Proposes creation of $250 million fund
October 10, 2019
BOSTON – District 8 City Council candidate Jennifer Nassour has joined Boston Mayor Marty Walsh in his call to the Chamber of Commerce for assistance in the creation of more middle class housing in the city.
Noting that major employers in other cities have dedicated funds used by developers to build affordable housing in their communities, Nassour said that companies like Google and Microsoft have set an example that Boston can use to help the city’s middle class. “The Mayor deserves credit for asking the business community to step up. Examples already exist as to how this might work.”
But Nassour went one step further than the mayor and proposed that the Chamber of Commerce work with the city and create a $250 million development fund that would provide no-interest loans to developers who agree to meet the city’s requirements for building middle class housing in the city. “Boston may not have a Google or Microsoft-sized business, but we do have hundreds of strong and vibrant companies who, if they pool their resources, could make a huge impact in our community.”
Nassour also proposed that the city’s hospitals and universities be asked to participate in the fund. “We have so many hospitals and universities who can and should participate in this fund. If the private and non-profit communities come together, we can do some exciting things creating middle class housing in Boston,” she said.