City Changes Percentage of Required Affordable Housing for New Construction

To What End?

By Josh Resnek

The city council went from nothing to nowhere debating for about two hours a percentage change that requires developers to allow a certain percentage of new units constructed in the city to be offered at lower rentals in order to enlarge the supply of affordable apartments in the city.

The bottom line in this two-hour debate that led to one percentage being lowered to 15% instead of the 20% where it stood was this: very few, if any new construction units have been built as affordable housing.

Two major projects, the Batchyard, with more than 500 units and the 360 unit megacomplex on the Revere Beach Parkway now being built, contribute not one new unit of affordable housing for the city.

This statistic was revealed by Councilor Fred Capone, who indicated he believed the city was being hurt by not living  up to the word of its desire to make available more affordable housing units for residents here.

Continue reading City Changes Percentage of Required Affordable Housing for New Construction

McGonagle Supports $1.7 Billion Affordable Housing Legislation

BOSTON – Representative Joseph McGonagle (D-Everett) joined his colleagues in the House to pass a $1.7 billion housing bond bill to support low and moderate income housing throughout the Commonwealth.

The legislation recapitalizes funding for a variety of programs and extends several housing and economic development tax credits. Continue reading McGonagle Supports $1.7 Billion Affordable Housing Legislation