City Of Boston: Renovation Of 201 Affordable Units In Roxbury And Dorchester Celebrated

Press release from the City of Boston:

August 17, 2021

“Welcome home to all the residents of the Lorenzo Pitts properties who now have renovated, modern homes where they can live affordably and prosper well into the future,” said MassHousing Executive Director Chrystal Kornegay. “MassHousing commends the Jamaica Plain Neighborhood Development Corporation and the estate of Lorenzo Pitts – as well as the city, state and private partners involved in this project - for their commitment to preserving this important affordable housing portfolio in Dorchester and Roxbury.”

Launched in 2017, the goal of the AOP program is to allow affordable housing developers and nonprofits to fight displacement by acquiring units off of the private market and securing affordable rents for current and future residents for the long term. AOP allows these buyers to compete with speculative buyers and preserve rental units at below-market rates for low-income Bostonians. To date, funding from this initiative has created 597 new units of affordable housing, of which 310 have been restricted at or below 60 percent of area median income (AMI) and 287 units at or below 100 percent AMI. 

This press release was produced by the City of Boston. The views expressed here are the author’s own.