Funding announced for Mass. affordable housing

BOSTON – Gov. Deval L. Patrick last week announced that $108 million in state and federal funding and tax credits will be used to support 39 affordable-housing projects that will total more than 2,500 units – 2,255 of which are affordable – across the state, according to his office.
The funding will support projects in 25 municipalities, including New Bedford and Fall River.
“It is important that we use every resource available to build more rental housing that is affordable to wage earners at all income levels and help create jobs,” Patrick said in Chelsea, Mass., where he introduced the funding last week.
About $71.2 million will come from U.S. Department of Housing & Urban Development HOME Investment Partnership Program funding. Another $17.9 million will come in the form of federal tax credits and Massachusetts has announced $18.9 million in state tax credits. The funding will leverage an estimated $200 million in private investment, according to Patrick’s office.
In Fall River and New Bedford, both projects will produce affordable housing.
In Fall River, YMCA Southcoast’s Mt. Hope View Housing project, with 42 units, will receive $1.49 million in funding and $494,422 in federal tax credits.
In New Bedford, Women’s Institute for Housing & Economic Development’s Ingraham Place development, with 19 units, will receive $2.45 million in funding and $342,000 in federal tax credits.