SouthCoast Affordable Housing Projects Awarded State Funding
Affordable housing projects in New Bedford and Wareham are among 15 developments awarded $63 million in state subsidies, officials announced Friday.
The projects are expected to create or preserve 697 rental housing units, with nearly 479 of those designated for low-income households.
Another 150 units will be set aside for extremely low-income people or households, often those transitioning from homelessness.
Federal and state low-income housing tax credits are also expected to generate over $200 million to support new construction and rehabilitation of existing housing.
In New Bedford, state and local subsidies along with low-income housing tax credits will support a new construction of 45 total units at 117 Union St. downtown.
Of these, 32 units will be reserved for households earning less than 60% of the area median income, while eight units will be restricted to those earning less than 30%.
A Wareham construction project called Littleton Drive Family, next to Littleton Drive Senior, will hold 49 residential units.
Households earning less than 60% of the area median income will be eligible for 39 of the units, with eight units reserved for those earning less than 30% of the area median income.
It is unclear exactly how much money will be awarded to each project, and Massachusetts housing officials could not immediately be reached for comment.