CCB MEDIA PHOTO: The former Cavalier Motel in Yarmouth
YARMOUTH – The Town of Yarmouth will share in a $20 million state grant supporting affordable housing projects around Massachusetts.
The Yarmouth Green development is getting $4.5 million. It will include 69 affordable units at the site of the former Cavalier Motor Lodge on Route 28.
Developer Dakota Properties will receive federal and state Low Income Housing Tax Credits and subsidy funds.
The town will support the project with over $2 million in Community Preservation Act funds.
This news is fantastic. As everybody knows, we have a severe issued with affordable housing here on Cape Cod, and I would say especially in the mid-Cape in my district, said 1st Barnstable State Representative Tim Whelan, who represents the town.
“And here we have $4.5 million coming into the Town of Yarmouth,” he said.
Statewide, the projects represent 511 new rental units, including 348 affordable units, with 55 reserved for extremely low-income residents.
Whelan said it’s all about creating workforce housing.
“This will help sustain our business community, and this will help get the employees there that our business community is screaming for,” he said.
Since 2015 the Baker-Polito Administration has provided direct funding to create and preserve over 5,700 units of affordable housing across Massachusetts.
“Providing safe, affordable and quality housing to residents and families is a priority for our administration, and today’s announcement builds on our goal of creating 135,000 new housing units by 2025,” said Governor Charlie Baker.
“A second round of affordable rental housing awards this year helps ensure a strong pipeline of new, mixed-income construction across the Commonwealth.”
The administration is awarding more than $20 million in housing subsidy funds, and more than $15 million in State and Federal LIHTC, which will generate approximately $77 million in equity to support these projects. Each awarded project leverages substantial local funding commitments, including Community Preservation Act funds and municipal contributions.
“Today’s announcement supports six mixed-income housing opportunities from across the Commonwealth that have received significant community support,” said Lt. Governor Karyn Polito.
“We look forward to working with our partners in the legislature and local leaders to help ensure our diverse population has access to the housing they need.”
The Cavalier Motel has been vacant for over six years. It occupies more than 4 acres in a centralized location along Route 28.
Dakota’s proposal to develop 69 affordable units will represent a major milestone for both the town’s revitalization objectives and efforts to create quality affordable housing.
The units will be a mix of 1, 2 and 3-bedroom and will serve low income households.
“We are happy to have the state support the Town’s complimentary goals for affordable housing and economic development. The vision of the Boards and Committees to create zoning that provides economically viable opportunities for property owners and developers coupled with town and state subsidy will result in much needed affordable housing for the Town and region.” said Karen M. Greene, Director of Community Development.
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