Wu promises housing solutions as Boston faces a fiscal crisis
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Photo Illustration: Brendan Lynch/Axios; Photo: Lane Turner/The Boston Globe via Getty Images
Michelle Wu steamrolled past her competition last year to capture a huge political mandate from voters and win a second term at City Hall.
- Now we get to see how she plans to handle the challenges of governing Boston in 2026 and beyond.
Why it matters: Housing affordability is at the core of Wu's vision to make Boston "home for everyone." The crisis threatens the city's economic outlook and the financial stability of Boston families.
- Wu's second inaugural address framed Boston's housing crisis as a challenge rivaling the city's occupation by the British in the Revolutionary War 250 years ago.
By the numbers: In her Symphony Hall speech, Wu took victory laps for accomplishments in her first term, including:
- 4,200 affordable homes built
- 2,000 more affordable units under construction
- More first-time homeowners assisted than ever before
- The retail vacancy rate cut nearly in half from two years ago
She also took credit for converting vacant city lots and empty office buildings into hundreds of new homes while tackling "outdated zoning and red tape."
The big picture: Wu called housing "a public good," and invoked Boston's history of embracing the three-decker housing model in the early 20th century to solve past housing crises.
- The mayor pledged to "continue inventing new ways to use public planning, public finance and public land to create the homes our residents need."
The other side: While the Wu-friendly City Council and other Boston lawmakers applauded the speech, Wu's critics were quick to point out what the mayor didn't address.
- Boston Policy Institute Executive Director Gregory Maynard said in a statement that the "speech shed no light on the fiscal crisis that Boston is in the midst of, or Mayor Wu's plan to tackle it."
- Maynard pointed out the absence of the dip in property value for commercial buildings, a downturn that's threatening the city budget and forcing higher taxes on homeowners.
- There was also no mention of the 2% cut to city departments that Wu has said will happen this year.
The bottom line: Housing remains Wu's top priority, but economic headwinds and challenging fiscal times ahead could derail her cheery second-term vision.
What's next: The mayor's budget plan is due to the City Council by April 8.
- Then, voters will see how much of Wu's campaign promises and upbeat attitude can survive a looming fiscal emergency set atop the longstanding housing crisis.