On January 7, in his State of the City address, Mayor Martin Walsh (D) pledged to dedicate $500 million over the next five years for affordable housing. These new investments will create rental and homeownership opportunities, preserve public housing, and establish a city-funded rental voucher program. The funding will come from increases in Boston’s operating and capital budgets with additional revenue generated by a transfer fee on real estate transfers in Boston over $2 million. The transfer fee is currently pending approval before the Massachusetts Legislature.