank’s buyer to follow through on SVB’s commitments to affordable housing projects.
House Advances Boston Real Estate Transfer Tax
A proposed real estate sales tax in Boston hit the House floor Monday in a late-session advancement for the controversial idea, but passage isn’t a done deal just yet.
Our Legislators Are Off in La-La Land
Beacon Hill is sitting on a mountain of federal cash. And House and Senate leaders are inexplicably giving the brush-off to calls to devote much of it to affordable housing production even as prices and rents are skyrocketing.
Blackstone Jumps into Affordable Housing, But Not in Boston
Blackstone, a private equity firm already known for its large investments in single-family rental housing, launched an affordable housing arm last week.
A Legal Perspective on Multifamily Financing and Permitting
Karen Kepler, a partner at Sullivan & Worcester, helps developers cobble together funding sources for multifamily developments and ensures smooth transitions to operate them when they’re completed.
Legislature Offers $600M from Aid Windfall for Housing
House leaders detailed a $3.65 billion spending package Monday that would invest a record budget surplus and much of the state’s surplus federal COVID aid in housing, hospitals, schools and workforce development.
Federal Low-Income Housing Grant Doubles in Size
Thanks to a coronavirus pandemic-fueled mortgage boom, states will get nearly $700 million in federal grants from a special program for low-income housing, more than double the amount distributed last year.
Boston Launches Rental Voucher Program
The city of Boston plans to spend $2.5 million this year to start a rental voucher program Mayor Marty Walsh first proposed in last year’s State of the City address.
Wu, Bok Pitch City Bonds for Affordable Housing
Boston should use its good credit rating to make a big investment in creating affordable housing, a leading candidate for mayor says.
POAH Buys 227-Unit Attleboro Portfolio
Nonprofit developer Preservation of Affordable Housing has closed on its acquisition of a 227-unit, 3-building portfolio in Attleboro.
Framingham Multifamily Project Lands $47M Loan
A proposal to convert a former shoe factory in Framingham to 258 market-rate and affordable apartments has landed construction financing.
