Expanded Down Payment Assistance helps homebuyers in a difficult market

In March, MassHousing rolled out several enhancements to its down payment assistance program aimed at increasing access for Massachusetts homebuyers. Down Payment Assistance of up to $30,000 is now available to eligible first-time homebuyers purchasing a home in every city and town in Massachusetts. The funds may be used to help cover a down payment and closing costs. 

The program is particularly important in today's competitive real estate market, where high interest rates and low inventory of homes for sale have priced out many homebuyers with modest incomes. Since the program enhancements were launched, nearly all MassHousing Mortgage borrowers also receive down payment assistance.

Down payment assistance from MassHousing is only available to eligible homebuyers using an affordable MassHousing Mortgage to purchase a single-family home, condominium, or a 2-4 family property that will serve as the borrower's primary residence. 

Learn more about Down Payment Assistance from MassHousing.

Forum focuses on increasing homeownership opportunities

Homeownership on the road

CommonWealth Builder provides funding for new homes for purchase in Boston and Fall River

Cape Cod 5 Redevelopment, Orleans

Pennrose, LLC will use $19.2 million in MassHousing financing to convert Cape Cod Five Bank’s former operations center into a new, 62-unit, mixed-income rental community. Read more.

Eagle Mill, Lee

MassHousing is providing Rees-Larkin Development and Berkshire Housing Development Corp. with $5.8 million in financing for the first phase of the redevelopment of Eagle Mill, which will create 56 new affordable apartments. The former paper mill campus was built in 1808 and has been vacant since 2008. Read more.

Westminster Village Arms, Lowell

$94 million in MassHousing financing will help Related Affordable complete extensive property renovations and extend affordability at this 432-unit community, which was constructed in 1970 and last renovated in 2012. Read more.

52 New Street, Cambridge

MassHousing was on hand to help Just A Start celebrate the groundbreaking at 52 New Street, a new 106-unit rental community being built on the site of a vacant building and parking lot in North Cambridge. MassHousing provided a total of $41.6 million in financing for the development, which is Just A Start's largest-ever construction project and the first to be built under Cambridge's Affordable Housing Overlay.



Curtis Apartments, Worcester

Work is underway on the first phase of the redevelopment of Curtis Apartments, where $49.4 million in MassHousing financing is helping Trinity Financial demolish and replace 90 existing public housing units and add an additional 39 affordable units. The overall redevelopment will replace all 372 public housing units and add 155 affordable and middle-income apartments, resulting in 527 units.



The Kenzi, Boston (Roxbury)

The ribbon was cut for The Kenzi, which provides 50 units of supportive housing for seniors. MassHousing provided $14.8 million in financing for the project, which is part of the five-phase redevelopment of Bartlett Station.



Bergen Circle, Springfield

MassHousing joined Mayor Domenic Sarno, The Michaels Organization, officials, project partners and residents to celebrate the completion of renovations at the 201-unit Bergen Circle. MassHousing provided $21.2 million in financing for the project. Read the news release | Watch a video about the project.

Applications open for Equitable Developers Fund

Applications are now open for the Equitable Developers Fund (EDF), which aims to address disparities in capital access in the real estate industry, expanding the capacity and increasing the number and diversity of capable developers working across Massachusetts.

The $50 million EDF is being offered through a partnership between MassHousing and the Massachusetts Housing Investment Corp. (MHIC). The Fund will offer developers Working Capital Lines of Credit and Standby Letters of Credit, products designed to break down traditional barriers of entry into the real estate development industry for underrepresented developers, as well as technical assistance. 

Learn more about the Equitable Developers Fund and apply today.

$6.9 million in Neighborhood Stabilization Program grants announced

The Healey-Driscoll Administration and MassHousing announced a total of $6.9 million in Neighborhood Stabilization Program grants to help 10 community-based organizations redevelop or rehabilitate 37 affordable homes, including 23 new affordable homeownership opportunities. Awarded projects are located in Chelsea, Framingham, Greenfield, New Bedford, Pittsfield, Plymouth, Springfield and Worcester. Read the NSP Grant Announcement.

New feature helps businesses connect

The Business Opportunity Feature is an online tool that helps MassHousing partner management companies and general contractors connect their business opportunities with diverse companies. The feature allows management companies and general contractors to create, post and update single or multiple business opportunities at their projects. Once a business opportunity is created, it is immediately discoverable on masshousing.com by diverse business owners.

The Business Opportunity Feature is an evolution from the printed Opportunity lists of the past, and was designed to help you meet your diverse business utilization goals. Submit business opportunities at masshousingrental.com.

REMINDER: CDMS reporting deadline, July 25

The deadline for Management Companies to submit year-end vendor reports through the Compliance & Diversity Monitoring System (CDMS) is July 25. Reports reflect management company efforts to hire diverse businesses at their developments during the period of January 1 to June 30, 2024. Though the deadline is July 25, we encourage early reviews and submissions. To submit your reports, log into our rental portal, masshousingrental.com. 

Join TAP for 2024-2025!

TAP, MassHousing’s Tenant Assistance Program, supports housing developments by providing a variety of resources and benefits to residents and staff. Each year, hundreds of rental housing developments across Massachusetts join TAP and have access to these benefits:

• Trainings: Free for TAP member site staff
• Resident Engagement Programs: On-site programs and workshops
• Dispute Resolution: Services to manage on-site conflict
• Hoarding Consultation and Flex Funds: Virtual consultation to site staff and flex funds to address hoarding behaviors on site through the Tenancy Preservation Program

Membership in TAP is available to all rental housing communities in Massachusetts. To learn more about TAP and its many benefits, or to enroll your site today, visit masshousing.com/TAP.

Housing Stability Grants available to MassHousing rental communities

Did you know: MassHousing’s Housing Stability Department provides funding opportunities that support the Agency's multifamily borrowers and business partners in cultivating thriving communities for their residents? New funding opportunities are opened regularly, and current funding opportunities include Inclusion and Leadership Mini Grants of up to $2,500 and Letters of Interest to inform future funding programs. Learn more and apply.

MCCB launches Energy Saver Home Loan Program

The Massachusetts Community Climate Bank has launched its first consumer loan product, the Energy Saver Home Loan Program (ESHLP). 

The $20 million ESHLP provides flexible financing for a wide range of residential clean energy projects that support emissions reduction and healthier homes. Eligible homeowners may use Energy Saver loans to finance health and safety improvements such as roof replacement and oil tank removal, home weatherization, electrical system upgrades, heat pumps, new efficient appliances and fixtures, and installation of rooftop solar panels, battery storage and EV charging stations. To receive financing through the program, home improvements must reduce total energy usage by at least 20 percent.

The MCCB will administer the Energy Saver Home Loan Program in partnership with service providers across Massachusetts, who will help consumers to develop a customized home improvement plan, find quality contractors, and access available rebates and incentives to make the project more affordable. The high-touch program will reduce barriers and connect consumers with resources more quickly and effectively.

• Read the Energy Saver Announcement
• View News Stories from the Boston Globe | WBUR | WGBH

MCCB marks one-year anniversary

One year ago this month, Governor Healey announced the creation of the Massachusetts Community Climate Bank (MCCB), which is located within MassHousing. MCCB's mission is to facilitate investment in projects that will reduce greenhouse gas emissions in key sectors of the Massachusetts economy. MCCB has made great progress in its first year, and we are excited about what is still to come!