Press Release  Governor Healey Awards $24.5 Million to Create Affordable Homes for First-Time Buyers

Boston — The Healey-Driscoll Administration and MassHousing today announced $24.5 million in CommonWealth Builder awards to create 123 new affordable homes for first-time homebuyers in Boston and Brockton, helping more residents buy a home, build equity and build their futures in Massachusetts. 

The announcement was made at 27-29 Hancock St. in Boston’s Beacon Hill neighborhood, one of four projects receiving CommonWealth Builder funding. The site will be redeveloped by the nonprofit community developer Fenway Forward into 15 new affordable homes for purchase by first-time homebuyers. 

The CommonWealth Builder awards will support new affordable homeownership development in Boston’s Beacon Hill, Mission Hill and Roxbury neighborhoods and in Brockton. The program, administered by MassHousing, helps create new homes that are affordable to first-time homebuyers by closing financing gaps on for-sale developments that might not otherwise be built, creating new opportunities for first-time buyers across a range of incomes. 

“We want Massachusetts to be a place where people can live, work, raise a family and build a future in the communities they love,” said Governor Maura Healey. “Creating more homes for first-time buyers is an important part of that work. These projects will help turn underused properties into new homeownership opportunities while giving more families the chance to put down roots and build wealth here in Massachusetts.” 

“We know Massachusetts needs more homes, and that includes more homes that working families can afford to buy,” said Lieutenant Governor Kim Driscoll. “These awards will help turn vacant and underused sites into new homeownership opportunities while supporting first-time buyers who are ready to put down roots here.” 

“Affordable homeownership cannot be treated as an afterthought in our housing strategy,” said Housing and Livable Communities Secretary Juana Matias. “CommonWealth Builder is helping close the gap between what it costs to build new homes and what first-time buyers can afford, giving more families a fair shot at homeownership, financial stability and the opportunity to stay rooted in Massachusetts.” 

"We are grateful to the state and all our community partners for the coordinated action to tackle the Greater Boston region’s housing shortage. By investing in ready-to-deliver projects, we are creating more homes for families throughout Boston, helping residents put down roots and keep our communities strong," said Boston Mayor Michelle Wu. "I’m especially thankful to our neighborhood partners who helped shape the vision for these new homes and are ready to welcome new neighbors to this wonderful community." 

The Affordable Homes Act included $100 million in new capital authorization for the CommonWealth Builder Program to support the creation of affordable homeownership units. The administration is also advancing the Massachusetts Homeownership Tax Credit, created through the Affordable Homes Act and administered by MassHousing, which provides up to $10 million a year annually through calendar year 2029 to support the development of new affordable homes.  

“MassHousing is committed to expanding sustainable homeownership opportunities across Massachusetts and ensuring that homebuying opportunities remain within reach for working families,” said MassHousing CEO Chrystal Kornegay. “The CommonWealth Builder Program is helping create new affordable homes for first-time buyers in communities where homeownership has become increasingly difficult to attain. These awards, combined with expanded homebuyer assistance, will help more Massachusetts residents take the next step toward owning a home.” 
 

“Fenway Forward is honored to receive support through the CommonWealth Builder program for the 27–29 Hancock Street project,” said Suneeth P. John, Fenway Forward Deputy Director. “This investment will help create permanently affordable homeownership opportunities in one of Boston’s most historically exclusive and high-cost neighborhoods. We are grateful for the support of the Commonwealth’s Executive Office of Housing and Livable Communities, the City of Boston Mayor’s Office of Housing, and engaged resident stakeholders including the Beacon Hill Civic Association and Homes on Hancock, whose partnership reflects a shared commitment to maintaining Beacon Hill as a vibrant and welcoming neighborhood.” 

The administration and MassHousing are also expanding homebuyer assistance for middle-income first-time homebuyers. Governor Healey has invested an additional $25 million so that MassHousing can offer more eligible first-time homebuyers up to $25,000 in homebuyer assistance at 0 percent interest with deferred repayment terms.  

Eligible homebuyers can use the enhanced assistance to help cover a down payment, closing costs, prepaid mortgage insurance, or to lower a borrower’s interest rate. The investment is expected to help at least 1,000 additional middle-income households achieve homeownership in Massachusetts. The enhanced assistance is available to eligible first-time homebuyers who lock a MassHousing mortgage between April 27 and July 31, 2026. 

MassHousing already offers up to $25,000 in down payment and homebuyer assistance loans to moderate- and middle-income households purchasing a first home in any Massachusetts community. Prior to the administration’s investment, this assistance was offered in the form of a 15-year second mortgage with interest rates ranging from 2 to 3% percent depending on household income. With the new funding, that assistance is now available as a second mortgage with a 0 percent interest rate and deferred repayment terms. 

Since the beginning of 2023, MassHousing has provided over $1.9 billion in mortgage financing to help more than 5,900 households achieve homeownership. That total includes over $570 million in mortgage financing to support 1,600 first-time homebuyer purchases in the state’s Gateway Cities. Since its inception in 1966, MassHousing has provided $16 billion in financing to nearly 95,000 Massachusetts homebuyers. 

The administration is also helping expand access to homeownership through Massachusetts Housing Partnership’s homeownership programs, including ONE Mortgage, ONE+ and ONE+Boston, which help eligible first-time buyers lower borrowing costs and access financial assistance. Since 1991, MHP has provided over $5.3 billion in below-market bank financing and made it possible for more than 26,000 low- and moderate-income families in Massachusetts to purchase their first home. 

CommonWealth Builder Awarded Projects

27-29 Hancock Street, Boston  
The nonprofit community developer Fenway Forward will construct 15 new affordable homes for purchase by first-time homebuyers at 27-29 Hancock St. in Boston’s Beacon Hill neighborhood. The property is a vacant building that formerly served as a single-room occupancy lodging house. The completed project will be all-electric and will incorporate energy-efficient fixtures and Energy Star-rated appliances. Eight condominiums will be affordable to households earning up to 100% of area median income and seven units will be affordable to households earning up to 80% of area median income. Homes are expected to sell for between $199,314 and $368,973. The city of Boston is providing $3.5 million in matching funding. Construction is expected to begin later this year, with completion anticipated in spring 2028.  

Mission Hill Pathway, Boston  
Mission Hill Pathway is a five-story new construction project to be built in Boston’s Mission Hill neighborhood by a partnership between Oxbow Urban, DVM Housing Partners and JGE Development LLC. The project will redevelop a vacant, city-owned lot and create 48 new affordable condominiums, all of which will be sold to first-time homebuyers. Twenty-four homes will be affordable to homebuyers earning up to 100% of area median income and 24 will be affordable to households earning up to 80% of area median income. Mission Hill Pathway will feature all-electric building systems and will be designed to be Passive House-compliant and to meet the Massachusetts Stretch Energy Code. Homes are expected to sell for between $199,314 and $368,973. The city of Boston made the parcel available for development and is providing about $4 million in matching funding. Construction is expected to begin later this year, with completion anticipated in spring 2029.  

NUBA Homes, Boston  
NUBA Homes will create 45 new affordable condominium homes in a six-story building in Boston’s Roxbury neighborhood. The sponsor is Urbanica Inc. NUBA Homes will serve first-time homebuyers across a range of incomes. Thirteen units will be affordable to households earning up to 120% of area median income, 16 units will be affordable to households earning up to 100% of area median income and 16 units will be affordable to households earning up to 80% of area median income. Homes are expected to sell for between $241,977 and $445,590. The city of Boston made the parcel available for development and is providing about $4.5 million in matching funding. Construction is expected to begin later this year, with completion anticipated in fall 2028.  

Thatcher House B1, Brockton  
Thatcher House B1 will create 15 new affordable homeownership opportunities in a three-story townhouse-style building. The sponsor is the nonprofit Planning Office for Urban Affairs, Inc. The Thatcher House homeownership development is part of a broader redevelopment of the Our Lady of Sorrows convent campus, which will see the Planning Office partner with the Poor Sisters of Jesus Crucified and the Sorrowful Mother to create a total of 160 new affordable homes on the Sisters’ convent campus across, across multiple phases. The Planning Office, the Sisters and the City of Brockton collaborated to rezone the convent campus for new housing growth under Chapter 40R, the state’s smart growth incentive statute. All new homes at Thatcher House B1 will be family-sized units that will be sold to residents earning up to 100 percent of the AMI. Homes are expected to sell for between $308,500 and $356,300. Construction is expected to begin later this year and deliver new homes in the fall of 2028. 

Statements of Support 

Representative Andy Vargas, Black and Latino Legislative Caucus Chair: 
“We’re in the middle of a housing crisis that is pushing working families out of the communities they helped build. CommonWealth Builder is one of the most important tools we have to reverse that. It produces homes families can actually afford to buy, not just rent, and it does it in neighborhoods that have been historically locked out of homeownership. I’m grateful to the Healey-Driscoll Administration for always recognizing that Gateway Cities aren’t just where the need is greatest, they’re where the opportunity is too.” 

Senator Liz Miranda: 
“These projects represent exactly the kind of investment our communities deserve, deeply affordable homeownership opportunities that allow working families to build stability and generational wealth in the neighborhoods they call home. I have been pushing for more affordable homeownership opportunities in Boston because too many longtime residents are being priced out of the communities they helped build. I’m deeply grateful to the Healey-Driscoll Administration, our city partners, and the development teams for recognizing that affordable homeownership is one of the most powerful tools we have to close the racial wealth gap and strengthen our communities.” 

Senator Lydia Edwards:  
“This investment at 27-29 Hancock Street is an exciting step forward in expanding access to affordable homeownership opportunities in Boston. By transforming a vacant property into 15 energy-efficient homes for first-time homebuyers, we are not only creating housing, but also opening doors for families to build stability, equity, and generational wealth. I’m proud to support initiatives like CommonWealth Builder that help make homeownership more attainable while strengthening our communities and investing in a more sustainable future for Massachusetts.” 

Representative Jay Livingstone: 
“Thank you Governor Healey, Secretary Matias, and MassHousing CEO Kornegay for making this award. Fenway Forward’s project will bring needed affordable homeownership opportunities to Beacon Hill where there are none now. The award today makes the project possible.” 

Representative John Moran: 
“NUBA Homes is the kind of investment our communities need — expanding affordable homeownership opportunities and helping working families build a future in Boston. The 9th Suffolk District faces some of the highest inequality in the Commonwealth, and affordable housing is critical to closing that gap. I’m grateful to MassHousing and the Healey-Driscoll Administration for selecting this Lower Roxbury project for this year’s CommonWealth Builder award.” 

Representative Samantha Montaño: 
“This project will provide much desired home ownership options in a neighborhood that is very excited to welcome their new neighbors. Additionally, one of the developers is a homegrown Bostonian woman of color, a rarity in these spaces. I’m so proud of the project and the people who will be able to purchase one of these new homes.” 

Reverend Willie Bodrick, II, Senior Pastor of Twelfth Baptist Church in Roxbury and President & CEO of The American City Coalition: 
“For generations, Roxbury families have built the cultural, civic and economic strength of Boston, and they deserve the opportunity to build their futures here, too. These awards will make a real difference by creating homes people can afford to buy, giving more Roxbury families the financial stability they need to stay rooted in the community they love.” 

Reverend Art J. Gordon, Senior Pastor of Peoples Baptist Church in Roxbury: 
“Homeownership remains one of the strongest pathways to long-term financial stability and generational wealth. Through the Commonwealth Builder Program, we are creating more affordable homeownership opportunities for first-time buyers and helping families put down roots in their communities. Expanding access to homeownership is especially important for Black families in Boston, who have faced longstanding barriers to building wealth through housing. By increasing the supply of homes within reach for working households, we are investing in stronger futures across Massachusetts.” 

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