BOSTON, MASSACHUSETTS –The population of Boston is increasing at rapid paces. Consequently, the demand for new housing is an alarming issue for Boston right now. Boston officials are responding with aplomb.
Mayor Martin J. Walsh issued a statement saying the city increases its target of building new houses, apartments and condos by 30%. The city accomplished a lot over the last decade, but it wasn’t able to keep up with demand. As a result, Boston has to step up even more to house everybody in the city. Hopefully, this new goal will allow the city to get everyone the shelter they need to brave the New England winter.
Boston has built a lot of housing already, but more needs to be in the works.
Since 2011 the city has had a record of building over 18,000 units of housing. Nevertheless. The city undergoes a number of changes in various industries. New representations and establishment of new companies bring about a huge demand of new employees. Besides, the ever-booming economy and friendlier ecosystem push many residents to relocate to Boston. There are lots of reasons to move here, but for years, an abundance of housing hasn’t been one of them. With this new strategy in place, Boston aims to change that.
In 2014, Walsh presented its strategy of supplying the city with 53,000 new houses by 2030. The building processes are quite in line with the plan. Nevertheless, with the increase of the population, the set target seems insufficient. It is estimated that by 2030 the population of Boston will increase to 759,727 from 709, 400.
Walsh mentioned that a program is currently developed within which affordable houses will be subsidized. Nevertheless, it will cost over $50 million annually to subsidize this housing. However, additional funding will be required for the program to make the apartment affordable for the Boston residents.