LAWRENCE — More affordable housing is coming to Lawrence.
“We are proud to support an excellent project here in Lawrence, another step in an amazing transformation of the Arlington Mills National Historic District into a thriving residential neighborhood, zoned for up to 1,000 housing units,” Lt. Gov. Karyn Polito said. “Since 2015, we’ve invested in revitalization efforts like this across the state, creating new housing, jobs, and new opportunities for cities and towns and have directed more than $1.4 billion to our affordable housing ecosystem. Cities like Lawrence are using state and federal funds to pursue a new vision that puts housing at the center of communities.”
Polito joined Gov. Charlie Baker and other administration officials in Lawrence Thursday to announce hundreds of millions of dollars, including $93.3 million in direct subsidies from the state, going to 28 affordable housing projects across 21 cities and towns in the commonwealth. A mill redevelopment project in Lawrence is receiving state funding.
“Having accessible housing options in Lawrence is a necessity for our community members and their well-being,” Mayor Kendrys Vasquez said. “Lawrence is a community; safe and affordable housing is vital for our residents to thrive. This partnership between the city and the state will provide Lawrencians opportunities to deepen their roots in the city that they love. I am proud of the work we are doing to create housing opportunities and grateful to all the people partnering with us.”
The 28 projects across the state will create 1,526 new rental units, including 1,346 rental units affordable for low- and extremely low-income households, according to state officials.
“As Massachusetts continues to recover from the COVID-19 pandemic, it is important that we continue to prioritize new affordable housing development to help our most vulnerable families,” Baker said.
The administration is also allocating $45.8 million in federal and state tax credits for these projects. An additional $310 million is coming from private companies.
Baker and Polito made the announcement at the site of a project that will transform a former mill into new housing for residents in Lawrence.
The Lawrence project, sponsored by Trinity Financial, Inc., will create 87 new units of housing, with 66 units restricted for households earning less than 60% of the area median income, including 17 units further reserved for those with extremely low incomes or who are transitioning from homelessness. The project is supported by federal and state low-income tax credits and subsidy funds, and the city will provide funding as well.
“Trinity Financial is grateful for the Baker-Polito Administration’s leadership on affordable housing and their commitment to the Gateway City of Lawrence,” said Dan Drazen, vice president, Development, at Trinity Financial. “This tax credit award will enable us to leverage both public and private funding and undertake a transformative adaptive reuse project. Building upon the momentum of our adjacent Arlington Point project, which was completed in 2019, the 608 Broadway project will breathe new life into a historic asset, provide mixed-income housing and continue the multi-phase revitalization of the Arlington Mills Historic District.”