For Immediate Release - May 29, 2013

DHCD Invests in 30 New Units of Housing at Lowell’s River’s Edge

BOSTON – May 29, 2013 – Continuing its support of new, affordable housing at Lowell’s River’s Edge development, the Patrick-Murray Administration’s Department of Housing and Community Development today announced up to $1.5 million in funding for the fourth phase of the project.

The fourth and final stage of the project, at the site of the former Julian Steele public housing location, will add 30 units of housing to the development, which when completed will total 180 single-family and duplex homes that are built and then sold to homeowners.

“Our comprehensive housing strategy for the Commonwealth includes creating new housing at every level, including affordable housing that is accessible to a broad range of residents,” said Aaron Gornstein, the Undersecretary of Housing and Community Development. “River’s Edge is a great opportunity for Lowell to create home-buying options through new, quality housing.”

“This is such an important project for the City of Lowell and for those who have been able to realize the dream of owning their own home,” said Sen. Eileen Donoghue. “We are very grateful to Governor Patrick and Secretary Bialecki for their continued support of community development both in Lowell and across the Commonwealth. This is a great example of public private partnership at its best.”

The Patrick-Murray Administration has been a strong partner with the City of Lowell in the project. In 2008, the Department of Housing and Community Development committed $1.5 million that enabled the creation of 90 new homes, which were sold to homeowners. In 2011, the Executive Office of Housing and Economic Development awarded a $1.5 million MassWorks Infrastructure Program grant to the city, supporting upgrades to roads, and water and sewer infrastructure in the area.

Creating new housing is part of the Administration’s efforts to move the Commonwealth forward through investments in infrastructure, innovation and education. In November 2012, Governor Patrick announced a goal of creating 10,000 multi-family units of housing per year, the first production goal of this kind set by any state in the country.  Increasing market-rate housing for families and individuals is part of the Patrick-Murray Administration’s comprehensive plan for improving housing at all levels.

Along with creating new housing, the Administration has made significant investments in the Commonwealth’s public housing stock, by preserving and improving the 46,000 housing units in the system through increased capital funding, increased operating subsidies, and changes in management of those resources.