120 New Affordable Rental Units in Development
Since its inception in 1974, Housing Assistance has developed over 550 units of affordable housing on Cape Cod and the Islands. In the next few years, that number will increase significantly as our agency works to construct three separate developments in Brewster, Mashpee, and Bourne that will add another 120 units to the Cape’s affordable housing inventory.
Our region has an extreme shortage of year-round rental inventory, estimated at less than 1% vacancy rate when most experts consider 7% vacancy to be healthy. If a person has limited income, they have an even more difficult time finding a place to rent.
Each of the three developments are being built in partnership with the Preservation of Affordable Housing (POAH), a national nonprofit developer with expertise financing and managing affordable housing projects across the country. “POAH has a lot of experience doing complicated housing projects that rely on tax credits and other funding sources,” David Quinn, Director of Housing Development and Planning, said. “We’re able to help them shape their housing to fit well here on the Cape.”
To read more about the three developments, click here.