Housing Headlines

The Federal Home Loan Bank announced more than $18 million in funds to support 23 affordable housing efforts in the first round of its 2007 Affordable Housing Program (AHP). The funds will create or preserve 629 rental and ownership units throughout New England, including 10 efforts to create or preserve 224 units in Massachusetts. Click here and scroll down to view the Massachusetts awards.

WILMINGTON --- The latest proposal to develop a land parcel abutting Lake Street has been approved by the zoning board. Members say that while previous developers had planned to build over 100 units on the 6.3 acre site, the current 'low impact' proposal fits nicely with the town's character. The effort will include 12 detached houses and two duplexes, open space, and rain gardens.

GROTON --- The Groton Housing Authority may use Community Preservation Act funds to hire a 40B consultant that would help the town determine how best to increase its affordable housing stock, including the possibility of developing town-owned land.

WESTFORD --- With a $500,000 federal HOME grant administered by the state Department of Housing and Community Development, the Westford Housing Authority is ready to move forward with the construction of 36 units of senior housing.

BOSTON --- After a year of renovations, Mattapan residents prepare to move back into their newly renovated affordable apartments. All of the units have brand new kitchens, updated appliances, and gleaming hardwood floors, among other upgrades. MHP assisted in this effort by committing over $4.3 million in first-mortgage financing and $450,000 in HomeFunders second mortgage financing to the 95-unit effort.

NEW BEDFORD --- A building that was once a neighborhood eyesore has been restored into 17 affordable homes for low-income residents. The units were developed by Community Action for Better Housing, a subsidiary of Catholic Social Services, and MHP provided nearly $1 million in first and second mortgage financing.