Hopkinton Housing Authority Receives $800K for Housing Development
The Patrick Administration today awarded $800,000 to the Hopkinton Housing Authority to construct 12 new family apartments at Mayhew Court. $700,000 of those funds will come from the Department of Housing and Community Development’s State Public Housing Mixed Financing Program.
“With families throughout the MetroWest facing mounting economic pressure, it is wonderful to see a commitment from both the town and the Commonwealth towards providing housing opportunities for Hopkinton residents. This is an excellent example of a true partnership between the state and the town. I’m thrilled on behalf of my constituents that we are able to move this forward,” said Senatpr Karen Spilka.
“This award will help leverage project funding from other sources, increase new affordable housing opportunities for families in Hopkinton and continue the Administration’s ongoing commitment to preserve and revitalize public housing,” said Housing and Community Development Undersecretary Tina Brooks. “We are delighted to work in partnership with the town because projects like these create jobs and help ensure economic vitality in communities for residents on all income levels.”
DHCD’s commitment to the Mayhew Court development is contingent upon the town leveraging at least $400,000 in local Community Preservation Act funds and the housing authority securing other construction and permanent financing. Under the state’s Mixed Financing Program local housing authorities can to use a variety of tools to leverage funds and redevelop existing public housing or build new housing on land controlled by the authority.
“These affordably priced units will make it possible for residents to stay in the community who might otherwise not be able to. It’s exciting that the town is able to take this important step forward in making it a reality,” said Rep. Carolyn C. Dykema. “This is a great example of how towns and the state can partner to maximize affordable housing opportunities.”