Securing the Future Through Permanently Affordable Housing
The Boston Acquisition Fund is a public-private revolving loan fund that provides fast, low-cost financing to mission-driven developers working to preserve naturally occurring affordable housing in Boston. By leveraging the strict collateral requirements of the Federal Home Loan Bank, the fund helps developers acquire tenant-occupied buildings before speculative cash buyers who often raise rents or displace residents. This approach protects existing tenants, stabilizes neighborhoods facing rising rents, and creates long-term, permanently affordable housing across the city.
Protecting Affordability in Boston
In Boston, approximately 33% of all households spend more than 30% of their income on rent or a mortgage. Approximately 20% of all households spend more than 50%. The Boston Acquisition Fund operates within Boston city limits, targeting tenant-occupied naturally occurring affordable housing in historic triple-deckers and small-to-mid-sized multifamily buildings, which have long been the backbone of workforce housing in the area. After acquiring these buildings a deed restriction is added, creating permanent affordable housing in an area that is becoming increasingly inaccessible.
~390 homes preserved
8-12 week closing time
for mission-driven borrowers
This recognition highlights our ongoing work with leading hospitals, philanthropic and financial services partners, and the Massachusetts Housing Investment Corporation to create a unique financing model that supports developers who care about the community and helps residents stay in their homes. This award is a testament to what we can achieve when we work together to find new solutions in making our city a home for everyone.
Michelle Wu
Mayor of Boston