August 2023

Agency News

FY2023 lending summary

Despite a challenging market for both homeownership and rental housing, MassHousing provided nearly $1.4 billion in financing during the 2023 fiscal year, which ran from July 1, 2022 to June 30, 2023.  

On the Homeownership side, the Agency helped 2,197 Massachusetts residents buy their first home by providing $697.2 million in first mortgage loans and an additional $26.9 million in down payment assistance. The lending totals do not include 1,140 grants for $37.4 million made through the Mass DREAMS (Delivering Real Equity and Mortgage Stability) program. An additional 157 homeowners used $4.6 million in MassHousing financing to remove hazardous lead paint, repair or replace a failing septic system or make other improvements to their properties.  

MassHousing’s Multifamily business line closed 31 transactions for $658.2 million, which supported the creation and preservation of 3,461 rental housing units, 3,331 of which are affordable.


New list of top-performing lender partners and loan officers is now available

Affordable MassHousing home mortgage loans and down payment assistance are originated through a network of banks, mortgage companies and credit unions who partner with us. We recently updated the list of top lenders and loan officers who have helped the most home buyers over the last 12 months. Check it out here.  

CHAPA honors the MassDREAMS program

MassHousing staff were honored by CHAPA, along with staff from the Mass. Housing Partnership, who also had a version of the MassDREAMS program.

We were thrilled to be recognized by CHAPA (Citizens Housing and Planning Association) at their annual dinner on June 29, for our success with the MassDREAMS grant program for first-time homebuyers.

MassDREAMS (Delivering Real Equity and Mortgage Stability) was a grant program for eligible first-time homebuyers. Last Fall, within the span of just 79 days, MassHousing awarded $37.4 million in DREAMS grants, which were paired with MassHousing mortgage loans, to 1,140 first time home buyers. Of these, 621 grants went to BIPOC households – representing 54% of all the borrowers who were assisted. 75% of the awards went to households with incomes below 100% of the area median income (AMI) and 42% were to borrowers at 80% or less of AMI. The average grant was just under $33,000.

MassDREAMS was made possible by an appropriation of federal funds by the Massachusetts legislature.

New video helps homebuyers understand, access MassHousing financing

MassHousing has produced a new 1-minute video to help first-time homebuyers better understand the Agency, how to access our programs, and how we can help them achieve their dream of homeownership. Watch it now

Relationship managers connect with Homeownership partners

MassHousing’s Homeownership Relationship Management team is regularly on the road and in the community at a variety of events hosted by our municipal and nonprofit partners Pictured standing above are MassHousing's Angelo Nuby and Goretti Joaquim with staff from Pro-Home, Inc. at the organization’s annual meeting in Taunton.  

Below, Goretti (fifth from the left) was on hand for a meeting of The Fall River New Bedford Housing Partnership, which was attended by several lenders and nonprofits including city officials and covered affordable programs and products to serve the South Coast Area. 

Angelo (center) represented MassHousing at the City of Boston's Housing Resource Fair in May at UMass Boston. More than 100 attendees were able to meet in person with lenders, Realtors and nonprofit partner agencies at the event. City of Boston staff provide housing resources for consumers to gather information about programs and resources to help them become and remain successful homeowners. 

New “Home at Last in Mass” podcast helps first-time buyers understand mortgage insurance

MassHousing's Lisa Fiandaca is the special guest on our latest podcast episode, which explains why mortgage insurance is a benefit for first-time buyers, especially when they finance with a MassHousing loan that has MIPlus™ with mortgage payment protection.

Listen here or on Spotify, Google or Apple podcasts 

Rental Housing

3 questions with Kelly Condon, Director of Rental Management

Kelly Condon, who was named MassHousing's Director of Rental Management earlier this year, discussed the Division's goals to improve processes and efficiencies, and the issues and initiatives that are most pressing for the Agency and the 1,000 multifamily communities it oversees. Read more

Funding available for owners of certain HUD-financed apartments to make buildings more energy efficient

The Green and Resilient Retrofit Program (GRRP) is newly funded through the federal Inflation Reduction Act of 2022. According to HUD, “the program seeks to amplify recent technological advancements in utility efficiency, carbon reduction strategies, and energy generation, and brings a new focus on preparing for climate hazards by reducing residents’ and properties’ exposure to hazards.” 

GRRP is “the first HUD program to simultaneously invest in utility efficiency, carbon reduction, renewable energy generation, and climate resilience strategies in multifamily housing.” 

Eligible applicants are owners of properties participating in HUD Multifamily Section 8 Project-Based Rental Assistance, Section 202 Supportive Housing for Low-Income Elderly, and Section 811 Supportive Housing for Low-Income Persons with Disabilities.  

For more information visit or view this brochure from HUD.

Recent Rental Closings

In recent weeks, MassHousing announced the closing for affordable rental housing financing for four developments across Massachusetts.

Littleton Drive, Wareham: Pennrose, LLC will use $16.3 million from MassHousing to develop the 49-unit Littleton Drive Family and the 44-unit Littleton Drive Senior on town-owned land under Chapter 40B. Read more 

Rosewood Way Townhomes, Agawam: MassHousing is providing $5.2 million to help Way Finders develop a new 62-unit development on a formerly vacant parcel for renters with a variety of incomes. Read more 

Jaycee Place, Lowell: Silver Street Development will perform extensive renovations at this 138-unit development with $13.9 million in MassHousing financing. The scope includes creation of seven new, fully ADA-compliant units. Read more

Van der Heyden Apartments, Springfield: MassHousing has closed $13.3 million to support renovations and extend affordability at this 45-unit property, which was built in 1914 in Springfield's Mason Square. Read more 

Bixby Brockton Apartments, Brockton: Affordable Housing and Services Collaborative, Inc. will use $12.9 million in MassHousing financing to extend affordability and perform a number of improvements at this 104-unit development in the city's downtown. Read more

Groundbreakings, ribbon-cuttings and other events

Thanks and congratulations to all of our multifamily partners for these recent milestones!

Springfield Housing Tour: Housing and Livable Communities Secretary Ed Augustus, elected officials and multifamily partners joined MassHousing for a tour of rental projects financed by the Agency in Springfield. Pictured above from left are Kristen Elechko and LaMar Cook from the Governor's Western Massachusetts office; state Representatives Angelo Puppolo and Bud Williams; Secretary Augustus; Springfield Mayor Domenic Sarno; MassHousing Executive Director Chrystal Kornegay; and state Representative Carlos González. Read/watch a story on the visit from WWLP.

Mildred C. Hailey Apartments, Boston (Jackson Square): MassHousing provided $99.1 million in financing for the first phase of this five-phase redevelopment project, which is being led by a collaboration of The Community Builders, Jamaica Plain Neighborhood Development Corp., Urban Edge and the Boston Housing Authority. Read more 

Clarendon Hill, Somerville: A collaboration between Preservation of Affordable Housing (POAH), Somerville Community Corporation and the Somerville Housing Authority has started the first phase of a multi-phase redevelopment project along Powder House Boulevard. MassHousing provided a total of $4 million for Phase 1. Read more 

Kuehn's Way/ Martha's Vineyard Visit: MassHousing's Mark Attia (left) joined Governor Maura Healy, state Representative Dylan Fernandes and other state and local officials on Martha's Vineyard to discuss different challenges facing the island. The visit included a tour of Kuehn's Way, a 20-unit affordable housing community that received $3.8 million in MassHousing financing, and is the largest new affordable rental community built on the Vineyard in 15 years. Read more about the visit

Daniel F. Burns Apartments, Cambridge: In June, the Cambridge Housing Authority celebrated the completion of work at this 198-unit development, where $44.9 million in MassHousing financing helped support renovations and extend affordability. 

Moran Square, Fitchburg: This extensive redevelopment project included converting a former Fire Station into two apartments, redeveloping a three-story commercial building into 14 apartments, and constructing a new, five-story building with 28 apartments between the two buildings. MassHousing provided Rees-Larkin Development with $5.3 million in financing.

Orient Heights, Boston (East Boston): A ribbon-cutting for Overlook Terrace at Orient Heights marked the end of a three-phase redevelopment of 331 deeply affordable public housing units. Built in 1951, Orient Heights was one of the most distressed properties in the Boston Housing Authority’s portfolio. The overall three-phase development by the BHA, Trinity Financial and the East Boston CDC replaced the distressed units and added open and park space and new community space. Through the three phases MassHousing provided a total of $93.2 million in financing. 

Emprsesa Enterprise Center, Brockton: This transit-oriented development located near Brockton's commuter rail and bus terminal was developed by Trinity Financial. MassHousing provided approximately $19 million in financing for 111-unit Phase 2 and $1.75 million through the Affordable Housing Trust Fund for Phase 1 of the project, which redeveloped the former Brockton Enterprise site into the 113-unit Residences at Centre and Main.

Housing Stability

NERSC honors MassHousing

The New England Resident Service Coordinators, Inc. (NERSC) recognized MassHousing for their support and commitment at the organization’s annual conference in May. MassHousing's Director of Housing Stability Libby Hayes is pictured second from the right above alongside other New England HFA staff accepting an award on behalf of the Housing Stability team. During the event, retired MassHousing staff member Sylvette Betancourt was also honored for her role in the founding of NERSC and for her years of service to the industry.

Join TAP for 2023-2024

Rental housing communities across Massachusetts can access a variety of programs and benefits to support residents and staff by joining TAP, MassHousing’s Tenant Assistance Program.  

Previously exclusive to communities financed or overseen by MassHousing, TAP membership is now available to all affordable housing developments in the Commonwealth. TAP member sites get unlimited access to trainings; a choice of diverse programs and workshops for residents; dispute resolution services to help address on-site conflict; and piloting this year, hoarding consultation and flex funds. 

Learn more about TAP membership and sign up today at

Equitable Business Development

Tony Richards among '40 under 40' honorees

Congratulations to MassHousing Vice President of Equitable Business Development Tony Richards, who was named to the Boston Business Journal's 2023 40 Under 40. Read more

Supplier Diversity Office recognizes MassHousing

The Massachusetts Supplier Diversity Office (SDO) recently recognized MassHousing for its outstanding participation in the Commonwealth's Supplier Diversity Program, which "encourages the award of state contracts in a way that strengthens and increases business opportunities" for diverse businesses. Pictured from left are MassHousing's Tony Richards and Andrea Laing with SDO Executive Director William McAvoy.

Equitable Business Development team visits Worcester

MassHousing's Equitable Business Development team was in Worcester recently, connecting with partners and seeing the impact of the Agency's work first-hand. Pictured above are members of the Equitable Business Development Division with Worcester City Manager Eric Batista (third from right).

During the visit, EBD toured several multi-unit affordable rental and homeownership projects funded by MassHousing through the Neighborhood Stabilization and Gateway Housing Rehabilitation Programs, which address disinvestment and blighted conditions in Massachusetts communities. The programs provide capital grant funds for the redevelopment, reconstruction, renovation, or repair of substandard and blighted properties, helping stabilize neighborhoods across the Commonwealth. 

Healey-Driscoll Administration and MassHousing announce NSP grants

On June 29, the Healey-Driscoll Administration and MassHousing announced 11 Neighborhood Stabilization Program grants for a total of $8.1 million to fund the redevelopment or rehabilitation of 56 affordable homes, including 24 new affordable homeownership opportunities. Read more

NSP-supported project kicks off in Springfield

One of the projects to receive an NSP award is now underway in Springfield. Hope CDC and developer Naylor Nation are using NSP funds to redevelop a vacant urban lot located in the city's North End neighborhood into a two-family home for a moderate-income first-time homebuyer, who will in turn rent the second unit to a low- or moderate-income tenant. 

Sober housing opens in Quincy

MassHousing was on hand to celebrate the opening of the Lower Winter Street Apartments in Quincy, a new development from NeighborWorks Housing Solutions that provides 18 single-room occupancy (SRO) units of permanent supportive housing for individuals who have experienced homelessness. The project received a $75,000 grant through MassHousing’s Center for Community Recovery Innovations (CCRI). 

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