Boston Mayor Michelle Wu wants to revamp city’s approach to affordable housing
To expand affordable housing, Wu may seek to boost the number of affordable units required in new developments to at least 20 percent from 13 percent. Wu may also cut the number of units required to trigger the inclusion of affordable housing, saying that “there are so many nine-unit proposals because people know that or developers realize that there’s a strict cutoff there.”
The Real Deal • December 26, 2021
The 3 biggest developments in the Greater Philly housing market this year
Gillen’s Philadelphia Housing Affordability Index soared to a new all-time high this summer, when the median house price in the city rose to 4.5 times the median household income. That means unaffordable housing is becoming not only the result of lack of income, as it is for about one in every four Philadelphians, but also the result of soaring house prices.
Philadelphia Magazine • December 23, 2021
In new affordable Portland housing plan, residents buy instead of rent
“They’re working. They make money, but they’re, sort of, priced out of Portland,” Wells said. “They can’t afford to get in other affordable housing projects because they make too much money, but they can’t afford to live in Portland.” Wells also said each unit would be sold between 40-50% below market value. The homes will also be built to “passive house” standards—some of the most energy-efficient construction in the world. Passive houses are currently more expensive to build than traditional homes.
News Center Maine • December 22, 2021