Housing
There is a desperate need to protect rapidly-disappearing, entry-level housing stock. Ward 8 contains a very high percentage of Newton’s post-World War II housing that could be renovated for low- and moderate-income families rather than being destroyed for new homes selling for $3-5 million.
Children of life-long residents cannot afford to live in Newton. People who teach our children, protect our lives and property, workers in restaurants and other industries not only can’t afford to buy property, but also can’t afford average rents which are in the range of $3,000-4,500 per month. Families that have created nest eggs over 30-40 years find the value of their homes when sold today will not allow them to downsize and stay in Newton.
Preserving Properties
Preserving Structurally Sound Properties for Reuse clearly pertains to many homes in Ward 8. These homes are structurally sound and can be updated for affordable, entry-level housing. To achieve this, Newton should greatly expand the capacity of its affordable housing programs for low- and moderate-income people who have lived here all their lives and wish to continue to do so, and for young, working families who wish to stay or move here.
The Current Process
Sells for $1.45 million
After NHC Demo Delay
Sells for $3 - 5 million
I will work tirelessly to implement a plan that will dramatically bolster the City’s ability to combine Community Preservation Funds with the Newton Affordable Housing Trust in order to preserve existing housing and create new affordable units.