Menino: Boston's Housing Efforts Are
Producing Strong Results OFFICE OF THE MAYOR THOMAS M. MENINO August 1999 Dear Neighbor, As I write this, Boston is enjoying good times. The number of jobs in Boston has climbed to a record high of 665,000. The crime rate has fallen to the lowest level since 1967. Our neighborhoods are showing new signs of stability and strength. In short, Boston is a very popular place to live. This popularity, however, places pressure on our housing market. Rents and home prices have increased in every neighborhood, as demand for housing outstrips the supply. In my State of the City Address last January, I declared housing one of my top priorities. I have increased the City's budget for affordable housing development, up from $15 million last year to $25 million this year. This will increase the number of affordable homes that we help make available. We have streamlined the permitting process for home builders and targeted City owned lots for new housing opportunities. The work is paying off: last year, there were roughly 800 new homes created in Boston; we expect to create more than 2,000 new homes this year - a tremendous increase. We have reduced the number of abandoned houses in our neighborhoods by more than half, from roughly 800 two years ago to less than 400 today. Please report abandoned houses to 635-0430. Every renovated house improves an entire block and provides a much needed home to another grateful family. We have encouraged universities to house more of their students to keep them from competing for scarce apartments. Boston University has 819 beds in construction. Northeastern University has 650 beds in construction, with an additional 1,000 planned. Harvard Business School has 544 beds planned. We adopted another new policy to create more housing that working people can afford. Each market rate residential development project reviewed by the Boston Redevelopment Authority must provide affordable housing. At least 10% of the housing units must be offered to people with modest incomes. And we're working harder to keep the affordable homes we have. We successfully negotiated with property owners to keep the rents at 576 affordable apartments from being converted to market rates. Boston's housing efforts are producing strong results, but more needs to be done. Many surrounding suburbs offer few choices of affordable housing. Boston, on the other hand, is a place that people from all walks of life can call home. If you are interested in learning about buying a home of your own, please call the HOME Center for free classes and financial assistance to qualified buyers (phone: 635-HOME). Thomas M. Menino Mayor of Boston CITY HALL - ONE CITY HALL PLAZA • BOSTON • MASSACHUSETTS 02201 More charts courtesy of EBOL New Housing
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