BOSTON (CBS) — Boston Mayor Marty Walsh announced millions of dollars in funding for affordable housing in the city Friday. The money will be used to create hundreds of affordable housing units across the city.
The $65 million in affordable housing funds comes from the Department of Neighborhood Development, the Neighborhood Housing Trust and the Community Preservation Fund.
“Eleven hundred units of housing will be built,” Walsh said. “It’s the largest in the history of the city at one time.”
This number includes 936 new unites that will be built, and 161 others that will be preserved.
Walsh is also looking into the possibility of eliminating broker fees for renters in Boston. The mayor is creating a working group to study the effects that the fees have on Boston renters.
“In some cases it’s a month’s rent for the fee,” Walsh said Friday. “That seems a little excessive, particularly with the rents in Boston. So, we’re going to look at all that.”
This comes after lawmakers in New York state passed a law saying landlords are responsible for broker fees on rentals. Opponents argue this rule could lead to higher rent if landlords work the fee into the tenant’s monthly bill.