Racial Justice Housing Agenda
The Racial Justice Housing Agenda affirms MassHousing's longstanding commitment to diversity and inclusion. This Agenda will invest in the development and implementation of strategies to address racial disparities in housing and advance wealth generating opportunities in communities of color. The strategies will also encourage and support a racially diverse workforce within MassHousing and across the affordable housing industry.
MassHousing staff will work collaboratively across the agency and form external partnerships to achieve the agenda’s goals. The agenda is a dynamic and living document that will evolve and be expanded as needed.
Racial Justice Housing Agenda
The Racial Justice Housing Agenda affirms MassHousing's longstanding commitment to diversity and inclusion. This Agenda will invest in the development and implementation of strategies to address racial disparities in housing and advance wealth generating opportunities in communities of color. The strategies will also encourage and support a racially diverse workforce within MassHousing and across the affordable housing industry.
MassHousing staff will work collaboratively across the agency and form external partnerships to achieve the agenda’s goals. The agenda is a dynamic and living document that will evolve and be expanded as needed.
Racial Justice Housing Agenda Vision
Community Empowerment
Create programs and products to support wealth empowerment through housing in communities of color
Business Empowerment
Cultivate a pipeline of diverse business owners and professionals in the affordable housing and community development industry
Inclusive & Learning Organization
Support the recruitment and professional growth of diverse talent within MassHousing
Collaborative & Innovative Organization
Encourage cross-agency collaboration and external engagement for the implementation of the Racial Justice Agenda
Goals of MassHousing's Racial Justice Housing Agenda
- Create wealth generating opportunities through housing for people of color in the Commonwealth of Massachusetts.
- Increase diverse participation in the affordable housing and community development industry.
- Foster a community of growth, learning and cohesion within MassHousing.
- Raise awareness of the history of racial discrimination in housing and advocate for policy change.
Strategic Business Diversity & Inclusion Goals: FY 2022-2026
MassHousing's fiscal year 2022-2026 strategic business goals affirm the Agency's longstanding commitment to diversity and inclusion by setting ambitious, measurable objectives to support the participation of people of color in all aspects of the Commonwealth's housing industry.
- 50% of homeownership lending to borrowers who identify as people of color. This is not a cumulative measure.
- 10% of multifamily projects and 5% of multifamily portfolio balances to borrowers who are either minority-owned or have senior principals of color on their teams.
- 25% diversity of management staff (D-Band & above); mirrors the diversity of the Commonwealth.
- 15% of Agency five-year discretionary expenditures to M/WBEs, with at least 6% to MBEs. Between FY16 and FY20, the five-year discretionary spend was 9% with M/WBEs and 6% with MBEs.
- 75% of bonds issued under ESG designation.
Racial Equity Advisory Council for Homeownership (REACH)
In 2018, MassHousing and DHCD established the Racial Equity Advisory Council for Homeownership (REACH), a public-private working group that seeks to narrow the racial homeownership gap through demand- and supply-side strategies. The work of REACH led MassHousing to participate in an important and ongoing dialogue on this topic, which brought the issue of the disparities for homebuyers of color into clearer focus.
Through REACH's advocacy, MassHousing was awarded $60 million in 2019 to launch the CommonWealth Builder Program, a landmark initiative to address the racial homeownership gap in Massachusetts by creating new homeownership and wealth-building opportunities in communities of color. CommonWealth Builder is the largest state-level program of its kind in the nation. Starting in 2019, the state legislature granted funding to MassHousing for a statewide down payment assistance program for low-income homebuyers.
A Path Forward: Crafting a Just Housing System for the Commonwealth
On April 28, 2021, MassHousing hosted a virtual symposium to discuss policies and practices for building a just housing system for Massachusetts communities.
The event featured five discussion sessions with talented practitioners working to address racial disparities in housing and promote economic empowerment for people of color. It is our hope that these discussions will spur new ideas, connections and partnerships in the area of racial justice in housing.
- Addressing the Racial Homeownership Gap: Innovative Programs for First-Time Homebuyers of Color
- COVID-19 Housing Stability Response: Best Practices and Lessons Learned for Supporting Renters through Pandemic and Economic Crisis
- Diversity Equity & Inclusion at Work: Building and Supporting a Diverse Organization
- Building the Pipeline: Supporting Minority-Owned Business Enterprise Participation in the Mass. Housing Development Ecosystem
- Policy Brief: Federal, State and Local Policy Actions for Housing Production
