Housing Headlines

BOSTON --- Banker & Tradesman reporter Scott Van Voorhis reports that a new study set to be released today finds that Massachusetts is last in the nation in the percentage of homes owned by blacks and Hispanics (subscription required).

WASHINGTON, D.C. --- Last month, national housing expert Alan Mallach posted an analysis on the housing recovery and sees some major problems behind the rosy numbers, such as rising rents and a slower recovery in many urban neighborhoods.

BOSTON --- Nuestra Comunidad Executive Director David Price puts forth a thoughtful seven-part recipe on how to increase homeownership opportunities for the middle class in Boston. Among his suggestions are identify the income range to be supported and and create city and state subsidies to write down purhcase prices to make homeownreship attainable.

PROVINCETOWN --- The town recently held a housing summit designed to address issues raised in the update of its 2006 housing needs study. The new study showed that there have been 376 permits issued for condos since 2007 and that many were small multi-family units that have been converted to second homes. In addition, the percentage of households paying more than 35 percent of their income for housing has risen from 44 to 59 percent.

ATTLEBORO --- A survey of local real estate listings and realtors indicates that demand for rental housing is high, with most two-bedroom apartments renting for more than $1,000 per month.

WESTFORD --- With $2.2 million in state funding awarded this fall, the town's efforts to develop some of its public lands with housing will soon take another step forward as Common Ground Development Corp. of Lowell is preparing to break ground with phase II of Stony Brook Village. This phase will result in 36 affordable units, 12 of which will be affordable to households below 30 percent of median income. The rental homes will complement the 15 units built on the property back in 2006. The town is also supporting the project with $400,000 in local funds. This fall, the state's Department of Housing and Community Development awarded $2.2 million to an emergent Westford development called Residences at Stony Brook Phase 2. The funds solidified the construction of 36 additional housing units on the Stony Brook School campus where 15 residences already exist. One-third of the one-, two-, and three-bedroom rental units, housed among seven buildings, will be priced below market rates to make them affordable for those earning less than 30 percent of the area's median income. Read more: http://www.wickedlocal.com/westford/news/x1467740349/Stony-Brook-project-backs-Westford-s-affordable-housing-rates#ixzz2qTriqt5Q Follow us: @Westford_Eagle on Twitter | WestfordEagle on Facebook