Massachusetts is garnering the lion's share with $9.3 million in grants, loans and rate subsidies that will affect 240 units throughout 13 cities. The money will create a variety of rental units such as 38-42 Upton St. in Boston, which will rehabilitate 37 units in row houses in the South End for low-income individuals. Thirty units will be for the formerly homeless and one set aside for a manager making between 51% and 60% of the area median income. Rehabilitation is the theme for 196 Federal St. in Greenfield, turning 10 units into two-year transitional housing for homeless at-risk youth, many of whom have aged-out of foster care. Other low-income redo projects are happening in Newton, Spencer, Turner Falls and Westfield. And North Bedford is acquiring and renovating a foreclosed three-family home into seven single-occupancy units.

The Bay state is also building more affordable housing in Roxbury, Ipswich, Lawrence, North Chelmsford, Northampton, and Turner Falls. Notably, Pittsfield is building the Berkshire Veterans' Village, which will entail 39 units of housing specifically for homeless veterans. The community is also providing support services such as employment training, job placement and family self-sufficiency. Westfield is providing similar help with the construction of its Reed House Annex helping very-low income residents live in one-bedroom units, while offering GED classes, training and employment.

"The credit crisis has made the need for affordable housing even greater," says the bank's president and CEO, Michael Jessee, in a released statement, "now more than ever, working families, seniors, and special needs populations need decent housing, and I'm proud that our contribution will help make that a reality for more than 400 individuals and families."