Boston provides $8.4M to jumpstart affordable housing construction (Boston Business Journal)

Boston Business Journal
(2/19/2013 10:47 AM, Thomas Grillo)

Boston's Department of Neighborhood Development has provided more than $8.4 million in affordable housing resources and tax credits from the state's Office of Housing and Economic Development to jumpstart three Boston affordable housing developments.

The funding will allow construction of Jackson Commons in Jamaica Plain, Roxbury Crossing Senior Housing in Roxbury, and Phase One of the redevelopment of St. Kevin's in Dorchester to proceed. Together, these developments will produce 110 units of affordable rental housing. About 20 of these units will be reserved for very low-income families and households transitioning from homelessness.

These state resources, including more than $1.5 million in Low Income Housing Tax Credit Assistance Program funding, will leverage nearly $47 million in private development funds. The funds were allocated to assist in economic recovery, helping local housing and finance agencies fund affordable rental housing projects while creating jobs.

In order for these projects to qualify for DND funding, the developments will also need to meet LEED Silver Standard and Energy Star Standards. This means that, to ensure energy efficiency, each development will utilize green building technology, including energy saving appliances, plumbing fixtures, heating systems, windows and insulation.