January is often considered a “milestone” month in the year. The month typically incites many mixed emotions, including that of nostalgia, as one reflects on the memories made in the past year, and brings about feelings of excitement and hope for those setting goals in the new year. January is a good marker to recount challenges and achievements from the past year. While achievement is sometimes subjective, and in the world of politics and government, one person’s achievement can be another person’s defeat, the present administration in the City of Boston has claimed several accomplishments in 2023.

The best laid plans do not always come to fruition, but on the housing front, we know what to expect and what not to expect from the City and the present administration as we move into 2024.

They point to what they characterize as major successes in various arenas, such as gun violence, employment, education, and housing. However, particularly relevant for individuals working with condominiums, or in real estate in general, are the real estate-related initiatives undertaken in Boston (in the past year and/or beginning for the first time this year), which will be further highlighted herein and can be found at the City of Boston website.

The City of Boston has already implemented some initiatives to curb climate change and is coming at it via several angles through new construction and zoning practices. Consistent with the Executive Order, “An Executive Order Eliminating the Use of Fossil Fuels in New Construction and Major Renovations of City Buildings”, which became effective July 31, 2023, the Wu administration points to two new community centers and two libraries underway, which will be fossil fuel free. Furthermore, this year, zero net carbon zoning is being introduced. The City also claims to have become more green in 2023, as the Parks Department's Urban Forestry Division planted 1,300 new trees.

On the housing front, this past year, the encampments at Mass and Cass were removed and hundreds of individuals were situated with housing accommodations. By the City’s estimation, those efforts at Mass and Cass led to the lowest unsheltered rate in the nation. The Wu administration hopes the launch of a new office-to-residential conversion program is going to add needed housing units in the City. There are proposals pending that would turn eight downtown office buildings in Boston into housing options. The Boston Planning & Development Agency (BPDA) has stated that this will create 170 new units, 34 of which will be affordable, all in the downtown area of the City.

In an effort to introduce more housing, particularly affordable housing, the BPDA and the City plan to undertake a rezoning study to foster development of affordable dwelling units. In 2023, nearly 7,400 units were approved for affordable housing, which the City maintains is the highest ratio of affordable housing permitted by the City in over a decade. The administration’s stated goal in Boston is to provide an even higher ratio of affordable housing permitted in 2024.

In terms of public housing, in the coming year, there are plans to identify locations for nearly 3,000 new public housing units. In connection with this initiative, the federal government is to provide more than $100 million per year to upkeep said public housing units. The Boston Housing Authority has indicated that for the past four decades, the City has not built any new public housing units, suggesting the major change we can expect to see as these units are built over the next decade.

The goal of creating more affordability in the Boston housing market is commonly accepted as necessary to support and sustain the economic vitality of Boston and the surrounding region. One thing the Wu administration has indicated is that it does not intend to do to advance that effort is offer tax incentives in order to jump start certain housing construction projects that have stalled in the City because of higher interest rates and construction costs. In Mayor Wu’s words, the administration has determined that the City cannot afford what “it would take to close the gaps, to make these projects actually move forward.” If those projects are to get back on track, it appears they will have to do so without subsidy from the City.

Of course, as we all know, the best laid plans do not always come to fruition, but on the housing front, we know what to expect and what not to expect from the City and the present administration as we move into 2024.