Healey announces $140M investment in over 1,300 Massachusetts homes

Grace Zokovitch, Boston Herald on Feb 18, 2026

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The state will invest over $140 million in the creation of more than a thousand homes across the state, the Healey administration announced Wednesday — funding another round of affordable residences and transforming vacant commercial buildings through two state programs.

“Too many downtown buildings across Massachusetts are sitting dark and empty when they could be part of the solution to our housing shortage,” said Gov. Maura Healey. “The Affordable Homes Act gave us new tools to move faster and smarter, and this first round of Commercial Conversion tax credits will help turn underused commercial properties into homes, bring new energy to our downtowns and lower housing costs for residents.”

The funding announcement marks the first round of Commercial Conversion Tax Credit Initiative awards since the program was created under the $5.2 billion housing bond bill Healey signed in 2024. The initiative will distribute $8.4 million to five projects creating 339 homes across Boston, Fitchburg, New Bedford, Pittsfield and Worcester.

The projects are distributed among “downtowns and neighborhood centers where commercial buildings are underutilized and where new housing can help bring foot traffic, customers and energy back to local business districts,” the administration stated.

The Boston project will deliver 18 units on Milk Street in the Financial District, while the largest project in Worcester will create 198 homes in a historic office building downtown.

Lt. Gov. Kim Driscoll called the awards part of “a downtown comeback,” noting that creating housing in these central areas “support local businesses, strengthen neighborhoods and help more people live closer to jobs, transit and everyday amenities.”

Another $139.5 million will go out through the Affordable Housing Development grant program, delivering low-income housing tax credits and subsidies to 15 rental housing developments across the state.

The developments represent 903 affordable homes and 284 home for “extremely low-income households, including individuals and families transitioning from homelessness,” the administration stated.

“These 15 developments will help move 1,008 homes forward statewide, delivering the homes seniors, families and workers need to stay in the communities they call home,” said Executive Office of Housing and Livable Communities Secretary Ed Augustus.

The projects spread across Beverly, Easthampton, Framingham, Greenfield, Lawrence, Lenox, Lowell, New Bedford, Newton, Pittsfield and Westford, along with four Boston developments delivering 271 homes.

Pittsfield Mayor Peter Marchetti said Wednesday the announcement supports the “city’s long-term vision for housing as we continue to provide options that serve every need.”

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