Gov. Charlie Baker wants to devote more than $1 billion to affordable housing over the next five years with the goal of preserving or creating 5,000 affordable units.
The Republican said Monday his capital plan for Massachusetts will include $1.1 billion for housing.
Baker says the proposal will support existing housing programs and also finance efforts to maintain affordable housing that is at risk of flipping to market rate.
Under his proposal, investments in public and affordable housing would increase by eight percent in the 2017 fiscal year that begins July 1 and 18 percent over the course of the plan.
Baker says it would help local housing authorities and encourage the private construction of affordable housing.
The plan comes as Massachusetts faces a housing squeeze due to high demand.