Governor Maura Healey announced the allocation of $15 million in Housing Development Incentive Program (HDIP) funds to support the construction of 829 new homes across six Gateway Cities in Massachusetts. This funding marks the beginning of the 2025 funding round and includes significant projects such as the Portico developments in Revere and the Bedford Street Lofts in Fall River. The initiative aims to revitalize downtown areas and provide affordable housing options, addressing the ongoing housing crisis in the state.
Governor Healey emphasized the importance of these investments in creating market-rate housing and stimulating local economies, stating that nearly 100,000 new homes have been built or are in development since her administration began. The HDIP program, which has seen its funding cap raised to $30 million annually, is viewed as a critical tool for enhancing housing availability and fostering vibrant communities. The announcement coincides with the one-year anniversary of the Affordable Homes Act, which represents a historic investment in housing in Massachusetts.
