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
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.
What Might Federal Housing Policy Look Like in 2025?
Changes to tax incentives, fair housing laws, and housing assistance programs would quickly start impacting local efforts to stem the housing crisis.
Seattle Legalizes Co-Living
A new state law requires all Washington cities to allow co-living facilities in areas zoned for multifamily housing.
Central Florida’s SunRail Plans Major Expansion
The expanded train line will connect more destinations to the international airport and other important destinations.
NYC Officials Announce Broadway Pedestrianization Project
Two blocks of the marquee street will become mostly car-free public spaces.
Harnessing Waste Heat Through Thermoelectricity
Heat from industrial installations and buildings can be captured to create renewable electricity.
Major US Cities Still Suffering Downtown Decline
Research shows that the “donut effect” hollowing out central business districts since the pandemic continues to cause economic decline in the 12 largest American cities.
Terre Haute Transit Goes Fare-Free
Buses in the Indiana city will be free as of January 2.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Los Alamos County
City of Culver City
Skagit Transit
American Planning Association, Sustainable Communities Division
HUDs Office of Policy Development and Research
HUDs Office of Policy Development and Research
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport
Rockdale County Board of Commissioners