As Central Massachusetts works its way out of a persistent housing crunch, the City of Worcester Affordable Housing Trust Fund is contributing $1.25 million of Community Preservation Act funds to support the creation of 59 affordable housing units.
The funding will benefit eight rental and four first-time homeowner opportunities, according to a press release from the Office of the City Manager on Tuesday.
“These projects represent a diverse mix of housing types and locations, from single-family homes to multi-unit developments,” City Manager Eric Batista said in the press release. “The Affordable Housing Trust Fund allows us to leverage local and federal resources to make tangible progress toward ensuring that residents of all incomes have access to safe, stable, and affordable homes.”
The five rental developments receiving funding are:
- Claremont Street Tiny Homes: Four units receiving $150,000
- Colony on Grove retirement community, Beech building: 12 units receiving $200,000
- Curtis Apartments, phase two: 36 units receiving $225,000
- 12 Benefit St.: Two units receiving $200,000
- 36 Fifth Ave.: One unit receiving $75,000
The three homeownership developments are:
- 104 Armory St.: A two-unit home receiving $200,000
- 33 Ripley St.: A single-family home receiving $125,000
- 26 Claridge Road: A single-family home receiving $75,000
The Worcester Affordable Housing Trust Fund was created in 2021 and seeded with $15 million in funds derived from the American Rescue Plan Act.
The Community Preservation Act, funded by a 1.5% property tax surcharge along with matching funds from the state, was adopted in 2022 after a successful municipal ballot question.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
