MassHousing and Secretary of Housing and Livable Communities Edward Augustus were honored as Gateway Cities Champions by MassINC at the organization's annual Gateway Cities Innovation Summit. Pictured from left are Secretary Augustus, MassHousing CEO Chrystal Kornegay and MassINC CEO Joe Kriesberg.

The award recognized MassHousing's leadership in developing a number of programs helping to uplift Gateway Cities, including CommonWealth Builder, MassDREAMS, the Massachusetts Community Climate Bank, the Neighborhood Stabilization Program and the Neighborhood Hub.

At the event, MassINC released two research reports produced with support from MassHousing: the 1st Annual Gateway Cities Housing Monitor and the Massachusetts School Centered Neighborhood Development Playbook.

MassHousing Board Chair Jeanne Pinado (left) was named to the Boston Business Journal’s 2024 Power 50: The Movement Makers...Board Member Carmen Panacopoulos was selected as one of the 2024 ALX100 by Amplify LatinX...Michael A. Glover, Vice President and Senior Counsel, Real Estate and Strategic Operations at Northeastern University, has been appointed to MassHousing's Board. We extend our thanks and appreciation to former Board Member Jerald Feldman for his years of service to the Agency.

CEO Chrystal Kornegay (pictured at right) participated in a panel discussion on Equity in Homeownership at the Mass. Black Expo, which is hosted annually by the Black Economic Council of Massachusetts (BECMA). The theme of this year's event was "Building Black Wealth, Empowering Black Voices"

Twenty years ago, before the global financial crisis and the COVID-19 pandemic, MassHousing launched Mortgage Insurance with MIPlus. Through those challenging times and still today, this innovative mortgage insurance product provides stability, security and peace of mind for MassHousing borrowers.

Unlike traditional MI, MassHousing Mortgage Insurance with MIPlus protects both the borrower and the bank, providing up to $4,000 per month for up to six months to help homeowners pay their mortgage if they lose their job. MIPlus was created with the understanding that unemployment is usually temporary, and that supporting a borrower while they look for a new job serves them better over the long term. 

Since the program was launched, nearly 1,500 borrowers have received more than $7 million in MIPlus benefits, helping them remain in their homes while they search for new employment.

The added mortgage payment protection coverage is available at no additional cost on all loans insured by MassHousing, which includes MassHousing loans and portfolio loans from partner community banks that are insured through our Mortgage Insurance Fund (MIF). The MIF is an approved mortgage insurer for Freddie Mac, Fannie Mae, and the Federal Home Loan Bank of Boston. Learn more at masshousing.com/miplus. 

MassHousing helped celebrate the completion of Gemini Townhomes in Springfield, where $12.6 million in CommonWealth Builder financing helped Home City Development construct 40 new homes for sale for moderate-income homebuyers. The parcel was previously host to several uses since 1900, including a steam laundry facility, warehouse, office building and auto repair shop...The Boston Globe featured Brookley Flats in Boston's Jamaica Plain neighborhood, a new 45-unit homeownership community being developed by Jamaica Plain Neighborhood Development Corporation and Causeway Development, where about half of the units are being reserved for first-generation homebuyers.

MassHousing BILD (Bringing Innovation to Lending and Development) creates financing solutions for market-oriented, mixed-income rental housing construction to catalyze private capital investment.

Through BILD, MassHousing will provide a one-stop financial solution by offering a competitive senior debt product coupled with innovative equity financing. Learn more at masshousing.com/bild.

Recent Rental closings and events

Salem Schools Redevelopment, Salem

North Shore Community Development Coalition will use $22 million in MassHousing financing to redevelop two former school buildings near downtown Salem into 61 new affordable rental homes for residents with a range of incomes. Read more.

Blue Mountain Apartments, Boston (Roxbury)

A ribbon-cutting was held to celebrate the rehabilitation and refinancing of the 217-unit Blue Mountain Apartments, a scattered-site development that consists of 19 walk-up buildings constructed between 1910 and 1930. MassHousing provided the nonprofit NHP Foundation with $64.7 million in financing for the project.

Meshacket Commons, Edgartown

Construction is underway in Edgartown on Martha's Vineyard, where Island Housing Trust and Affirmative Investments are developing a new 36-unit affordable rental community with the help of $14.5 in MassHousing financing. The project is being built on an undeveloped town-owned parcel located 1.5 miles from downtown, and will be built to Passive House standards.

Rindge Commons, Cambridge

MassHousing, Congresswoman Ayanna Pressley, city and state officials helped Just-A-Start celebrate the completion of Rindge Commons. The 70,000 square foot Economic Mobility Hub will provide well-integrated services including a state-of-the-art education and job training center for youth and adults, 24 affordable apartments, housing resources, and universal pre-kindergarten classrooms available to the entire neighborhood. MassHousing provided $8.5 million in financing for the project

Riverside Towers, Medford

Congratulations to the Schochet Companies, Jonathan Rose Companies and residents of the 199-unit Riverside Towers in Medford, where $11 million in renovations are now complete.

Clifton Place, Cambridge

MassHousing joined federal, city and state officials for a groundbreaking event for Clifton Place, the first phase of the extensive rehabilitation of the 175-unit Jefferson Park public housing community in Cambridge. MassHousing provided a total of $88.6 million in financing for Phase 1, which will replace 132 units with 195 units. Overall, there will be a total of 278 new units on the site, which will be better integrated with the surrounding neighborhood.

41 LaGrange, Boston (Chinatown)

Construction is underway at 41 LaGrange Street in Boston's Chinatown neighborhood, where more than $28 million in MassHousing financing is helping POUA and St. Francis House develop a 19-story tower with 126 affordable rental units. Here are stories on the project from WGBH and WBUR.

Prospect Place, Northampton

MassHousing was in Northampton to help Valley Community Development Corporation celebrate the start of work at Prospect Place, where $7.4 million in MassHousing financing will support the redevelopment of a former nursing home built in 1971 and vacant since 2011 into 60 new apartment homes.

Stone Mill Lofts, Lawrence

MassHousing joined Congresswoman Lori Trahan, Mayor Brian DePeña, city, state and federal officials to help WinnCompanies mark the completion of Stone Mill Lofts, one of the first all-electric multifamily properties in Massachusetts. MassHousing provided $25.8 million in financing to transform the oldest mill in Lawrence into 86 units of affordable and market-rate housing. The development's fossil-fuel-free design is expected to use 46% less energy and emit 33% fewer greenhouse gases than a typical gas-fired multifamily structure. Here's a story on the project from Fast Company.

Two MassHousing-financed multifamily communities were recipients of Affordable Housing Finance magazine's 2024 Readers Choice Awards. Morton Station Village (pictured) won in the Family category, and Mission Main won in the Preservation category. View profiles of the winners...J.J. Carroll House in Brighton placed first in the Affordable Housing category in the nationwide Senior Housing News Architecture and Design Awards...The Charlestown (formerly Zelma Lacey House) won the 2024 Vanguard Award for Major Rehabilitation of an Existing Rental Housing Community from the National Affordable Housing Management Association (NAHMA).

MassHousing's TAP Program supports housing developments by providing a variety of resources and benefits to residents and staff. Each year, hundreds of rental housing developments across Massachusetts join TAP and have access to trainings, resident engagement programs, dispute resolution, and hoarding consultation and flex funds. Here's how TAP-enrolled sites utilized the program's benefits in FY2024:

• Trainings: 44 Housing Stability training sessions with over 2,700 registrants
• Resident Engagement Programs: nearly 800 programs with more than 15,000 participants 
• Dispute Resolution: 32 requests for dispute resolution services
• Hoarding Consultation and Flex Funds: 26 consultation referrals regarding 55 residents with hoarding behaviors and 23 virtual group discussion sessions

To learn more about TAP and its many benefits, or to enroll your site today, visit masshousing.com/TAP.

More than 100 housing, governmental and environmental professionals gathered in the UMass Club to recognize the first anniversary of the Massachusetts Community Climate Bank (MCCB), celebrate its accomplishments and discuss what's to come. Pictured above from left are State Rep. Joan Meschino, Lt. Governor Kim Driscoll, the MCCB's Maggie Super Church and Massachusetts Climate Chief Melissa Hoffer. The MCCB, which is being incubated at MassHousing, is the first green bank in the country to focus on decarbonizing affordable housing and is a key component of the state's plans for achieving net-zero carbon emissions in the year 2050. Read more about the event and the MCCB's first year accomplishments.

MassHousing joined local and state officials to help Way Finders break ground on the rehabilitation of 24 Los Angeles Street in Springfield. The project, which received support through MassHousing's Neighborhood Stabilization Fund, is part of the broader City of Homes initiative, which is acquiring and redeveloping blighted residential properties in Springfield for affordable homeownership.