NORTHAMPTON — A planned affordable housing development in the city is one of 27 projects across the state to receive a combined $246 million in subsidies and tax credits from the Healey-Driscoll administration.
The money comes in the form of direct state subsidies, federal dollars from the American Rescue Plan Act, and state and federal tax credits. The 20-unit Northampton project, at 23 Laurel St., received $5.7 million in deferred debt and $525,000 in low-income tax credits, money that allows the project to be fully funded, according to Alexis Breiteneicher, the executive director of Valley Community Development, which sponsors the project.
“Valley Community Development was thrilled to have 23 Laurel Street included as one of the funded affordable housing developments announced by Governor Healey [last] month,” said Breiteneicher in a statement to the Gazette. “Building more homes, particularly ones that are affordable, is an obvious solution to the crisis our region faces.”