For a community to be sustainable, there must be housing options available to people of all income levels. In order to keep Somerville economically diverse, Somerville Community Corporation (SCC) builds affordable rental housing, creates homeownership opportunities, and develops retail spaces.
SCC has developed and owns and operates over 230 units of rental housing and more than 9,000 square feet of commercial space comprising four commercial units, which are leased to a healthcare clinic, dentist, daycare center and variety store.
The 230 units, spread among 10 properties, were developed with Low Income Housing Tax Credit equity (six properties) and various combinations of affordable housing financing from the Commonwealth of Massachusetts, the City of Somerville’s Affordable Housing Trust and Community Preservation Act Funds and federal resources such as McKinney-Vento Homeless Act, and Home Investment Partnership program funds.
Some of our properties exclusively serve homeless families and individuals, while many of our properties also set aside units for people with permanent physical or mental impairments.
In the last two years SCC, with Community Preservation Act funds, has begun purchasing existing two to five unit properties through the 100 Homes program, a partnership with the City of Somerville, to permanently remove properties from the escalating Somerville housing market. We’ve purchased 20 units in 7 properties to date and helped avoid the displacement of 7 families. Finally, SCC has successfully developed more than 50 units which were sold as affordable homeownership opportunities to local residents.