Low and Middle

Class Affordable
Housing
By Isabel, Emma, Dawit and Nealaksi
 What is Affordable Housing?

➔ Housing that is accessible to those below the

median household income or recognized by
the affordability index.

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 What issues exist?

╺ Homelessness

╺ Minimum wage not rising with same

momentum as housing prices

╺ Large income disparity

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 What issues exist?

╺ Increasing population

╺ Tight inventory

╺ High demand

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Why Affordable
Housing?
- Helps families

- Helps communities

- Reduces gentrification

- Increases social and economic diversity

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 The 30% Rule

However…

22% of all
non-student
households in Boston
paying >50% of their Source: U.S.
Census Bureau,

income on housing
2012-2016
American
Community
Survey, DND
6 Analysis of
Permitting Data.
 This makes sense.

Let’s break it down...

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Min. Wage = $12

Typical work week: 40 hrs

$480/week → $25,000/year - taxes = $17,000 (net)

Quincy avg. rent: $1,300/month →

$15,600/ year
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 Recommendations
- Build TALL

- Tax high-end real estate

- Mayor Walsh’s 2030 plan (69,000 units by 2030, 1,000 preserved)

- Private developers create affordable housing

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 Recommended Option
Mayor Walsh’s 2030 Plan - Revised
- Prevents eviction and helps first-time buyers

- $50 Million annually

- Apartments rented out

- 69,000 new units in neighborhoods surrounding the city

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Plan of Action -
Funding
Existing Private resources:
- Mass Housing Partnership (MHP)
- Mass Housing Investment Corporation
LIHTC:
(The Low-Income Housing Tax Credit)

- Incentives for investors to fund

Linkage Fees:
- Allows for funding expansion
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Plan of Action
╺ Establish partnership with private
resources

╺ Private resources will:

╶ Hire developers
╶ Obtain project necessities
╶ Build affordable living spaces

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11 Years Later...

1) Low and middle income tenants

move in
2) Tenants pay subsidized price to
private companies
3) Community Preservation Act ($20
million funding - split) and $20
million federal housing fund will pay
for rest

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 Results
➔ Diversity of tenants in Boston area would
increase

➔ More low and middle income tenants

➔ Population increase

➔ Job diversity

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 “
"Addressing rising housing costs is
critical for preserving the diversity
and character that makes Boston a
place where all residents can thrive."
- Mayor Marty Walsh

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