MassHousing recently announced the closing of $9.3 million in Affordable Housing Trust Fund financing to support the creation and preservation of 318 units of affordable housing at eight developments across Massachusetts. Among the developments that received AHTF financing:
- Washington Park Apartments ($1.5 million), a 96-unit affordable housing community located in six buildings in Roxbury
- 109 Mount Pleasant Avenue ($350,000), a new, 8-unit affordable rental development for homeless families in Roxbury
- Stage Coach Residences ($694,154), a new 12-unit affordable rental development in Centerville
- Wadleigh House ($500,000), a new, 22-unit single room occupancy development in Haverhill's Main Street Historic District
- Paxton Senior Housing ($1 million), a new, 50-unit development for senior citizens in Paxton
- Westhampton Woods Senior Housing Phase II ($534,000), an 8-unit development for senior citizens in Westhampton
- Voke Lofts ($2 million), a new, 84-unit mixed-income development in downtown Worcester
The Affordable Housing Trust Fund has proven to be an invaluable tool in supporting affordable housing development and preservation across the Commonwealth. AHTF dollars may be used flexibly to support the acquisition, construction or preservation of affordable rental, for-sale and mixed-use developments, provided they are applied only to the affordable units. AHTF money is a key part of large, complex financing packages; without it, many of these projects would not be.
MassHousing administers the AHTF on behalf of the Department of Housing and Community Development, and we’ve contributed $40 million to ensure its ongoing availability. In fiscal year 2012, the AHTF enjoyed a record year, closing $41.3 million in financing to 42 developments with a total of 2,164 units. In its history, the AHTF has closed $302.6 million in financing to 381 developments, with a total of 17,035 units.
Learn more at www.masshousing.com/ahtf.