Gov. Maura Healey poses with the bank's old safe. The building is being refurbished for housing by Allegrone Companies. The project is being supported by a commercial tax credit and a $1.8M MassWorks grant for infrastructure improvements. 

PITTSFIELD, Mass. — Gov. Maura Healey stood in the former Berkshire County Savings Bank on Tuesday to announce housing initiatives that are expected to bring more than 1,300 units online. 

"People come here from all over the world. We want them to stay here, and we want kids who grew up here to be able to afford to stay here, but the problem is that for decades, we just weren't building enough housing to keep up with demand," she said. 

"And you guys know what happens when there isn't enough supply: prices go up. We have among the lowest vacancy rates in the country, so against that challenge, we made it our priority from day one to build more homes as quickly as possible." 

Approximately $8.4 million from the new Commercial Conversion Tax Credit Initiative (CCTCI) is designed help communities transform empty or rundown commercial buildings into new homes along with $139.5 million in low-income housing tax credits and subsidies through the Affordable Housing Development grant program. 

The historic 24 North St. with a view of Park Square has been vacant for about two years, and Allegrone Companies plans to redevelop it and 30-34 North St. into 23 mixed-income units. The administration announced its Commercial Conversion Tax Credit Initiative (CCTCI) and the Affordable Housing Development grant program as ways to aid housing production, both of which Pittsfield will benefit from. 

The state is partnering with Hearthway for the construction of 47 affordable units on Linden Street, utilizing the former Polish Community Club and new construction, and Allegrone for its redevelopment of the block. 

The Linden Street project is one of the 15 rental developments the Executive Office of Housing and Livable Communities is supporting through $25.7 million in federal low-income housing tax credits, $32.4 million in state low-income housing tax credits, and $81.4 million in subsidies. 

Allegrone's project is supported by the commercial tax credit and was recently awarded $1,800,000 from the MassWorks Infrastructure Program. 

Lt. Gov. Kim Driscoll said she fully comprehends the importance of housing and how crushing it is in communities that need it and want to build, but face difficulties with high construction costs. 

"Housing is the key to keeping people in the community in a safe way and giving them an opportunity to fill those many roles that we need throughout the Commonwealth in cities and towns, large and small, urban and rural, these are all important work. Having somebody fix your boiler, fix your car, we want those individuals to be able to live in our communities as well, particularly in our gateway cities," she said.