Multi Residential Restoration/Renovation Senior/Assisted Living

Bond Issued for Independent Living Facility

Bedford, MA – MassDevelopment has issued a $4,230,000 tax-exempt bond on behalf of Coastline Elderly Services, Inc., a New Bedford-based nonprofit providing services designed to support and maintain independent living for older adults as well as programs to assist individuals with disabilities and other disadvantages.

Coastline will use bond proceeds to buy and renovate a building at 2104-2110 Acushnet Avenue, which will house offices and programs formerly located in a smaller building at 1646 Purchase Street.

The organization will also use bond proceeds to buy adjacent land and a single-family home on the property, which will be demolished and converted into a parking lot and building entrance. East Boston Savings Bank purchased the bond, which MassDevelopment enhanced with a guarantee.

 

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