|FOR IMMEDIATE RELEASE:
October 21, 2004
Phil Hailer (DHCD)
ROMNEY AWARDS $1.4M TO PROMOTE NEW HOUSING ON CAPE COD
Marstons Mills project to offer 30 new home ownership opportunities
MARSTONS MILLS – Renewing his commitment to increase the supply of housing across the Commonwealth, Governor Mitt Romney today pledged $1,387,000 to build 30 new homes for Cape Cod families.
“The Village at Marstons Mills represents a down payment on a more affordable future for Barnstable County,” Romney said. “High-quality, affordable housing is just as important as top-notch schools, good jobs, a first-class infrastructure and safe neighborhoods. My Administration is working overtime to create additional housing opportunities for families across a broad range of incomes.”
Romney said the Williams Building Company of Yarmouthport will build the 30 new homes using $837,000 from the state’s Affordable Housing Trust Fund and $550,000 from the federally funded HOME program.
The Village at Marstons Mills will feature a total of 30 new homes. Eighteen of the homes will be available to households earning 80 percent or less of the area median income, five will be set aside for families earning 120 percent or less of the area median income and the remaining seven homes will be sold at market rate.
“I am thrilled that the Romney Administration has heard our call for assistance here on Cape Cod,” said State Representative Jeffrey Perry. “This is a good step forward in providing housing opportunities to the residents of Cape Cod. Thank you Governor Romney for your commitment to our affordable housing situation here in Barnstable County.”
Since the inception of the Affordable Housing Trust Fund in 2001, nearly $70 million has been awarded to create or preserve over 4,735 housing units, 3,873 of which are affordable to low- and moderate-income families. Another $10 million in trust funds has been awarded to modernize a number of state-owned public housing developments across Massachusetts.
The state’s HOME program provides financial assistance to organizations creating homeownership opportunities for moderate-and low-income families. The funds are used for the acquisition and rehabilitation of existing vacant properties or the construction of new units, which are then sold to income-eligible buyers at below-market prices.
“The Romney Administration is committed to doubling housing starts across the Commonwealth,” said Director of Housing and Community Development Jane Wallis Gumble. “By teaming up with other state agencies like MassHousing, and by utilizing the principles of smart growth development, we can accomplish that goal.”
Construction of the new homes is scheduled to begin this fall with a completion date of summer 2005.