NEW: Hundreds of Construction Jobs to be Created in Central Mass.
Wednesday, May 09, 2012
The $105 million investment includes more than $23 million in federal low-income housing tax credits; $20 million in state low-income housing tax credits and $61 million in state and federal housing program subsidies.
“Creating 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 investing in affordable housing will build a better Commonwealth for generations to come.”
“Investing in affordable housing for our veterans, elderly residents and low-income families is critical to strengthening our neighborhoods and ending homelessness in the Commonwealth,” said Lieutenant Governor Murray, Chair of the Interagency Council on Housing and Homelessness. “By partnering with the state’s congressional delegation, we are delivering greater resources and creating significant construction jobs as we increase our stock of affordable housing for families and individuals in Massachusetts.”
Of the 2,196 units, 2,062 of which will be affordable to low and moderate income working families and individuals -- including 279 for extremely low-income families and individuals. Funding from today’s announcement will support projects in: Agawam, Amherst, Barnstable, Beverly, Boston, Brewster, Brockton, Brookline, Carlisle, Danvers, Easthampton, Hudson, Lawrence, Lowell, Ludlow, Newburyport, Orange, Orleans, Somerville, Springfield, Stow, Sudbury, Taunton, Truro, Westhampton, Worcester and Yarmouth.
Local projects that were funded included the Paxton Senior Housing, the Worcester Voke School project and the State Street Portfolio Acquisition.
In Paxton, JK Scanlan will use $1.7 million in DHCD housing subsidies and $1.2 million in state and federal low-income housing tax credits to build 50 units of affordable housing for elderly residents, with five units reserved for extremely low-income households. It is expected to create 69 jobs.
Winn Development will use $2.55 million in DHCD housing subsidies and $3.9 million in state and federal low-income housing tax credits to renovate the old Worcester Voke School into 65 units of housing, with 58 affordable units and nine units reserved for extremely low-income households. It is expected to create 197 jobs.
The State Street Portfolio Acquisition will use approximately $8.9 million in federal and state low-income housing tax credits to purchase and preserve six affordable housing projects currently owned by State Street and located in four communities, including Hudson. With 796 affordable units (841 total units) and 350 new jobs, these projects are one of the state’s largest preservation efforts.
“This funding for affordable housing will go a long way to boost our communities and bring much needed relief to Massachusetts families who need help the most,” said U.S. Senator Scott Brown.
Related Articles
- Governor Patrick Discusses Manufacturing Jobs in Worcester
- 6,600 New Jobs in MA
- BREAKING: Claremont Teachers Protest: “Let Us Keep Our Jobs”
- Casino Series Part 7: Massachusetts Casino Jobs Could Prove Fleeting
Follow us on Pinterest Google + Facebook Twitter See It Read It