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RI Bank Funds Three Affordable Housing Projects

| November 7, 2019

370 Harvard St., Brookline

Providence, RI Citizens Bank announced that its Community Development Group has provided $36.5 million in construction loans for three affordable housing projects in Massachusetts.

Citizens provided a $17 million loan to 2Life 370 Harvard LLC, an entity sponsored by 2Life Communities, for the construction of 62 units of affordable senior multi-family housing in Brookline.

41 Spring Bars Road, Falmouth

Citizens also announced a $12.5 million construction loan to Shirley Commons LLC, an entity sponsored by The Women’s Institute for Housing and Economic Development, for the construction of 58 units of affordable senior multi-family housing in the Shirley area.

27 Hospital Road, Shirley

Finally, Citizens provided a $7.5 million construction loan to help finance Little Pond Palace, a joint venture between Affirmative Investments, Inc. and the Falmouth Housing Project that will feature 40 new units of affordable multi-family housing in Falmouth.

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