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Milestone Marked In HomeBridge Program

Monday, March 17, 2025
New housing being built in Cambridge
New housing being built in Cambridge
A family that lives and works in Cambridge recently experienced “a dream come true.” They became homeowners through HomeBridge, one of the City’s first-time homebuyer programs. The new homeowner owner said, “I did not expect myself to buy a house in Cambridge. If not for the huge role of the City, I [would have] had to leave for other areas where I could find affordable property.”

The sale of this particular Cambridge home not only was a “dream come true,” it marked an important milestone – it was the 100th home purchase assisted through the Cambridge HomeBridge Program. HomeBridge is a City-funded program that helps eligible moderate to middle- income buyers purchase a home in Cambridge. The program provides financial assistance toward the purchase of a home on the open market. In exchange, buyers enter into an affordable housing restriction, which makes the home part of the City’s permanent affordable housing stock.

“This opportunity is a big deal and big success for us”, says the homeowner. “It is not something we plan[ned] for. We were kind of stuck in the middle of nowhere. Now, we are so amazed and thankful that the City paid the big portion of the cost and enabled us to be homeowners.”

HomeBridge is unique in that it creates new, permanently affordable homeownership opportunities, one unit at a time, in neighborhoods that don’t have as many affordable housing opportunities.

Cambridge Housing Director Chris Cotter says, “HomeBridge bridges the gap between what a family can afford and what the market is asking. The market conditions still exist. However, this program allows families to really enter the market, and over time this helps us create affordable homes across the City. In particular, we have been able to create affordable family-sized units.”

To learn more about HomeBridge, visit https://www.cambridgema.gov/HomeBridge.
" HomeBridge bridges the gap between what a family can afford and what the market is asking. "
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