The City of Boston, supported by First Citizens Bank's $1 million contribution, has acquired and preserved 16 affordable apartments at The Hillcrest to combat housing instability and displacement.

Information on the Target

The City of Boston has successfully acquired and preserved 16 affordable apartments at The Hillcrest, located at 237 Cummins Highway in Roslindale. This initiative is part of the City’s Acquisition Opportunity Program (AOP) and is anticipated to ensure that residents can continue to live in their community without the fear of displacement. The Hillcrest, which had not undergone ownership changes in over three decades, offered rents significantly below market levels, approximately 35 percent lower than the average for the neighborhood, demonstrating a critical need for preservation efforts as market pressures mount.

By taking the Hillcrest off the speculative market, Boston aims to provide long-term housing stability for current residents. Community partners, including Lavi Investment LLC, are instrumental in maintaining this level of affordability, reflecting a commitment to supporting families in the area while safeguarding their housing rights.

Industry Overview in the Target's Specific Country

The affordable housing sector in the United States faces significant challenges, particularly in urban centers like Boston. Rapid population growth and rising property values have exacerbated the demand for affordable hous