When Boston Mayor Marty Walsh announced four years ago that the city would create 53,000 new housing units by 2030, the general consensus was that it wasn’t enough, but at least it was something. But it turns out it’s really not enough – with the population of Boston now projected to reach nearly 760,000 by 2030, the mayor today announced the city will increase its housing production goal to 69,000.

Of those units just under a quarter, or about 16,000, will be leased at rents affordable to low- and middle-income residents.

“Creating affordable housing and addressing housing costs is critical as we preserve the diversity and character that makes Boston a city for all residents,” Walsh said in a statement. “Homes are where every resident in every neighborhood deserves to feel safe and supported. This updated plan increases Boston’s affordable housing goals, as we ensure all families who wish to live in Boston are supported. In addition, we’ll continue to build bridges with cities and towns throughout our region to ensure all residents have accessible and affordable housing options.”

The city will budget about $50 million annually to support housing construction.

Though Boston has lead the way in housing construction, Walsh has been working with the Metropolitan Area Planning Council and leadership in nearby cities and towns to create new housing targets in surrounding municipalities. Those are expected to be released next month.

Walsh Increases Boston’s 2030 Housing Production Target

by Banker & Tradesman time to read: 1 min