PEABODY — Regional leaders, including Mayor Ted Bettencourt and Lynn Mayor Jared Nicholson, met at the Boston Marriott Peabody to share updates on their municipalities and highlight key goals for the area at the North Shore Chamber of Commerce’s Annual State of the Region Breakfast on Thursday.

In a presentation, Nicholson noted the cost of housing is a “top issue for the region.”

​”A lot of us agree that the main way we’re going to solve it in the long run is supply, and building the units that our employees and our residents need,” he said.

Nicholson added that as the region addresses the supply of housing, it also needs to address affordability.

He noted that at last year’s regional breakfast, he announced the launch of the Affordable Housing Trust Fund, for which nearly all of the funds have now been committed to projects across Lynn.

“I think we have a special obligation as we think about affordability, because that extra unit can be the difference between one of our residents keeping a roof over their heads, and so it’s something that we work hard on every day,” he said.

Nicholson added that improving transit is an important part of aiding the region’s workforce.

While he said the region is “underserved by rail transit,” he noted the $500,000 Lynn was awarded to redo its Commuter Rail station in West Lynn. He added that the state’s broader plan to electrify the MBTA is something all the region’s leaders should advocate for.

“We need to continue to pressure the state to follow through on a commitment that it is their plan to electrify the Commuter Rail,” Nicholson said.

He also highlighted the success of the youth summer work program, which employed 400 students this year. The program guarantees students a job upon application.

“I think it’s critical to note that just by making that commitment to our young people, that there is a place for you,” he said.

Bettencourt touted $20 million in funds that is being used to redo the Central Street corridor. He said the project includes a new road surface; sidewalks and curbs; crosswalks; traffic signals; and modern design amenities.

“It will improve traffic flow, accessibility, and the safety and quality of life of thousands of residents and the nearly 70,000 drivers who pass through that road each day,” he said.

He also shared that the Massachusetts School Building Authority recently accepted the city into its funding program and the city will soon build a new Veterans Memorial High School.

“Peabody will soon be home to a new high school, which meets the needs of our students, faculty, and staff, and one in which our entire region can take pride,” Bettencourt said.

Bettencourt added the city’s school district aims to “greatly expand” technical and vocational opportunities for its students.

“​​We envision a new Peabody, which is a model for the future of learning in grades nine through 12,” he said.

He concluded by saying Peabody is a city that is “on the move, investing in the future of our infrastructure, education, and public safety.”