State launches Gateway City market rate housing program

The Patrick Administration announced a new first-of-its-kind state tax credit program this week to encourage market rate housing development in the Gateway Cities.

The small pilot program, created by economic development legislation in 2010, provides developers with tax incentives to rehabilitate properties and build multi-unit market rate housing. This effort is a first step toward correcting the imbalance in state housing policy outlined in a 2009 policy brief.