Advisory Center for Affordable Settlements & Housing

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Document Type General
Publish Date 24/07/2013
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Published By http://www.bankerandtradesman.com/news156836.html
Edited By Tabassum Rahmani
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United States: Cambridge is a Model for Affordable Housing Initiatives

The city of Cambridge is setting the standard in Massachusetts in utilizing innovative resources to help preserve affordable housing units. Four years after the passage of Chapter 40T (An Act to Preserve Publicly Assisted Affordable Housing), Massachusetts is seeing tangible success in maintaining affordable homes. And Cambridge has become a model in how city, state, and nonprofit actors can work together to ensure that these units remain available to low income families and individuals.  No city has taken better advantage of 40T, along with funding from the Massachusetts Preservation Loan Fund, than Cambridge. Recently, Cambridge witnessed the preservation of Putnam Square Apartments through the cooperation of DHCD; Harvard University; the city of Cambridge; the nonprofit developer Homeowner’s Rehab Inc.

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