State leaders on Wednesday unveiled plans for a $100 million fund they say will create more apartments working families can afford.
The fund, announced in Lynn, will provide to developers up to $100,000 of subsidy per rental unit, according to a release from the Baker administration, for a goal of 1,000 units of workforce housing statewide.
The money is targeted at households earning 61 percent to 120 percent of area median income.
Said Gov. Charlie Baker in a statement:
Making more affordable housing options available to working Massachusetts families deterred by rising rent expenses is essential to economic growth and development in communities throughout the Commonwealth. These working middle-income families are the foundation of our economy and talented workforce, and the creation of this $100 million fund by MassHousing will advance opportunities for them to thrive and prosper.