Mayor Wu looks to piggyback on state fund to build housing

By Greg Ryan • Published November 19, 2024 • Updated on November 19, 2024 at 3:33 pm

Boston Mayor Michelle Wu speaks at an event in Charlestown on Tuesday related to the city’s new accelerator fund.

Boston real estate developers with stalled residential projects may soon have a one-stop shop for both state and city funding.

Boston Mayor Michelle Wu on Tuesday unveiled more details about the city’s “accelerator fund,” meant to provide low-cost financing to developers to help them start construction on approved multifamily projects. Private market-rate developments will be eligible for the fund, though at least 20% of their residences must be income-restricted, among other criteria.

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