The Holyoke Housing Authority (HHA) has been awarded a $2 million grant from the Massachusetts Community Scale Housing Initiative (CSHI) for Phase I of South Holyoke Homes. The 12-unit project has also received $550,000 in HOME funds from the City of Holyoke, $840,000 in permanent financing from PeoplesBank, and $908,759 in developer equity. Additionally, $221,000 of an over $6 million 2019 MassWorks grant to support South Holyoke infrastructure and streetscape improvements will be used for Phase 1. South Holyoke Homes is a partnership between the HHA and the Holyoke Redevelopment Authority to construct affordable rental and homeownership housing centered around Carlos Vega Park in South Holyoke and will be constructed in five phases. A groundbreaking will take place soon and construction will start this summer.
CSHI is a joint initiative of the Massachusetts Department of Housing and Community Development and MassHousing that provides funding to produce smaller scale affordable housing developments in communities with populations fewer than 200,000. $7.02 million has been granted in this round of funding.