Tag: financing
Bond Helps Create Housing for Homeless Residents
Lynn, MA – MassDevelopment has issued a $7,080,800 tax-exempt bond for Centerboard, Inc., a Lynn nonprofit focused on increasing economic opportunities for North Shore residents. Centerboard will use bond proceeds to buy, renovate, and equip six properties that will be used as temporary housing or programming space for homeless families and individuals. The organization will […]
Cambridge Affordable Housing Receives Financing
Boston – MassHousing has closed on a total of $87.2 million in affordable housing financing to the non-profit Homeowners Rehab, Inc. (HRI), for the modernization and preservation of affordability at the 300-unit 808 Memorial Drive in Cambridge. MassHousing provided Homeowners Rehab with a $61.5 million tax-exempt construction and permanent loan, $24.9 million in taxable and […]
Funding Provided to JPNDC
Boston – MassDevelopment has provided a $120,000 award from the Brownfields Redevelopment Fund to Jamaica Plain Neighborhood Development Corporation (JPNDC), which used funds to remediate soil on three formerly vacant parcels in Boston’s Jamaica Plain neighborhood that form the site of a new affordable housing development. Construction began last fall on the Call Carolina development, […]
Newton Affordable Housing Receives Financing
Boston – MassHousing has provided $8.1 million in affordable housing financing to the non-profit Newton Community Development Foundation (NCDF), to preserve and extend the affordability for lower-income senior citizens for at least 20 years at the 43-unit Casselman House in Newton. NCDF refinanced Casselman House through MassHousing’s Multifamily Accelerated Processing (MAP)/Ginnie Mae Joint Venture Initiative with lender partner Rockport Mortgage Corporation. MassHousing offers the MAP/Ginnie Mae loan program to the owners […]
Roxbury Affordable Housing Receives Financing
Boston – MassHousing has closed on $25.25 million in affordable housing financing, to an affiliate of Vitus, for the preservation and rehabilitation of 82 affordable housing units in Roxbury. Vitus will utilize the MassHousing financing to combine a pair of Roxbury affordable housing communities, the Fort Hill Gardens and Esperanza Trust properties, into a single development entity, make substantial capital improvements […]
Marlborough Industrial Building Receives Financing
Marlborough, MA – Washington Trust’s Commercial Real Estate Group recently provided $10 million to an affiliate of Berkeley Partners, for financing of a 144,784sf industrial building in Marlborough. The property features a modern flexible design, with about 20 foot clear heights and ample loading docks. The building is conveniently located in Marlborough and provides excellent […]
Financing Provided for Milford Office Headquarters
Milford, CT – Washington Trust’s Commercial Real Estate Group recently provided $5.7 million to Lexmar Realty, LLC, for the construction and permanent financing of a new 23,293sf office building at 100 Plains Road in Milford. This new location benefits from its I-95 frontage and is about 15 miles southwest of New Haven Central Business District […]
MassHousing Closes on Financing
Boston – MassHousing has closed on $22.8 million in affordable housing financing to the non-profit, Just-A-Start Corporation (JAS), for the construction of 23 affordable apartments and to renovate and preserve the affordability of 65 existing apartment units in Cambridge. MassHousing provided Just-A-Start with an $8.2 million permanent loan, a $13.6 million bridge loan and $1 […]
MassHousing Finances Redevelopment
Boston – MassHousing has closed on $35.8 million in affordable housing to Trinity Financial for the redevelopment of the former Worcester County Courthouse in downtown Worcester. The financing will be used to redevelop the former courthouse into 117 apartments for households across a wide range of incomes, including 45 workforce housing units. The general contractor is […]
Masshousing Financing Helps Seniors
Boston – Senior citizens living at the 200-unit Covenant House I and II housing community in Brighton have had affordable rents extended through 2052 and will see significant property improvements as a result of $44.8 million in MassHousing affordable housing financing to the nonprofit developer B’nai B’rith Housing. As part of the refinancing, a number […]
