Massachusetts Receives $140M to Convert Empty Buildings Into Homes

Photo: Governor Maura Healey/Facebook

Massachusetts Gov. Maura Healey has announced more than $140 million in funding to create affordable housing across the state, turning empty commercial buildings into new homes.

Healey's announcement on Tuesday, Feb. 17, noted that $139.5 million in funding from the Affordable Housing Development Grant Program would support funding 15 rental housing developments statewide. Approximately $8.4 million is allocated to help communities transform rundown commercial buildings into new homes.

According to a Boston 25 News report, these projects will represent 1,008 new homes. This number reflects 903 affordable homes and 284 homes for extremely low-income households.

Commercial Conversion Tax Credits will retrofit vacant commercial buildings into 339 new homes through five projects in Boston, Fitchburg, New Bedford, Pittsfield, and Worcester. They include the following projects:

150 Milk St. (Boston): 18 homes | $970,000
Main Street Lofts @ 280 (Fitchburg): 35 homes | $1,298,757
4586 Acushnet (New Bedford): 65 homes | $1,130,448
24-34 North Park Square Residences (Pittsfield): 23 homes | $1,390,014
One Chestnut (Worcester): 198 homes | $3,600,000

Additionally, the Executive Office of Housing and Livable Communities will award tax credits and subsidies to the following projects: