2019 MassHousing Annual Report - Page 15




Bedford Village makes it possible for families like mine and others to get the
benefit of a great town like Bedford. We have been residents for the past five
years and we can give testimony to the great results that the renovations
brought to our homes and entire community.”
— Alejandro Diez, Bedford Village resident
A resident’s perspective
Bedford Village: State and town
collaboration preserves at-risk
affordable rental housing
Alejandro Diez and his family (pictured above) would
not be able to afford to live in Bedford were it not for
the lower rents at Bedford Village.
In 2019, a ribbon was cut to celebrate the newly
renovated Bedford Village Apartments in the town
of Bedford, 20 miles northwest of Boston. It was the
culmination of several years of work and a shared spirit
of cooperation between many parties, and included
$22.4 million in MassHousing financing.
The 96-unit Bedford Village was built in the 1970s
through the 13A state subsidy program, which kept
rents affordable for some very low-income residents.
However, the affordability requirements were set to
expire in 2018. The owner was ready to sell, and a
new owner would have been entitled to convert all
the apartments to market rents, which could have
The MassHousing financing allowed POAH to purchase
and update the property, and to buy a smaller Bedford
property known as 447 Concord Road Apartments.
Additional funding came from federal Low-Income Housing
Tax Credits, the Department of Housing and Community
Development and the Massachusetts Housing Partnership.
Property improvements included roof and window
replacement, new hot water heaters, fire protection
upgrades and drainage improvements. Affordability
restrictions were extended for all of Bedford Village’s
96 units, and the 43 13A households will remain at
the community.
displaced long-time residents of limited means.
The Town of Bedford signaled its support of the Bedford
Village preservation effort by committing $3 million in
local Community Preservation funds. POAH (Preservation
of Affordable Housing), a national nonprofit developer
and property owner, expressed interest in buying Bedford
Village, and the seller was enthusiastic about selling to a
new owner who was committed to affordable housing.
13

Paperturn



Powered by


Full screen Click to read
Paperturn flipbook viewer
Search
Overview
Download as PDF
Print
Shopping cart
Full screen
Exit full screen