Boston Mayor Marty Walsh is calling for a $21 billion investment in the city's housing stock to build 53,000 new units by 2030.
Walsh says the public and private construction is needed to keep up with the city's growing population — forecast to rise above 700,000 by 2030 — and to tamp down high housing costs for middle- and low-income residents.
The 53,000 new units would equal a 20 percent increase in the city's overall housing stock.
Part of the mayor's plan calls on the city's colleges and universities to build more dormitories, to free up off-campus apartments and save students from living in substandard rental units.
The plan also calls for loosening zoning restrictions, providing incentives for building taller buildings, and encouraging development around public transportation hubs.
Walsh's predecessor, Thomas Menino, last year announced a goal of creating 30,000 new housing units by the end of the decade.
With reporting by the WBUR Newsroom and The Associated Press
This article was originally published on October 09, 2014.