If you're earning $98,150 annually or a family of four with a collective income of $140,200 per year, then you would meet Boston Mayor Michelle Wu's income requirements to qualify for streamlined affordable housing in Boston.
To accelerate the process of building more affordable housing within those income limits, Wu signed an executive order Thursday designed to speed up the city’s evaluation and approval of affordable housing proposals. Her administration’s push comes amid a housing shortage and rising rents, leading many to be priced out of the Boston area.
Announced during the mayor’s address to the Greater Boston Chamber of Commerce last week, the measure directs nine agencies to adopt new policies that fast-track affordable housing proposals in the development review process.
“Boston is a city that has set housing goals before and, with strong leadership, we have not only met but exceeded those goals. But it’s not enough just to say we’re hitting a certain number,” Wu said.
“Our approach,” the mayor said, “is to be much more specific about what types of units those have to be.”
Per the executive order, housing developments would be considered “affordable” if at least 60% of units can only be occupied by those who make less than Greater Boston's Area’s Median Income, an annual federal calculation of the midpoint of a region's income distribution. In the housing industry, AMI is used as a proxy for what home seekers can afford.
This year, the AMI for a couple in the Boston area is $112,200.
The order also directs the Boston Planning and Development Agency to deliver a report on “potential Boston Zoning Code changes” to further minimize review times for affordable housing projects, directs the Office of Housing to track affordable housing reviews and approvals, and orders the formation of an Affordable Housing Development Review Advisory Committee to make further recommendations.
Asked after the press conference about housing production goals, Wu told GBH News that, ideally, she would eventually like 30% of Boston’s future housing development to be affordable.
