Patrick Admin Puts $190M Into Affordable Housing
Gov. Deval Patrick has promised nearly $190 million from various affordable housing programs and private investments for the construction of 32 affordable rental developments, including three in Central Massachusetts.
Patrick's office said the allocations are intended to spur housing development and create jobs.
When complete, the developments will include 1,786 units of new rental housing, the vast majority of which will be affordable. Nearly 300 of the units will be aimed at families that earn less than 30 percent of the area median income.
In Fitchburg, the Fitchburg Housing Athority and Winn Development of Boston will use $1.4 million in state low-income housing tax credits and $4.9 million in state Department of Housing and Community Development subsidies to preserve 96 affordable units at the Groop/Townview Assisted Living facility. Ten of those units will be set aside for low-income tenants.
In Northbridge, EA Fish Development will use $950,000 in federal low-income housing tax credits, $610,000 in state tax credits and $1.6 million in state DHCD subsidies to build 75 affordable rental units, eight of which are planned as low-income units.
In Worcester, Zu Development will use $1 million in DHCD subsidies to develop 10 affordable rental units as part of the Castle Hill Initiative.
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