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10-15-2004

Page history last edited by PBworks 13 years, 5 months ago

October 15, 2004

HEALEY AWARDS $1 MILLION FOR SENIOR HOUSING IN IPSWICH

Former Whipple School annex to be transformed into low-income elderly homes

 

IPSWICH – Fulfilling a pledge to boost the Bay State’s supply of housing, Lieutenant Governor Kerry Healey today awarded a North Shore non-profit developer $1 million to transform the former Whipple School Annex in Ipswich into 10 one-bedroom apartments for low-income senior citizens.

 

“Governor Romney and I are committed to addressing the needs and desires of our elder citizens. Too often, these pillars of the community are forced to leave because their housing costs are too high,” said Healey. “Not only does this project create more affordable housing opportunities for the elderly, it also sets a good example for smart growth development in the Commonwealth.”

 

Healey said the North Shore Housing Trust will receive $500,000 from the state’s Housing Stabilization Fund (HSF) and $500,000 from the state’s Affordable Housing Trust Fund (AHTF) for the project. The annex, which was formerly used as a storage facility for Ipswich’s middle school, is located within walking distance from the center of town and the senior center.

 

When the project is complete, four apartments will be set aside for residents earning 30 percent or below the area median income, two units will be for residents at or below 50 percent of the area median income and four apartments will be for those at or below 80 percent of the area median income.

 

“The Commonwealth, through the awarding of this grant, continues its strong commitment to increasing affordable housing opportunities,” said State Senator Bruce Tarr. “The Whipple School project is a prime example of smart planning; increasing housing opportunities for seniors helps to maintain an important part of the community, and the revitalization and reuse of existing community buildings represents innovative planning.”

 

“These funds will go a long way in ensuring that our seniors can afford to stay in the Town of Ipswich. The Romney Administration’s continued willingness to support affordable housing in Massachusetts shows that this is a priority,” said Representative Bradford Hill.

 

“This investment in affordable housing for low-income seniors by the Romney Administration is huge,” said North Shore Housing Trust President Marc Potvin. “With the funding commitment, we are ready to take Whipple Annex project to completion as much needed housing for Ipswich residents.”

 

The Housing Stabilization Fund is administered by the state Department of Housing and Community Development and was created by the Legislature in 1993 to support comprehensive neighborhood redevelopment efforts, and to help developers and municipalities acquire, preserve and rehabilitate affordable housing.

 

HSF awards are targeted to the reuse of foreclosed or distressed properties to create affordable housing opportunities. AHTF awards are targeted for projects that create or preserve housing throughout the state for households that do not exceed 110 percent of the area median income as defined by the US Department of Housing and Urban Development. DHCD oversees the trust program, and funds are administered by the quasi-public agency, MassHousing.

 

 

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