On Wednesday, July 25, 2018 the Department of Housing and Community Development (DHCD) of Massachusetts announced the recipients of the 2018 Rental Round Awards with Hearth at Four Corners being one of 19 projects selected to receive federal and state tax credits.
Hearth hosted the announcement at the future site of Hearth at Four Corners, located in Dorchester.
Hearth at Four Corners represents an evolution. With this 54 unit project, we are broadening our vision to include seniors who have not fallen into homelessness, but who may be teetering on the edge.
As always, our mission is to end elder homelessness through housing, prevention, and stabilization.
We look forward building Hearth at Four Corners so that all seniors have safe, supportive, and an affordable home for the rest of their lives. We hope you’ll join us as we carry out this important project for our elders.
Press release from Governor Charlie Baker's Office
Today, Governor Charlie Baker announced this year’s affordable rental housing awards, which will provide $57 million in direct subsidies for 19 projects to fund the development, renovation and preservation of housing opportunities throughout the state. Since 2015, affordable housing awards have led to the creation and preservation of more than 6,300 housing units alone, furthering the Baker-Polito Administration’s commitment to increasing access to affordable and middle-income housing in every region of the Commonwealth.
“These rental housing awards support our Administration’s commitment to create more housing opportunities in neighborhoods across Massachusetts,” said Governor Charlie Baker. “We have also drafted legislation to develop 135,000 units of new housing by 2025 that has been endorsed by several businesses, local officials, trade organizations and community groups, and encourage the Legislature to pass this bill to build more affordable housing and support economic development in every zip code.”
The $57 million in state funding will support affordable, multifamily rental projects. Funding sources include federal HOME funds and state bond funds from six capital bond accounts. Additionally, the Department of Housing and Community Development (DHCD) is awarding $33.5 million in federal and state housing tax credits which will generate more than $240 million in equity to support the construction and preservation of 1,463 units, including 1,312 affordable units with 227 units reserved for very low-income households. Funded projects include six developments for seniors, three projects that will support substantial renovations of public housing developments, and four transit-oriented developments. Many include housing units reserved for formerly homeless families and individuals.
“The diverse array of awards represents the varied needs of our Commonwealth, and we are thrilled to support 19 high-impact projects that will provide much-need new housing, and maintain our current stock of affordable housing,” said Lt. Governor Karyn Polito. “We are proud to partner with many cities and towns, including the 69 Housing Choice Communities we designated in May, that have a keen understanding of their specific housing needs, and we are pleased to support locally driven projects to meet the needs of Massachusetts residents.”
Governor Baker joined Housing and Community Development Undersecretary Janelle Chan, City of Boston’s Chief of Housing and Director of Neighborhood Development Sheila Dillon, Representative Russell Holmes, Hearth President & CEO Mark Hinderlie, and local officials at the future site of Hearth at Four Corners, a 54-unit, new construction project for seniors. The development, in Boston’s Dorchester neighborhood, will be entirely affordable, with 19 units reserved for extremely low-income seniors, and provide extensive supportive services for tenants. The project received state and federal tax credits and direct subsidies from the state, along with funding from the City of Boston.
“More people are currently employed in Massachusetts than at any point in our history, and we need a housing market that can support working families at all income levels so that they can fully participate in this economy,” said Housing and Economic Development Secretary Jay Ash. “Today’s awards help increase options for families to access safe, affordable, and stable housing, a critical foundation for success and prosperity, both for themselves and for our communities.”
“Across our Commonwealth, more and more young families are finding they are not able to put down roots, seniors are not able to age in their communities, and hard-working residents are spending more of their paychecks and precious time traveling further to get to their jobs,” said Housing and Community Development Undersecretary Janelle Chan. “Today’s awards will enable communities to grow with their residents, and be a part of a state-wide and regional response to the affordable housing crisis.”
“Our state like most states in the nation is in the midst of a housing shortage,” said Senator Nick Collins. “Now, more than ever, government and its partners need to continue their commitment to supplying the demand for housing that is affordable. Today’s announcement is one example of that commitment and I look forward to continuing to help provide individuals and families with supportive services as well as housing opportunities that they can afford,” concluded Senator Collins.
“Thank you to the Baker-Polito Administration for making housing a priority, and funding this important project in Dorchester,” said Representative Russell Holmes.“This project will create vital senior housing, and transform a vacant lot into a necessary resource for this neighborhood.”
To read the full statement and list of projects being funded please click here.