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The Greater Boston Partnership to Close the Racial Wealth Gap*

Fostering generationAL wealth through homeownership

*Powered by the Boston Foundation

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The Greater Boston Partnership to Close the Racial Wealth Gap is a broad-based group of more than 40 members representing sectors including banking and finance, housing, issue advocacy, government, healthcare and life sciences.

Established in late 2022 as part of the Boston Foundation's commitment to racial equity, the Greater Boston Partnership to Close the Racial Wealth Gap is a uniquely powerful effort to close racial wealth gaps in the city and region by increasing homeownership in communities of color.

Priorities

Increasing Housing Supply

Lack of adequate housing supply is a fundamental, underlying cause of the affordable housing crisis in Massachusetts. There simply are not enough housing units to meet the demands of Massachusetts residents, especially those with low or moderate incomes.

Expanding Down Payment Assistance

Coming up with the down payment and closing costs for a home is a major hurdle to homeownership. Expansion of these programs and other forms of subsidy can help families overcome these obstacles and save their cash reserves for expenses associated with being a new homeowner, like unexpected repairs.

Increasing Access to Affordable Mortgage Products

Access to affordable mortgage products allows prospective homebuyers the opportunity to make affordable monthly payments resulting in significant cost savings. These cost savings can save families hundreds of dollars a month that they can use for short-term disposable income and long-term savings.

RECENT News

upcoming events

  • Minding the Gap: Community Wealth
    Minding the Gap: Community Wealth
    Wed, Jun 26
    The Edgerley Center for Civic Leadership
    Jun 26, 2024, 9:00 AM – 10:30 AM
    The Edgerley Center for Civic Leadership, 75 Arlington St # 300, Boston, MA 02116, USA
    The third event in this series, “Minding the Gap: Community Wealth,” will explore the history of community wealth building strategies and the valuable role they play in addressing the racial wealth gap.

RESOURCES

Explore these and other documents and web elements on our Resources page

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Inquiries about the Partnership

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