Baker-Polito Administration Visits
Homeownership Project in Everett, Highlights $1 Billion Housing Plan Using
Federal Funds
Proposed Investments Would Help Communities of Color Build Wealth
Through Homeownership
EVERETT – The
Baker-Polito Administration today joined municipal officials and community leaders
in Everett to celebrate progress of the redevelopment of the St. Therese parish
property into new housing for families and seniors. The project is supported by
the Administration’s CommonWealth Builder initiative, which aims to connect
families with homeownership opportunities so they can build wealth, especially
in communities of color. The Administration highlighted its proposal to invest
$1 billion in housing initiatives like CommonWealth Builder as part of its $2.9
billion plan to invest a portion of Massachusetts’ federal funds from the
American Rescue Plan Act in urgent priorities to support communities of color
and low-income workers.
“Our Administration
is proud to support the work happening at the former St. Therese property in
Everett because we know the difference these new homes will make in people’s
lives,” said Governor Charlie Baker. “Our proposal to invest $1 billion
in housing priorities using a portion of Massachusetts’ federal funds would
enable the CommonWealth Builder program to have an even greater impact as we
seek to connect more families with homeownership opportunities and the chance
to build long-term wealth. By making these investments, we can accelerate an
equitable recovery, support those who were hardest-hit by the pandemic, and
create real and lasting change in communities across Massachusetts.”
“New housing builds
stronger communities, and the redevelopment of St. Therese is a showcase for
the kinds of housing opportunities we want to unlock across Massachusetts,” said
Lt. Governor Karyn Polito. “Our administration has helped create and
preserve 19,000 affordable homes, and we now have the chance to do so much
more. Thousands of new homes throughout the state are waiting to break ground,
and with $1 billion in federal recovery funds, we can create opportunities for
the communities and residents who were hardest hit by the pandemic.”
The Neighborhood
Developers is in the process of transforming the former church property into 77
new affordable rental homes with supportive services for seniors, as well as 6
townhomes which will be sold to working families at affordable prices. It
anticipates accepting applications to live in the apartments and townhomes by
early 2022.
The Neighborhood
Developers is building the affordable senior rental homes with affordable
housing resources from the Commonwealth and with MassDevelopment financing. The
East Boston Neighborhood Health Center will provide on-site services to senior
residents. The for-sale townhomes are being developed under MassHousing’s
CommonWealth Builder Program, which advances new homeownership and
wealth-building opportunities for first-time homebuyers in communities of
color.
The Baker-Polito
Administration is proposing to invest $1 billion in direct federal aid from the
American Rescue Plan Act (ARPA) into housing to support populations hardest-hit
by the COVID-19 pandemic and help communities of color build wealth. From
that total, $500 million in federal funds would be dedicated to expanding
homeownership opportunities in communities hardest-hit by COVID-19 pandemic by
supporting first-time homebuyers and scaling up the CommonWealth Builder
Program. The Administration has also proposed investing $500 million in federal
funding to create more affordable rental homes, including service-rich rental
units for seniors and veterans.
“Our housing crisis
demands a strategy that will result in more housing of all types across the
Commonwealth,” said Housing and Economic Development Secretary Mike
Kennealy. “Thanks to MassHousing for implementing the CommonWealth
Builder program, we can target homeownership opportunities to families that
have historically faced barriers to purchasing homes and the chance to build
the wealth that comes along with it.”
“The City of
Everett is proud to have partnered with The Neighborhood Developers to
construct a development that will boast our affordable senior housing and
townhomes for first time home buyers,” said Everett Mayor Carlo DeMaria.
“The site of St. Therese holds a special place in our community’s heart, and we
proudly made the decision to repurpose this site as a place that will continue
to serve the community. I am grateful for the combined efforts of the
Baker-Polito Administration, The Neighborhood Developers, MassHousing, Mass
Development, and East Boston Neighborhood Health Center to help the City of
Everett continue our efforts in providing a home for all of our residents.”
“TND is grateful
for being one of the first participants in The Commonwealth Builder program,
which is designed to begin to remedy a history of exclusion and disinvestment
by expanding homeownership opportunities in gateway communities like Everett,” said
The Neighborhood Developers Director of Real Estate Development Steve
Laferriere “With the six townhomes at St. Therese, we are taking a small
step towards dismantling the racial wealth gap by offering families the
opportunity to become homeowners. At the same time, we are also ensuring
seniors can afford to age in place here. We are grateful to the Baker-Polito
administration because none of this would be possible without their support and
leadership.”
“MassHousing is
excited to partner with The Neighborhood Developers and the City of Everett, to
deliver new homeownership opportunities for first-time homebuyers,” said
MassHousing Executive Director Chrystal Kornegay. “We have the opportunity
to deliver real change, at scale, in communities across Massachusetts, by
confronting housing disparities in communities disproportionately affected by
the pandemic.”
“The state’s
shortage of housing supply was a growing concern before COVID-19, but we saw
the impacts of this issue exacerbated by the pandemic – particularly for our
most vulnerable residents,” said MassDevelopment President and CEO Dan
Rivera. “That’s why projects like this one that will provide homes for more
than 80 families and seniors are timely and important, and why the Commonwealth
must meet this moment by creating more rental housing units and homeownership
opportunities across Massachusetts. MassDevelopment was proud to deliver a $9.1
million tax-exempt bond to help The Neighborhood Developers create 33
affordable rental units here at St. Therese, and we will continue to be a
resource for building and preserving housing in the communities that need it
most.”
"I am so
excited to be here today and watch the progress of a much-anticipated project,”
said State Representative Joseph McGonagle. “I think this residential
facility is going to be fantastic for Everett and I've already had so many
residents reach out and express their enthusiasm as well. I am grateful that we
can redevelop the St. Therese site as a community residence to keep the people
of Everett in Everett. Many thanks to Mayor DeMaria, The Neighborhood
Developers and Governor Charlie Baker for their work here today.”
"The pandemic
has further proven that overall health and well-being is inextricably tied to
housing and other non-medical factors,” said East Boston Neighborhood Health
Center CEO Manny Lopes. “Thanks to support from Governor Baker, The City of
Everett, The Neighborhood Developers, and OppCo we're thrilled to be one step
closer to bringing a comprehensive set of services to this new, innovative
complex in Everett. With affordable housing and high-quality healthcare under
the same roof, East Boston Neighborhood Health Center, alongside our partners,
looks forward to maximizing impact on older adults in the community for decades
to come.”
The Baker-Polito
Administration initially proposed its plan to invest a portion of
Massachusetts’ federal funds in June at an event in Haverhill highlighting a CommonWealth Builder
project. The
Administration initially launched the CommonWealth Builder program with a $60 million investment in 2019. Learn more about the program.
