Boston and MassHousing have announced a joint effort to transform three vacant city-owned lots into 55 new affordable homeownership opportunities for first-time buyers. The developments, located in Mattapan, Roxbury, and Dorchester, will be constructed by DVM Housing Partners, DREAM Development, and Urbanica. This initiative is supported by $13.3 million from MassHousing’s CommonWealth Builder Program and $7.4 million from the Mayor’s Office of Housing.
The primary goal of this project is to address the racial homeownership gap in Massachusetts by providing affordable housing options that promote generational wealth. The homes will consist of one-, two-, and three-bedroom units with affordability restrictions for households earning between 70% -120% of the Area Median Income (AMI).
According to Boston’s Chief of Housing Sheila Dillon: “Homeownership is a crucial pathway towards building generational wealth and achieving economic stability for families.” She also expressed gratitude towards their partners including MassHousing, community members,and local developers who have contributed to making these projects successful.
This announcement marks an important step towards creating more equitable housing opportunities in Boston without compromising on quality or affordability.
