Housing production has not met demand and housing prices in the towns of the 495/MetroWest region of Massachusetts are currently at all-time highs. As a result, it is extremely difficult for young families to purchase a home here – even in the towns they grew up in. It is less likely than ever that the police officers, firefighters, teachers, nurses and other essential service workers can afford to live in the towns they serve. As for empty nesters, the housing options available to them are increasingly limited.

Additionally, the lack of affordable housing penalizes employers in the area whose workforce has to drive here daily from as far away as New Hampshire and Rhode Island. Executives from prominent regional companies like Massachusetts Electric, Banknorth, Putnam Investments, Fidelity, TJX Companies and Citizens Bank all cite housing costs as a key worry. Some companies even say they may need to relocate facilities to other states if the housing issue isn’t adequately addressed.

Like all parts of the State, 495/MetroWest should produce enough new housing, both for homebuyers and renters, to accommodate new household growth and maintain normal vacancy rates and inventories. The social and economic vitality of the region depends on it.

495/MetroWest is projected to grow by nearly 17,000 new households and create 30,000 new jobs between 2000-2010. We began the new millennium with a housing shortage since supply did not keep pace with demand between 1990-2000. In the years since 2000, the 32 communities of 495/MetroWest have added about 5,000 housing units. It is estimated that an additional 13,000 are needed between now and 2010 to accommodate projected household growth.

home@last was created to promote the development of these homes.