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Boston Acquisition Fund

Protecting Tenants, Preserving Long Term Affordability, Preventing Displacement

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The Boston Acquisition Fund (BAF) is a public-private revolving loan fund established by Mayor Michelle Wu and a number of Boston institutions and philanthropies to tackle one of the city’s most pressing challenges: preserving housing affordability. 

Administered by the Massachusetts Housing Investment Corporation, the BAF provides low-interest loans to mission-driven developers to purchase occupied multi-family housing in the city to protect current residents from displacement and stabilize communities affected by rising rents and speculative investment pressures. This fund is designed to protect and preserve long term affordability for tenants, fight displacement, and ensure Boston remains a home for everyone. As loans are repaid, funds are reinvested to support new housing acquisitions, creating a sustainable model for preserving affordability.

Key Goals of the Housing Acquisition Fund

The fund’s primary objective is to acquire and preserve “naturally occurring affordable housing” (NOAH), such as rental units that are currently renting below market rates. The Boston Acquisition Fund works to:

  • Prevent Displacement: By acquiring occupied buildings, the fund helps stabilize housing for families and individuals at risk of losing their homes due to rising rents or investor buyouts.
  • Preserve Affordability: Housing acquired through the fund will remain permanently affordable, keeping costs manageable for low- and moderate-income residents.
  • Promote Equity: The fund encourages applications from teams led by local MWBE developers, ensuring equitable access and community benefits across Boston’s neighborhoods.

Building on Proven Success

The Boston Acquisition Fund builds upon the success of the City’s Acquisition Opportunity Program (AOP), which has already secured over 1,000 units of affordable housing since its launch. The BAF amplifies this proven strategy, providing resources to acquire even more units and prevent further displacement.

Join Us in Making Boston a Home for Everyone

For more information on the Boston Acquisition Fund, or to learn how you can become an investor in the fund, please go to the MHIC Boston Acquisition Fund page. Together, we can ensure that Boston remains a welcoming and inclusive home for all.

 

Who's Involved:

Housing
617-635-3880
Mayor's Office
617-635-4500
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