Isabel Cruz is a familiar face to some in the housing advocacy world from her time at MHP. Now, she’s taking that experience to lead Boston-area CRA work at M&T Bank as it looks to build on the work of the former People’s United Bank.
Boston Mayor Michelle Wu appeared at the Massachusetts Affordable Housing Alliance’s office in Dorchester yesterday to tout her proposal to spend $60 million in federal COVID aid on affordable home ownership programs.
The mergers and acquisitions transforming the Massachusetts banking industry this year will also have a significant effect on another group: the community development organizations that partner with banks on affordable housing and lending programs.
Dismantling the structures that perpetuate inequities for Bostonians should be a high priority for the next mayor. The reality is the future of the entire city of Boston depends on it.
It is hoped the program will give city families and residents who earn area median income or below a leg up on all-cash buyers in the city’s expensive housing market.
