Boston proposes $31.5M in tax breaks to restart stalled housing projects

The administration of Mayor Michelle Wu is proposing approximately $31.5 million in property tax abatements to revitalize four stalled housing developments in Boston. The initiative targets projects in the Charlestown, Allston, and Brighton neighborhoods that have been delayed by high interest rates and rising construction costs.

If approved, the four developments—One Mystic Avenue in Charlestown, 22-24 Pratt Street in Allston, 83 Birmingham Parkway in Brighton, and Building D at Allston Yards—would collectively deliver 1,400 new units, including 185 income-restricted units. The projects are also expected to create 1,582 construction jobs.

The Boston Planning and Development Agency (BPDA) board is expected to vote in October on designating these developments as “demonstration projects” following a 30-day public comment period. This designation would allow the city's assessing department to negotiate individual tax agreements to encourage construction to resume by 2027.