Boston.com wrote a piece about Mayor Marty Walsh’s new initiative entitled “Mayor Promises Home Creation on City-Owned Parcels“. I don’t know the specifics of how this will work but if it’s going to be an expansion of the existing process that the Department of Neighborhood Development (DND) has been using for years then I have very few gripes. Here’s the link to a .pdf entitled “Limiting Assets and Certain Forms of Financing in DND Homebuyer & Homeworks Help Home Repair Program” which details the limitations put on buyers of these types of properties by the City of Boston. 20 Quincy Street, Dorchester, currently listed at $294,673, and 1-A Drayton Avenue, Dorchester, currently listed at $280,000, are good examples of these types of properties. It seems as though $20,000,000 has been earmarked for the 250 new housing units that Mayor Marty Walsh has seemingly promised on vacant land owned by the City of Boston. How will that $20,000,000 be spent? Is it going to be used as a subsidy for the for-profit and non-profit builders that will be working with the City of Boston to build these housing units? I don’t know. If it’s an entirely new program which is not yet clear to me, because the specifics haven’t been outlined yet, then I am inherently skeptical. I did notice a link on the Department of Neighborhood Development’s Property Development page entitled “Middle Income Housing Initiative” but that link isn’t working yet.
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