The Baker-Polito Administration announced $93.4 million in direct funding and $33 million in state and federal housing tax credits to support the development of 790 housing units across the state.
The awarded projects in Essex County located in Salem and Swampscott include Elm Place (Swampscott), a new construction transit-oriented project.
The sponsor is Winn Development. Department of Housing and Community Development (DHCD) will support the project with federal and state low-income housing tax credits and subsidy funds.
The Town of Swampscott will support the project with local funding. When construction is completed, Elm Place will offer 114 total units. Seventy-eight units will be affordable to individuals or families earning less than 60 percent of Area Median Income (AMI), with 16 units further restricted for individuals or families earning less than 30 percent of AMI, and, in some cases, transitioning from homelessness.
Salem Schools is a historic adaptive reuse project with two vacant school buildings slated to be fully rehabilitated as senior housing by the nonprofit sponsor, North Shore Community Development Coalition.
DHCD will support the project with federal and state low-income housing tax credits and subsidy funds, including American Rescue Plan Act (ARPA) funds.
When the project is completed, Salem Schools will feature 61 total units. Fifty-six units will be affordable to senior households earning less than 60 percent AMI, with 16 units further restricted to senior households earning less than 30 percent of AMI, and, in some cases, transitioning from homelessness. The sponsor will also provide supportive services to the new residents of Salem Schools.
“Our Administration has made it a priority to create adequate housing to support our economy and families since day one,” said Governor Charlie Baker. “We have been proud to make record investments to build and preserve tens of thousands of housing units as well as champion zoning reforms in partnership with local leaders to better position cities and towns to advance housing in their communities.”
Since 2015, through state and federal housing tax credits, the Baker-Polito Administration has invested more than $1.5 billion in the affordable housing ecosystem, resulting in the production and preservation of more than 24,000 housing units, including approximately 21,000 affordable units.
“Whether it’s seniors looking to downsize or young couples looking for their first home, in our travels across the Commonwealth we heard from countless residents and local leaders describing the need for more – and more affordable – housing options in their communities,” said Lt. Gov. Karyn Polito. “Through various state programs and through the creation of the Community One Stop for Growth single application portal, we have made it easier for communities to access state programs that would allow them to invest in housing.”
