Boston Condos for Sale and Apartment Rentals
Affordable housing units available in downtown Boston
Housing is top of mind for Boston Mayor Michelle Wu this year, if her State of the City address is any indication.
Schools and law enforcement issues cropped up during her speech, but many of Wu’s remarks focused on housing. The mayor even invited first-time homebuyers as guests for her second State of the City, this week at MGM Music Hall, WBUR reported.
Wu pointed to permits approved last year for 7,400 units and the city’s best ratio of affordable housing to market-rate housing in more than a decade.
Affordable housing been an issue on Wu’s agenda since her election to mayor. Her plans aired in the recent speech include a program that would make it simpler to add accessory dwelling units and granny flats to homes.
Wu also discussed the city’s program to convert sparsely used office buildings into residential complexes, according to CBS News. There are already eight proposals for office-to-resi conversions in the city, which could boost housing stock while taking some struggling office properties out of play.
Despite the measure passing the City Council almost a year ago, the State House and Senate don’t appear eager to sign off on the bill.
Where is Ford Realty Located?
Ford Realty is located in 137 Charles Street in Beacon Hill
For more information please contact one of our on-call Boston real estate agents at 617-595-3712.
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Ford Realty Beacon Hill – Condo for Sale Office
Boston condos for sale – Ford Realty Inc
Updated: Boston Condos for Sale Blog 2024
John Ford Boston Beacon Hill Condo Broker 137 Charles Street Boston, MA. 02114
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Boston Condos for Sale and Apartment Rentals
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Boston Real Estate
Yesterday I was reading the Metropolitan council housing policy plan. It tells me what I know already and that is that we do not have enough affordable housing. The demand will continue to grow as more people earn less money.
• People are paying too much for housing: At present, more than 282,000 low- and moderate-income households in the region are paying more than 30% of their household income on housing costs. Nearly 144,000 of those are paying more than half their income on housing.
• Needs are growing: Between 2020 and 2030, the region will add 37,400 low- and moderate-income households who will need additional affordable housing. For comparison, in the first three years of this decade, the region added just under 3,000 new affordable units, far under the need.
Housing costs in the metro area
There is a shortage of housing in general. The population has grown in the last decade and construction has not kept up with it. Some changes in zoning laws and deregulation may help ease the situation. Building more affordable housing in the suburbs might also help.
Boston Real Estate
