MassHousing and the Department of Housing and Community Development (DHCD) this week announced that the state is providing loan funds totaling over $2 million for affordable housing developments in Newburyport, Gloucester and Danvers.
The funding is part of $8.2 in statewide financing through the Affordable Housing Trust Fund (AHTF), which aims to provide resources to create or preserve affordable housing throughout the state.
"Affordable housing is in high demand across Massachusetts," said Aaron Gornstein, undersecretary for the Department of Housing and Community Development, in this week’s announcement. "The Affordable Housing Trust Fund is one tool that we have for creating more affordable and accessible housing for young families and individuals and meeting Governor Patrick's production goal of 10,000 new multi-family units a year in the Commonwealth."
In Danvers, $1 million will go towards the Conifer Commons Phase 2 project, a 42-unit new construction affordable development on Conifer Hill Drive. It will be built adjacent to the first phase of the project, which has 48 affordable rental units.
Home Together, a new four-unit supportive housing development for homeless families in Gloucester, will receive $573,145 for its construction.
In Newburyport the housing trust will provide $500,000 for the YWCA's Market Street Apartments, a 10-unit development for homeless families. The project will involve the reconfiguration of an existing, occupied five-unit building with the addition of five new units.
"This latest round of loan closings for the Affordable Housing Trust Fund will help create nearly 250 new units of affordable housing for low and moderate income families and senior citizens, as well as for a number of homeless families," said MassHousing Executive Director Thomas R. Gleason in this week’s announcement. "This funding is an important source of capital in creating more affordable housing in Massachusetts, which we need to keep our economy vibrant and strong."