Despite a building boom in Boston, the city is facing an affordable housing crisis. According to the City of Boston website, about 65 percent are renters, and more than half put upwards of 30 percent of their income toward rent.
Local experts on GBH's Basic Black said gentrification is having a devastating impact on the local housing market, leading many people of color to head out of the city and settle in more affordable locations.
John B. Cruz III, president and CEO of Cruz Companies in Roxbury, said housing prices have risen dramatically in recent years, while supply has gone down.
"It's causing gentrification in Boston like I never thought I'd see. ... It is devastating the effect of what it's done to the affordable market for anyone who wants to either buy or rent," Cruz said.
For the small amount of affordable housing options that exist, competition is fierce. Emilio Dorcely, CEO of Urban Edge in Roxbury, said one project he worked on received about 3,000 applications for just 62 available units.
"At the rate that we're going, we're not going to really meet the housing needs of both people who are already here, but also the projected new residents that would be moving to Boston for the next several years," said Dorcely.
Malia Lazu, CEO and founder of The Lazu Group, noted the feeling of competition in her own neighborhood of Roxbury.
"It's just a weird thing to see you being gentrified by college students. It's a really weird feeling when you're a grown adult working really hard," Lazu said.
In January, Mayor Michelle Wu announced $40 million in new funding to create and preserve over 700 income-restricted units of housing in Jamaica Plain, Dorchester, Chinatown, Hyde Park and Roxbury. Plus, last month, Wu formed the Rent Stabilization Advisory Committee, on which Dorcely serves. The committee has been tasked with evaluating how rent control would work in Boston.
Chrystal Kornegay, executive director of MassHousing in Boston, said the government should also work with building owners and investors to resolve conflicts when tenants get behind on rent.
She explained that when renters get behind on payments, tension brews between them and their landlord — but that tension truly comes from whoever has the mortgage. She said the government can work with investors on how to take the hit or extend the mortgage.
Lazu also said improving the housing crisis means repairing the "horrible exclusion" that people of color have had from homebuying for centuries. Currently, about 30% of Black residents and 17% of Latino residents in Boston own their home, compared to 44% of white Bostonians.
Watch Basic Black: Affordable Housing
Watch the latest episode of Basic Black Friday at 7:30 p.m. on GBH 2 or live on the GBH website. You can also watch on the GBH News YouTube channel. Subscribe to get notifications for future premiere episodes.
