News: Front Section

MassHousing awards $150,000 financing for affordable sober housing

MassHousing has awarded $150,000 in financing to help create or preserve affordable sober housing in Sandwich and Tewksbury. The MassHousing grants will come from the Center for Community Recovery Innovations, Inc. (CCRI), a nonprofit subsidiary corporation of MassHousing that creates and preserves affordable sober housing in Massachusetts for recovering substance abusers. Receiving grants in the latest round of CCRI funding are: * Community Green, Housing Assistance Corporation, Sandwich, $75,000 to help construct 10 singleperson occupancy units. * Tewksbury State Hospital Sober Residence, Simple Living, Inc., Tewksbury, $75,000 to help create 18 new units of sober housing for men. CCRI to date has awarded nearly $6 million in grants for nearly 1,400 units of substance-free housing in more than 30 communities for men, women, families, veterans, the homeless and exoffenders. "Having a quality, substance-free place to live often makes all the difference for residents of our state trying to overcome substance abuse," said MassHousing executive director Thomas Gleason. "These latest CCRI grants will not only help men and women battling addiction in trying to return as productive members of society, but will also be valuable housing resources for the communities of Tewksbury and Sandwich." CCRI issues an annual Request for Proposals (RFP) to solicit projects for funding. The proposals that are selected need to meet CCRI's current priorities and eligibility categories. The grants are typically used as one-time gap funding for capital projects that increase or improve the stock of affordable sober housing in Massachusetts. Other proposals that provide services for residents in MassHousingfinanced rental housing, specifically those that address alcohol and/or drug abuse or addiction, are also considered for funding. About MassHousing Celebrating its 45th anniversary, MassHousing (The Massachusetts Housing Finance Agency) is an independent, quasi-public agency created in 1966 and charged with providing financing for affordable housing in Massachusetts. The Agency raises capital by selling bonds and lends the proceeds to low- and moderate-income homebuyers and homeowners, and to developers who build or preserve affordable and/or mixed-income rental housing. MassHousing does not use taxpayer dollars to sustain its operations, although it administers some publicly funded programs on behalf of the Commonwealth. Since its inception, MassHousing has provided more than $13 billion for affordable housing.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary