Fenway Community Development Corporation’s Post

Hats off to CEDAC for filing an Amicus brief defending a nonprofit owner's Right of First Refusal in situations where the LIHTC investor is trying to take over at the exit point. This article is in the weeds but very important.

Here is another example of what is wrong with our housing market. Out of state investors and REITs are gobbling up multi family developments because the relative lack of new supply in the Greater Boston market has created more opportunities to raise rents and drawn more investor demand. Tenants will suffer.

Here is the follow up to the piece about the rent areas crisis threatening DC affordable housing - the Council has passed an emergency fix, but more will be needed.

Here is a clear and concise analysis of the Affordable Housing Bond Bill. It outlines who this is a tremendous step forward, but more is needed to address our affordable housing crisis. As always, the devil is in the details.

Here is a interesting piece on tenant organizing and rent strikes as a means of getting Fannie Mae & Freddy Mac to build in tenant protections in buildings where they hold mortgages.

Here is an update from Bisnow on the DC rent arrears crisis that is threatening to shut down DC affordable housing

Dear friends, Please share/repost this exciting and delicious event with your business associates, friends, and family members! Taste of The Fenway 📅 Date: Wednesday, September 25, 2024 (Savor This Date) ⏰ Time: 5:00 PM - 7:00 PM 📍 Location: Entrance is near 100 Van Ness Street, Boston, MA 02215 🎟️ Event tickets: $50 (all-you-can-eat food, beer, wine, and drink tastings from 27 restaurants. Participation opportunities for individuals or corporations: $1000 Silver Sponsor to $100,000 Community Builder (email itan@fenwaycdc.org for details) Join us for an evening where culinary mastery meets cultural celebration— Taste of The Fenway is more than just a vibrant food festival; it's an experience that transports you around the world in 2 hours, one delicious bite at a time. Reserve your tickets now and bring your appetite for adventure! 💡Double Your Impact! Calling all Business Leaders, Professionals, and Philanthropists!!! Want to make an even bigger difference? Invest in the community by donating $1,000 to $100,000 or more. Get a 50% gift refund through Fenway CDC’s Massachusetts Community Investment Tax Credits (CITC). That’s right—your generosity will be doubled while helping to improve lives. Each year, Fenway CDC improves the lives of over 2,500 residents through affordable housing, resident services, workforce development, and civic engagement programs and services. Our positive impact improves lives from Fenway to beyond Greater Boston.   #fenwaycdc #tasteofthefenway #thefenway #allyoucaneat 

This is a long and sobering piece on the problems of affordable housing in DC. You have to read the whole piece to see a possible solution in the last two paragraphs.