Frost Terrace Affordable Housing Awarded State Funding
On July 25, 2018, Massachusetts Governor Charlie Baker announced the recipients of this year’s affordable rental housing awards, which will provide $57 million in direct subsidies for 19 high-impact projects to fund the development, renovation and preservation of much-needed housing opportunities throughout the Commonwealth.
Among this year’s awardees is Frost Terrace (1791 Mass Ave.), a transit-oriented new construction project for families. Bruner/Cott is working on this 40-unit affordable housing project in the Porter Square neighborhood of Cambridge, MA with sponsor, Capstone Communities. All units will be affordable to households earning less than 60% of the area median income (AMI), with four units reserved for households earning less than 30% of AMI.
Additional project funding for Frost Terrace will derive from Low-Income Housing Tax Credits and subsidy funds via the Department of Housing and Community Development (DHCD) and city trust funds through the City of Cambridge.
“Across our Commonwealth, more and more young families are finding they are not able to put down roots, seniors are not able to age in their communities, and hard-working residents are spending more of their paychecks and precious time traveling further to get to their jobs,” said Housing and Community Development Undersecretary, Janelle Chan. “Today’s awards will enable communities to grow with their residents, and be a part of a state-wide and regional response to the affordable housing crisis.”
Thank you to the Baker-Polito Administration for this award and your continued commitment to creating affordable to low- and middle- income housing across the state of Massachusetts. We are thrilled to be among the 19 deserving recipients who are transforming their communities and providing vital resources for their neighborhoods.
To learn more about the affordable rental housing awards, click here.
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