The Boston Acquisition Fund will offer low-interest loans to developers who pledge to keep multifamily housing affordable.
A new city program in Boston will assist non-profit and mission-driven housing developers acquire occupied multifamily housing if they pledge to keep it permanently affordable.
As Ysabelle Kempe reports in Smart Cities Dive, “The public-private partnership aims to raise $25 million. The city already has about $13 million from city grant funding and 10 local organizations, including medical centers and philanthropic groups.”
The Boston Acquisition Fund will offer revolving loans, similar to the city’s existing Acquisition Opportunity Program, which has helped developers buy over 1,000 units since its launch in 2016.
“As a revolving fund, the BAF will provide low-interest loans to developers, and the repaid funds will be reinvested into future projects. This model creates “a sustainable model for preserving affordability,” according to the city of Boston.” The city aims to help developers acquire 500 units by 2030 under the new program.
FULL STORY: Boston ramps up affordable housing preservation efforts with new revolving fund
After a Six-Year Struggle, Tenants in Boston’s Mattapan Neighborhood Win Permanent Affordability
When a new owner imposed sharp rent hikes in 2018, tenants organized and fought back. Now, more than 300 housing units will be affordable for the foreseeable future. Here’s how the tenants made it happen.
Boston Affordable Housing Program Meets 1,000-Unit Goal
The program offers zero-interest loans to developers that keep rental units affordable for at least 50 years.
Land Trusts Preserve Affordability, but for Whom?
An analysis of buildings bought by the city for a community land trust in Boston reveals that many prior residents were evicted just before the sales.
The state-sanctioned urbicide of Austin
People don’t kill cities. Freeways do.
US to reduce Colorado River water deliveries to Mexico
A new Colorado Treaty amendment reduces Mexico’s Colorado River water allocation by 250,000 acre feet.
New Jersey’s second-largest city bans standalone data centers
Jersey City will continue to allow co-location facilities, such as those meant for research institutions that store their own data.
Amtrak not solely to blame for New Jersey commuter rail's unreliability, report finds
A new study from the Garden State Initiative found that NJ Transit’s budget grew 20% across a 4 year period, but reliability declined significantly over the same period.
EPA erases limits on planet-warming pollution from power plants
Under Monday’s plan, power plants would still have some limits on how much mercury, arsenic and other contaminants they can emit.
Phoenix announces new on-demand transit service, more frequent RAPID buses
Both new services will launch in October, and are part of Phoenix's Project Effective Access Solutions for Easing Congestion.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
Eagle County Government
Harvard University Graduate School of Design
Nashville Planning Department
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello
Journal of the American Planning Association