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Governor Baker Announces 2019 Affordable Rental Housing Awards

7.19.19

On July 18th in Swampscott, the 2019 Affordable Rental Housing Awards where announced by Governor Baker.  The North Shore was very well represented with four local recipients. The awards in total consist of nearly $80 million in direct subsidies and $38 million in Low Income Housing Tax Credits to fund the development, renovation, and preservation of housing opportunities throughout Massachusetts. 

 

The four local winners are:  Cabot Street in Beverly, which will construct 24 new units as well as rehabilitating 45 existing units.  All of these units will be restricted to individuals earning less than 60% of the area median income.  Harbor Village in Gloucester will be a mixed-use project consisting of a commercial ground level and 30 new units which will be restricted to 60% of area median income.  The Tannery in Peabody is a preservation project.  When the rehab is completed there will be 200 units reserved for those earning less than 60% of area median income and 35 units for those earning less than 30% of area median income.  Finally, The Senior Residences at The Machon in Swampscott is a redevelopment project of an elementary school for senior citizens.  There will be 38 units available for seniors earning less than 60% of the area median income and 8 more units for seniors earning less than 30% of the area median income.

 

You can find the state house’s official press release here.

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