Boston Issues Annual RFP for Affordable Housing Development
The City of Boston has released its annual Request for Proposals (RFP) aimed at expanding the availability of affordable housing. This year, the city is allocating $40 million to support the creation and preservation of affordable housing units across Boston.
The funding is open to both nonprofit and for-profit developers and may be used for a variety of residential projects, including rental, cooperative, and supportive housing.
“This $40-million investment will enable us to support a diverse range of housing projects, from preserving at-risk developments to building new units for those most in need, while also ensuring that Boston remains a city where families of all backgrounds can thrive,” said Mayor Michelle Wu.
The city has announced several priorities for this funding round. Proposals that reduce development costs, leverage both public and private funding efficiently, or make use of city-owned land will receive preference. Boston is also looking to fund projects that offer a mix of units targeting residents from extremely low-income to middle-income brackets.
Special focus will be placed on housing initiatives that serve older adults, veterans, individuals with disabilities, youth aging out of foster care, and artists. Additionally, the city aims to invest in neighborhoods that currently lack sufficient affordable housing options.
This effort continues Boston’s broader initiative to make the city more inclusive and livable for residents of all income levels.
