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State Momentum Fund backs 92-unit mixed-income building in East Milton
Summary
Developers and state officials marked the groundbreaking for a 92-unit mixed-income project in East Milton financed in part by Massachusetts’ new Momentum Fund, created under the Affordable Homes Act.
Developers and state officials on hand at a ceremonial groundbreaking said a future building in East Milton will provide 92 mixed-income residential units, with construction expected to be completed in 2027. The project is the first to receive financing from Massachusetts’ new Momentum Fund, a revolving state fund created by the Affordable Homes Act, officials said.
The Momentum Fund, created through legislation signed by Governor Healey, is designed to provide direct equity investments into mixed-income housing and to recycle returns into future projects. "This is a first-in-the-nation fund designed to support mixed-income housing production," Lieutenant Governor Kim Driscoll said, thanking developers and public partners for advancing the project.
The project — identified at the ceremony as the…
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