GOV. PATRICK JOINS MAYOR MENINO FOR MAVERICK LANDING GRAND OPENING
Local, state, federal and private partnership leads to over 300 quality affordable housing units
BOSTON - Monday, May 14, 2007 - Governor Deval Patrick today joined Mayor Thomas M. Menino, state and local officials, and East Boston residents to celebrate the transformation of the former Maverick Gardens public housing complex into Maverick Landing, a reconstructed 396-unit, mixed-income waterfront development that includes 305 affordable units for low- and moderate-income families.
"The availability of quality affordable housing in the Commonwealth is one of our biggest challenges, especially in how it affects our long-term economic growth," said Governor Patrick. "This development marks an innovative way to address Massachusetts' affordable housing needs in an efficient and lasting manner."
With its proximity to public transit, waterfront views of downtown Boston, and an active commercial area, the $121 million renovation of Maverick Landing was funded in part through a $35 million HOPE VI grant that was awarded in 2001 to the Boston Housing Authority from the U.S. Department of Housing and Urban Development. In addition, more than $6.5 million in state and federal program funds administered by state agencies, along with nearly $50 million generated through low-income housing tax credit equity, helped make this development possible.
"Maverick Landing provides a seamless neighborhood interaction which brings not only a sense of community, but a sense of community values as well," said Tina Brooks, Undersecretary for the Executive Office of Housing and Economic Development. "Seeing its success, we hope to fund one or two similarly innovative mixed-income developments in the coming year."
Governor Patrick has made the creation of quality affordable housing a top priority. His administration has doubled the investment in the SoftSecond housing program and increased by $40 million the investment in the Affordable Housing Trust program, both very successful initiatives to put homeownership within reach of low and middle income individuals and families. In addition, the administration has committed $85 million this year to restore public housing facilities and make those housing opportunities more broadly available.