Wu seeks tax breaks for Boston housing

Mayor Michelle Wu proposed short-term tax relief for four approved market-rate housing projects in Boston to help accelerate the construction of at least 1,400 new units by 2027. The estimated $31.5 million in tax abatements aim to address financing challenges and revive the city's sluggish housing development pipeline amid rising costs and economic constraints. The city plans to review and potentially expand this incentive, which could eventually support up to 4,000 units across multiple projects, by offering targeted tax breaks to incentivize developers and boost housing supply.

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