Rep. Vargas Celebrates $950,000 Awarded for Housing/Home-Ownership Project in Haverhill Under Common
Updated: Jul 10, 2021
FOR IMMEDIATE RELEASE
Emrah Fejzic 978-228-1233 | email@example.com
HAVERHILL, MA – The Baker-Polito Administration and MassHousing today announce the first project commitments under the CommonWealth Builder program, a new $60 million program intended to create homeownership opportunities and build generational wealth in communities of color. The CommonWealth Builders program was created through partnership and engagement between MassHousing , Governor Baker, and the state Legislature’s Black and Latino Caucus (MBLLC) and led to the $60 million allocation for new housing. As a member of the MBLLC, State Representative Andy X. Vargas brought the issue of the disparities for homebuyers of color into clearer focus. His ardent support for the program led to Rep. Vargas being featured in MassHousing’s promotional video for the CommonWealth Builder program.
As the agency charged with oversight of the program, MassHousing is committing a total of $3.35 million to four projects, located in Boston, Everett, and Haverhill, which will support the creation of 33 new mixed-income homes, including 23 CommonWealth Builder units.
The Haverhill project , based in the Mount Washington neighborhood, will transform a formerly blighted church property into seven new affordable townhomes for first-time homebuyers. The sponsor, Bread and Roses Housing, is a nonprofit housing developer and community land trust operator based in Lawrence. Two units will be restricted to buyers earning up to 70 percent of AMI, and five units restricted at 120 percent of AMI. The community land trust model, which separates land costs from the cost of homeownership, will allow Bread and Roses Housing to create deep and lasting affordability: Homes at Mt. Washington will sell between $150,000 and $225,000. MassHousing is committing a total of $950,000 to the Bread and Roses project in Haverhill. Other funding sources include HOME funds from the City of Haverhill and private philanthropic funds. Home sales commenced in the spring of 2021.
“Through collaborative conversations with the Black and Latino Caucus and Governor Baker, the CommonWealth Builder program was created to address disparities in homeownership and intergenerational wealth.” I am so proud that the first project is happening in my district and I give my heartfelt thanks to Bread and Roses, MassHousing, the Baker Administration and my Caucus colleagues for working together to make the American dream possible for these families,” said Representative Andy X. Vargas.
“Today’s announcement marks an important milestone in our work to combat systemic inequities by creating new homeownership opportunities across the Commonwealth and particularly in communities of color. These initial project commitments demonstrate the promise of the CommonWealth Builder program to address racial homeownership and wealth gaps, and empower families, by creating new homeownership opportunities in underserved communities.,” said Governor Charlie Baker.