Out of the 100 largest cities in the nation, Boston has the highest rate of income inequality. At the same time, skyrocketing housing costs are making it difficult for families to stay in their neighborhoods, negatively impacting Boston residents’ quality of life. The Community Preservation Act (CPA) will help to confront Boston’s housing challenges and keep families in the neighborhoods that they have long called home. CPA generates funds that are dedicated to the creation of new, affordable, low-to-middle income housing for seniors, families, veterans and others — keeping neighborhood residents in Boston, while maintaining a housing stock that remains affordable for working class families.
CPA will help to support affordable housing initiatives throughout the City today and for future generations. Mayor Walsh’s plan, Housing a Changing City: Boston 2030, will help tenants attain new affordable rental units and assist working families with buying their first homes, directly benefitting from funds generated through CPA. New affordable housing construction projects in Boston will expand not just housing opportunities, but also, jobs to grow and support the city’s workforce.
Since 2000 CPA has helped to create nearly 9,400 affordable homes throughout Massachusetts. The City of Boston cannot continue to miss out on this opportunity to keep housing accessible and affordable. CPA presents a unique opportunity to raise funds to directly benefit community housing, and to help Boston make strides to ensure that families are not priced out of their neighborhoods.