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Despite the progress, city leaders acknowledged the process is time consuming and faces financial constraints.
Council President Ruthzee Louijeune, who asked for the hearing, called housing affordability one of the most critical issues facing the city. Converting properties the city already owns into homes for people could be a key part of its strategy to address the crisis, she said.
“Our city owns much land and many buildings, such as parking lots, schools, police stations, libraries, that are vacant or underutilized,” Louijeune said. “I’m hopeful that today we can start reimagining how we use these assets and how we can help address this housing shortage in a meaningful way.”
A citywide land audit by Wu’s administration in 2022 found that 5.4 percent of the city’s properties is either vacant or underutilized. That is equal to 9.5 million square feet of land, the equivalent of about 165 football fields.
Right now, there are at least six large properties that the city is in the process of repurposing into housing, which will eventually create an additional about 1550 apartment units, about 80 percent of which will be income-restricted, said Sheila Dillon, the city’s Chief of Housing.
But while myriad funding sources contribute to these projects, Dillon said it’s still not enough, and the city will have to find more to keep the effort going.
Wu and other advocates have pushed for lawmakers on Beacon Hill to allow Boston to implement a transfer fee, or a new tax on high dollar real estate sales, which Wu has said could raise millions to build more affordable housing in the city . But the measure remains in limbo at the State House since it failed to pass before the end of formal sessions this summer.
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Boston also recently allocated its last $7 million of federal pandemic relief, or ARPA, funds to continue several affordable housing and small business programs. Out of the $560 million the city received as part of the program, more than 40 percent went to housing initiatives.
“Transfer fee didn’t pass, and ARPA is drying up, so I think we’re going to have to really look at asking the state to to help us more with our projects we want,” Dillon said.
This is a developing story. Check back for updates.
Niki Griswold can be reached at niki.griswold@globe.com. Follow her @nikigriswold.