Governor Patrick Announces over $73 Million to Build or Preserve 1,145 Housing Units and Signs Housing Bond Bill

Projects will create growth and opportunity, over 1,900 construction jobs in communities across the Commonwealth

CAMBRIDGE – November 14, 2013 – (RealEstateRama) — Governor Deval Patrick today announced over $73 million in affordable housing resources and tax credits for projects in 17 communities across the state, building on the Patrick Administration’s commitment to improving housing infrastructure to support growth and opportunity throughout the Commonwealth. During the announcement, Governor Patrick signed H.3492, “An Act Financing the Production and Preservation of Housing for the Low and Moderate Income Residents.” The bill provides a total of $1.4 billion over 5 years for 11 capital funding programs that rehabilitate and modernize state-assisted public housing; preserve the affordability and income mix of state-assisted multifamily developments; and support homeownership and production of rental housing opportunities for low and moderate income residents, elderly, persons experiencing homelessness, persons with disabilities and veterans.

“Creating or preserving affordable housing helps to generate jobs, grow local businesses and strengthen our communities” said Governor Deval Patrick. “Government’s role is to help people help themselves, and sustainable affordable housing will create growth and opportunity in our communities that will last for generations to come.”

The funding was announced at the Putnam Square Apartments project in Cambridge, where 94 units of elderly housing will be preserved with the support of $2.8 million in federal tax credits and housing subsidies and will create 34 jobs. In all, the 24 projects across Massachusetts will create 1,145 units of housing and an estimated 1,935 construction jobs.

The $73.6 million investments announced today includes more than $14.8 million in federal low-income housing tax credits, $7.8 million in state low-income housing tax credits and $5.1 million in state and federal housing program subsidies.

Of the 1,145 units preserved or created, 1,084 will be affordable to low- and moderate-income individuals and households, with 228 units reserved for extremely low-income families, including those making the transition from homelessness.

Since 2007, Governor Patrick has worked with the Legislature and Congress to direct over $1 billion in federal and state tax credits and state housing program subsidies to projects that improve the state’s affordable housing, create jobs and build stronger communities. These investments have generated more than 23,000 jobs and 18,000 housing units; 16,000 of which are affordable.

“The Patrick Administration has taken a comprehensive approach to housing in the Commonwealth that prioritizes permanent solutions that lead to stable, appropriate housing,” said Aaron Gornstein, Undersecretary for the Department of Housing and Community Development and Chair of the Interagency Council on Housing and Homelessness. “By committing to expanding and improving affordable housing stock in Massachusetts, we are reducing homelessness and creating new opportunities for families.”

In November 2012, Governor Patrick announced a goal of creating 10,000 multi-family units of housing per year, the first production goal of this kind set by any state in the country.  Increasing market-rate housing for families and individuals is part of the Patrick Administration’s comprehensive plan for improving housing at all levels. Along with creating new housing, the Administration has made significant investments in the Commonwealth’s public housing stock, by preserving and improving the 46,000 housing units in the system through increased capital funding, increased operating subsidies, and changes in management of those resources.

“As the cost of owning a home in Massachusetts continues to rise, it is critical that we work to invest and support affordable housing initiatives,” said Senator Stephen M. Brewer.  “This investment will provide relief for more residents in the Commonwealth that have a critical need for safe and realistic housing options.”

“The Patrick Administration has taken a comprehensive approach to invest in the growth and expansion of our affordable housing stock for families across the Commonwealth,” said Senator Jamie Eldridge. “Projects such as the Putnam Square Apartments take strong steps to help reduce homelessness, create new job opportunities and strengthen our communities.”

“The legislature has shown unwavering support for public and affordable housing in the Commonwealth by passing the largest ever – $1.4 billion –housing bond bill,” said Representative Kevin Honan. “This bill provides $500 million for the modernization of our public housing stock, which is vital for our local housing authorities to get vacant units back online. It also provides for innovative strategies to address homelessness, funds to promote mixed use and transit oriented development, and critical housing services for the mentally and physically disabled. I want to thank my colleagues for the passage of this bill and Governor Patrick for his continued commitment to public and affordable housing.”

“I am pleased by the investment that the Patrick administration is making in affordable housing here in Cambridge and across the Commonwealth,” Representative Jay Livingstone. “I look forward to finding more ways to increase our affordable housing stock to start addressing the overwhelming needs that our citizens have for affordable housing.”

“This investment in Cambridge’s affordable housing stock represents just one part of the Patrick Administration’s good work towards ensuring that all citizens of the Commonwealth can afford to live here,” said Representative Dave Rogers. “Helping Cambridge maintain these units keeps people in their homes while maintaining the economic and generational diversity that make Cambridge such a vibrant place to live.”

Funding, which is made available through the Department of Housing and Community Development, will support the following projects:

Bridgeview Center is a new construction project located in Boston and sponsored by Toward Independent Living & Learning (TILL).  DHCD will support Bridgeview with Low Income Housing Tax Credits, federal HOME funds, and state bond subsidies, and the city of Boston also will provide funds to the project.  When completed, the project will include 61 affordable units for families, with 14 units reserved for households earning less than 30 percent of area median income.

Wayne at Columbia is a preservation project located in Boston and sponsored by John B. Cruz.  DHCD will support the project with Low Income Housing Tax Credits and state bond subsidies, and the city of Boston also will support the project with subsidy. Wayne at Columbia consists of multiple buildings in need of rehabilitation. When the rehabilitation work is completed, the project will feature 83 total affordable units, with nine units reserved for households earning less than 30 percent of area median income. Cruz Development now is  completing earlier phases of the Wayne projects. When the earlier phases are completed, the rehabilitation of Wayne at Columbia will begin.

Montello Welcome Home is a new construction project located in Brockton and sponsored by Father Bills and Mainspring. DHCD will support the project with state bond funds, and the city of Brockton also will provide support to Montello. The completed project will provide 22 affordable units for veterans, homeless individuals, and homeless families.  The sponsor also will provide new tenants with support services.

51 -57 Beals  Street in Brookline is a preservation project located in the Coolidge Corner neighborhood and sponsored by the non-profit Pine Street Inn. DHCD will support the project with Low Income Housing Tax Credits, federal HOME funds, and state bond funds, and the town of Brookline also will provide substantial support to Beals Street. When completed, the project will offer 31 renovated single room occupancy units.  As many as 30 units will be reserved for individuals earning less than 30 percent of area median income.

Bishop Allen Apartments in Cambridge is a preservation project located in Central Square and sponsored by the non-profit Just-A-Start Inc.  DHCD will support the project with Low Income Housing Tax Credits and state bond funds. The city of Cambridge also will provide substantial support to the project.  When completed, Bishop Allen will feature 32 newly rehabilitated units for families in a location very near mass transit and multiple retail and commercial opportunities.

Putnam Square Apartments in Cambridge is a preservation project located in Harvard Square and sponsored by the non-profit Homeowners Rehab Inc. DHCD will support the project with Low Income Housing Tax Credits and state bond funds.  The city of Cambridge also will provide significant support to Putnam Square. When completed, the project will feature 94 renovated units for seniors, including very frail seniors. Nineteen units will be occupied by seniors earning less than 30 percent of area median income. The sponsor intends to bring numerous services, including health care services, into the building to support the elderly tenants.

Chelmsford Woods Residences is the first phase of a 116-unit new construction project located in Chelmsford and sponsored by CHOICE, Inc., and Stratford Capital Group LLC.  DHCD will support this phase of the project with Low Income Housing Tax Credits, federal HOME funds, and state bond subsidies, and the town of Chelmsford also will support the project with Community Preservation Act funds. When completed, this phase of Chelmsford Woods will feature 58 affordable units for families, including six units reserved for families earning less than 30 percent of area median income.

North Bellingham Veterans Home is a re-use project located in the heart of downtown Chelsea and sponsored by The Neighborhood Developers.  DHCD will support the project with state bond subsidies, and the city of Chelsea also will provide support to the project.  North Bellingham Veterans Home will feature the adaptive re-use of a former American Legion Hall into ten units of supportive housing for homeless individuals.  There will be a preference for veterans in tenant selection, and services will be provided to the new tenants.

Route 134 Community Housing is a new construction project located in Dennis and sponsored by the Housing Assistance Corporation (HAC) and Preservation of Affordable Housing (POAH).  DHCD will support the project with Low Income Housing Tax Credits, federal HOME funds, and state bond subsidies. The town of Dennis also has committed funds to the project.  When completed, the project will include 27 affordable units for families, with seven units reserved for households earning less than 30 percent of area median income.

Heywood Wakefield IV is a historic re-use project located in Gardner and sponsored by Trafalgar Capital.  DHCD will support the re-use with Low Income Housing Tax Credits, federal HOME funds, and subsidy funds, and the city of Gardner also has committed funds to the project.  When completed, the project will include 55 affordable units for families, including six units reserved for households earning less than 30 percent of area median income.

Winter Street School Apartments is a historic re-use project located in Haverhill.  The sponsor is the Planning Office for Urban Affairs (Archdiocese of Boston).  DHCD will support the project with Low Income Housing Tax Credits and state bond subsidies, and the city of Haverhill also will support the project. When completed, the project will include 12 affordable units for families, with three units reserved for households earning less than 30 percent of area median income.

Duck Mill/Union Crossing Phase II is a historic re-use project located in Lawrence and sponsored by the non-profit Lawrence Community Works.  DHCD will support the project with Low Income Housing Tax Credits, federal HOME funds, and state subsidy funds, and the city of Lawrence also will provide support to the project.  When completed, the project will feature 73 affordable units for families, including 15 units reserved for families earning less than 30 percent of area median income.

Malden Mills II is a historic re-use project located in Lawrence and sponsored by Winn Development.  DHCD will support this project with Low Income Housing Tax Credits, federal HOME funds, and state bond subsidies. The city of Lawrence also has committed funds to this project.  When completed, Malden Mills II will offer 62 affordable units for families, including seven units reserved for households earning less than 30 percent of area median income.  WinnDevelopment already has completed a highly successful earlier phase of this large-scale redevelopment project.

Gorham Street Apartments is a new construction project in Lowell sponsored by the non-profit Coalition For A Better Acre. DHCD will support the project with Low Income Housing Tax Credits, federal HOME funds, and state subsidies, and the city of Lowell also will provide support to the project.  When completed, Gorham Street will feature 24 affordable housing units for families.

Massachusetts Mills III is a historic re-use project located in Lowell and sponsored by The Mullins Company and Rees-Larkin Development.  DHCD will support the project with a Low Income Housing Tax Credits, federal HOME funds, and state bond subsidies. The city of Lowell also has committed funds to Mass Mills III.  When completed, the project will include 70 total units for families: 57 units will be affordable, including seven units reserved for households earning less than 30 percent of area median income.

Parc at Medfield Phase 1 is a new construction project located in Medfield, sponsored by The Gatehouse Group, and permitted through Chapter 40b.  DHCD will support Parc at Medfield with Low Income Housing Tax Credits and state bond subsidies.  When completed, the project will include 48 affordable units for families, including five units reserved for households earning less than 30 percent of area median income.

Parc at Medfield Phase 2 is the second component of this new construction project located in Medfield, sponsored by the Gatehouse Group, and permitted through Chapter 40b. When completed, the second phase of Parc at Medfield will offer 44 total units, with five units reserved for families earning less than 30 percent of area median income.

East Howard Street in Quincy is a new construction project sponsored by the Neighborhood Housing Services of the South Shore, Inc.  DHCD will support the project with state bond subsidies, and the city of Quincy also will provide funds to the project.  When completed, East Howard Street will include 12 affordable units for veterans and their families, including eight units for households earning less than 30 percent of area median income.  Among the new tenants will be veterans making the transition from homelessness.

Hunter Place Apartments is a preservation project located in Springfield and sponsored by Valley Real Estate.  DHCD will support the project with Low Income Housing Tax Credits, federal HOME funds, and state bond subsidies, and the city of Springfield also will support the project.  When completed, Hunter Place will feature 80 affordable units for seniors, with 16 units reserved for seniors earning less than 30 percent of area median income.

Memorial Square Apartments is a preservation project located in Springfield and sponsored by the New England Farm Workers Council.  DHCD will support the project with Low Income Housing Tax Credits, federal HOME funds, and state bond subsidies. The city of Springfield also will support the project. When completed, Memorial Square will offer 56 affordable units for families, with 12 units reserved for households earning less than 30 percent of area median income.

Residences at Stony Brook Phase 2 is a new construction project in Westford sponsored by the non-profit Common Ground Development Corporation. DHCD will support the project with Low Income Housing Tax Credits, federal HOME funds, and state bond subsidies. When completed, the project will include 36 affordable units for families, with nine units reserved for households earning less than 30 percent of area median income. The first phase of Residences at Stony Brook contained 15 affordable units and was completed in 2006.

Cable Mills is a historic re-use project located in Williamstown and sponsored by Mitchell Properties. DHCD will support the project with state bond subsidies, and the town of Williamstown also will support the project with Community Preservation Act funds. When completed, the project will feature 61 total units, with 13 units reserved as affordable units for families.

Worcester Loomworks Phase1 is an adaptive re-use project located in Worcester and sponsored by The Community Builders. DHCD will support Worcester Loomworks with a combination of Low Income Housing Tax Credits, HOME, and state bond subsidies.  When completed, this phase of the project will include 39 affordable units for families, with eight units reserved for households earning less than 30 percent of area median income.

Worcester Loomworks Phase 2 is the second component of an adaptive re-use located in the Main South neighborhood of Worcester and sponsored by The Community Builders. When completed, this phase of the project will include 55 total units, with 11 units reserved for households earning less than 30 percent of area median income.