With the goals of accommodating growth, expanding the city's middle class and supply of affordable housing, and moving college students out of private housing, outgoing Mayor Thomas Menino has unveiled a $16.5 billion housing strategy for Boston.
"Months after first announcing a goal of creating 30,000 new housing units by the end of the decade, Mayor Thomas Menino detailed his Housing Boston 2020 initiative on Monday."
Crafted with the help of an advisory panel and three working groups, [t]he blueprint relies on a mix of public and private investment sources, such as selling vacant public property for housing," writes Benjamin Swasey. "The plan also seeks a 2014 ballot referendum on the Community Preservation Act, which would allow the city to add a 1 percent surcharge on real estate tax bills. That money would then fund affordable housing in Boston."
"With its report, the city is also looking to reduce private building costs. Steps include smaller unit size standards and relaxing requirements on parking availability," adds Swasey.
FULL STORY: Menino Outlines $16.5B Boston Housing Plan
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