The program offers zero-interest loans to developers that keep rental units affordable for at least 50 years.
Boston’s Acquisition Opportunity Program has helped protect the affordability of 1,000 rental homes five years ahead of schedule, writes Ysabelle Kempe in Smart Cities Dive.
The program assists “mission-driven” developers in purchasing housing with zero-interest loans in exchange for a commitment to maintain affordability for tenants for at least 50 years. “The developers must also set aside at least 40% of the units for low- and moderate-income families.”
Nonprofits such as the East Boston Community Development Corp. have benefited from the program, which has helped them acquire 150 units. “Now that Boston has hit its 1,000-home goal, it is setting another to help preserve over 350 more affordable housing units by the end of 2026.”
FULL STORY: Boston’s affordable housing preservation efforts are seeing results
Rents Rose Between December and January
After dropping to a three-year low, U.S. rent costs grew in many major cities.
Housing Top of Mind for Nevada Voters
The Silver State is the nation’s most unaffordable housing market for extremely low-income households.
Report: Las Vegas, Houston Top List of Least Affordable Cities
The report assesses the availability of affordable rental units for low-income households.
Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?
Paris Voters Approve More Car-Free Streets
Paris Mayor Anne Hidalgo says the city will develop a plan to close 500 streets to car traffic and add new bike and pedestrian infrastructure after a referendum on the proposal passed with 66 percent of the vote.
Making Mobility More Inclusive
A new study highlights the challenges people with disabilities continue to face in navigating urban spaces.
Texas Bills Could Push More People Into Homelessness
A proposal to speed up the eviction process and a bill that would accelerate enforcement of an existing camping ban could make the state’s homelessness crisis worse, advocates say.
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