April 2, 2025 - 22:08
BOSTON– The Community Economic Development Assistance Corporation (CEDAC) has unveiled a new funding initiative aimed at bolstering affordable housing in Boston. This initiative will support three nonprofit housing organizations through the inaugural round of the Small Property State Acquisition Fund (SPAF).
The funding is designed to empower nonprofits to acquire and maintain small residential properties, ensuring that they remain affordable for low- and moderate-income families. With the rising cost of living and housing in Boston, this initiative is a critical step towards preserving the city’s diverse communities.
CEDAC’s commitment to affordable housing aligns with the growing need for sustainable solutions in urban areas. The selected organizations will utilize the funds to enhance their capacity to manage properties effectively, thereby contributing to the long-term stability of affordable housing options in the city. This funding represents a significant investment in the future of Boston's neighborhoods and the well-being of its residents.
