“Massachusetts' historically racialized home mortgage market and resulting racial wealth inequalities indicate a need for programs like STASH, which creates equitable homeownership opportunities for families of color,” said @jittygurl /1 #bospoli #mapoli mahahome.org/Dorchester-Bay… 
MAHA today announced that the developers of Dorchester Bay City, a joint venture of Accordia Partners, LLC and the Real Estate Group of Ares Management Corporation, have committed $10 million to fund its STASH program for first generation homebuyers. #bospoli #mapoli /2
STASH provides homebuyer ed and matched savings for a down payment on a house in MA. Launched in 2019, the program is the 1st of its kind in the country and serves a population, first-generation buyers that is not widely recognized by policymakers or public. #bospoli #mapoli /3
“Our goal is to create a $100 million fund to support the STASH program and dramatically expand the number of qualified first-generation homebuyers we can support,” said MAHA Director of STASH and Homeownership Operations Symone Crawford #bospoli #mapoli /4
“Dorchester Bay’s commitment is a significant step toward this goal and should incentivize others to consider similar contributions to address risk of displacement and gentrification associated with new development projects.” #bospoli #mapoli /5
“Though this project is primarily comprised of commercial space, we wanted to maximize the opportunities for nearby residents to buy homes in their neighborhoods,” said Kirk Sykes, Accordia Partners. #bospoli #mapoli /6
“We are confident that the unique aspects of the STASH program and MAHA’s relationship with countless potential homebuyers, many of whom are people of color, and other partner nonprofits means that these commitments will make a…meaningful impact.” #bospoli #mapoli /7
Dorchester Bay City has been in detailed conversation with MAHA members for nearly 18 months, with a focus on identifying programmatic opportunities that would best support wealth generation and home ownership goals important to the community. #bospoli #mapoli /8
Ruthzee Louijeune assisted with the drafting of commitment and led discussions on what it would entail. Acia Adams-Heath, Geneva Cooper, Donna King, Kathy Glynn, Segun Omolade, and Felicia Richard, with Louijeune, led more than 250 ppl in mtgs with DBC execs. #bospoli #mapoli /9
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