A stimulating housing development across Massachusetts' Gateway Cities, the Healey-Driscoll administration has rolled out a lion's share of $27 million in development incentives. According to a Mass.gov press release, Governor Maura Healey, Lieutenant Governor Kim Driscoll, and Secretary Ed Augustus of Housing and Livable Communities, are spearheading the effort that will generate 547 new units. This investment represents the largest in the program's history, and signifies the state's commitment to addressing housing affordability and diversity.
With a tax cuts package that was signed last fall, which raised the annual HDIP program cap from previously $10 million to now $57 million in 2023 before settling at $30 million annually. In a statement obtained by Massachusetts news outlets, Governor Healey emphasized, "Our Gateway Cities are vital centers for industry and culture while also being positioned to help provide the housing we need to meet the demand. These funds help make projects possible that will create hundreds of homes, revitalize neighborhoods and strengthen our communities"
The HDIP is a strategic tool used to encourage the development of market rate housing, and with the recent funding increase, all 13 project applications this round have been approved. As Lieutenant Governor Driscoll put it, "This funding boost helps us do even more to address our housing needs now." These initiatives are aimed at breathing new life into neighborhoods and bolstering local economies across the state, as reported by Mass.gov.
Among the awardees of the HDIP funds, details of which can be found in the full press release, are notable developments such as the Linnell Landing in Barnstable with 15 units, Ringside Residences in Brockton housing 50 units, and Sacred Heart Lofts in Fall River adding 36 units. The city of Lowell, particularly, has expressed gratitude towards the Healey-Driscoll administration's efforts. Lowell Mayor Daniel P. Rourke praised the program saying, "We are grateful to Governor Healey and her administration for their commitment to addressing housing needs and fostering economic growth in our city" in a statement reported by Mass.gov.
With the injection of these funds, projects like the Hildreth Building and Isobel Lofts in Lowell will collectively bring 76 new residential units, showcasing the fruits of state and local collaboration. As echoed by Lowell City Manager Thomas A. Golden, Jr., these developments are an exemplary model of what can be achieved through state and local partnerships. Notably, Chestnut Place Office Conversion in Worcester is on track to deliver an impressive 198 new units, evidencing the massive scope and potential impact of the HDIP awards.
