The Town of Provincetown and The Community Builders, a leading non-profit organization dedicated to creating affordable housing solutions, are thrilled to announce that Provincetown’s 3 Jerome Smith Housing Project was one of 27 housing projects to receive funding from the Massachusetts Department of Housing and Community Development (DHCD). The 3 Jerome Smith Housing Project was awarded funding in its first application round. This significant achievement is attributed to the unwavering commitment and strong support of local residents and officials.
DHCD will support this mixed-income project with federal and state low-income housing tax credits and over $9,000,000 in soft debt from a variety of housing funding programs, including ARPA funds.
The 3 Jerome Smith Housing Project aims to address the pressing need for year-round affordable and community housing in Provincetown. The project, which has received strong support from local stakeholders, marks a major step forward to help with Provincetown’s housing needs.
DHCD's decision to award funding to the 3 Jerome Smith Housing Project is a testament to Provincetown’s leadership through the Select Board and community’s support for housing. At Provincetown’s Annual Town Meeting in April 2023, supplemental Funding for the 3 Jerome Smith Road Housing Project was approved in the amount of $2,250,000 to be used to subsidize the Town’s portion of The Community Builder’s development of 65 affordable and community housing units at 3 Jerome Smith Road, pursuant to a grant agreement between the Town and the developer, which includes an affordable housing restriction to be held by the Town. This transferred $1,650,000 from excess funds within the Town’s Tourism Fund and $600,000 from Free Cash. This, along with $750,000 from the Affordable Housing Trust Fund approved by the Community Housing Council, made up the Town’s agreed upon $3,000,000 contribution to the project. In addition to the $3,000,000, another $500,000 of Community Preservation Act funds was recommended by the Community Preservation Committee, bringing the total local contribution to $3,500,000. The neighboring town of Truro also contributed $100,000 of Community Preservation Act funds to this project in a demonstration of regional support for housing.
"We are immensely grateful to DHCD for recognizing the significance of the 3 Jerome Smith Housing Project and its potential to positively impact the lives of individuals and families in Provincetown," said Andy Waxman, TCB New England Vice President of Development of The Community Builders. "This funding will propel us forward in our mission to provide affordable and quality housing to those who need it now."
Permitted through Chapter 40B, the 3 Jerome Smith Housing Project is a planned 65-unit new construction multifamily development in Provincetown. This project will provide affordable, resilient housing and amenities tailored to the needs of residents of Provincetown. The development will be comprised of four 3-story buildings on a 1.8-acre site providing rental housing for households earning 30% of area median income (AMI), 60% AMI, "workforce" moderate-income households (80% AMI), and a handful of market rate units. The project has been designed to incorporate numerous green development characteristics, including all-electric heating and cooling and solar-ready roofs.
"It's a great honor that this project was funded in its first application round,” said Town Manager Alex B. Morse. “I want to thank DHCD, but also the Select Board, Town staff, and residents for their strong collaboration and shared commitment to housing in our community. I’m excited to move this project forward and get shovels in the ground as soon as possible.”
The development will provide urgently needed year-round affordable rental housing in a location where year-round rental housing at all price ranges is under intense pressure from short-term rentals, remote workers, and seasonal owners. It will have 18 studio apartment units, 32 one-bedroom units, 10 two-bedroom units, and 5 three-bedroom units. Four of the units will be designated as CBH units for persons with disabilities.
With DHCD funding secured, the project is now on track to begin construction in Spring 2024. See DHCD’s full announcement at https://www.mass.gov/news/healey-driscoll-administration-announces-246-million-to-build-and-preserve-1600-affordable-and-mixed-income-housing-units.
For more information on the 3 Jerome Smith Housing Project, please visit https://jeromesmithengage.com/.