Two Somerville Affordable Housing Projects Receive State Help
The Somerville Community Corporation received $3.9 million in subsidies and tax credits to build 39 affordable housing units in the city.
The Somerville Community Corporation, an organization that develops affordable housing, among other things, has received about $2.3 million ($2,259,000) in subsidies from the Massachusetts Department of Housing and Community Development for the construction of Saint Polycarp Village Phase III, according to an announcement from the governor's office.
In addition, the Saint Polycarp Village Phase III project will receive $619,550 in federal low-income housing tax credits, the announcement says.
Located along Mystic Avenue, Saint Polycarp Village Phase III will create 31 new affordable housing units, and five of those will be reserved for extremely low-income households, according to the announcement.
The Somerville Community Corporation also received $1 million in Department of Housing and Community Development subsidies to build eight units of affordable housing on Cross Street. In 2010, Somerville Community Corporation bought an abandoned building at 75 Cross Street for the project, according to the organization's 2010 annual report.
The eight Cross Street units will be reserved for extremely low-income households, according to the announcement.
In addition to bringing 39 units of affordable housing into Somerville, the two housing projects are expected to create a total of construction 67 jobs, according to the announcement.