Tag: MassDevelopment
MassDev Helps Redevelop Affordable Housing
Boston – MassDevelopment has issued a $5.3 million tax-exempt bond on behalf of EAFD Brook Ave. Developer LLC, an affiliate of EA Fish Development, that will use bond proceeds to buy and renovate a multifamily facility in Boston’s Roxbury neighborhood. Brook Avenue Cooperative consists of 36 three-bedroom units, all of which will be rented to […]
WCAC Launches Head Start Program
Webster, MA – MassDevelopment has issued a $1 million loan to the Worcester Community Action Council, Inc. (WCAC), an agency that offers a wide range of education, employment, and social service programs throughout 45 communities in central Massachusetts. After an exhaustive site search, WCAC recently signed a 25-year lease with the town of Webster to […]
KIPP Lynn Fund Gets MassDev Bond
Lynn, MA – MassDevelopment has issued a $25.5 million tax-exempt bond for KIPP Lynn Fund Inc., an affiliate of KIPP Academy Lynn Public Charter School (KIPP Lynn), that will use bond proceeds to buy and renovate a 120,000sf industrial office building at 20 Wheeler Street in Lynn. The architect for the project is Arrowstreet, and […]
Pepperell Place Redevelopment Grows
Pepperell, MA – MassDevelopment has supplemented its original loan to Lexvest Chapel, LLC to provide $1.45 million in additional funding for the continued redevelopment of Pepperell Place, a 190,000-square-foot formerly vacant industrial building in Pepperell that has been converted into a business center. Lexvest Chapel, LLC is an affiliate of The Lexvest Group, LLC, a […]
JCC To Renovate With MassDev Bond
Newton, MA – MassDevelopment has issued a $10.6 million tax-exempt bond for JCC Greater Boston, a nonprofit local Jewish community organization. JCC Greater Boston will use bond proceeds to renovate a three-story physical education wing at its Leventhal-Sidman Center in Newton. These changes will include renovations to the locker rooms and men’s health center, as […]
Berkshire to Build Skilled Nursing Facility
East Longmeadow, MA – MassDevelopment has issued a $28 million tax-exempt bond for Berkshire Healthcare Systems Inc. of Pittsfield. They will use bond proceeds to buy a parcel of land in East Longmeadow, demolish an existing building on the parcel, and build and furnish a 131-bed skilled nursing facility. Berkshire Healthcare will also renovate, reconstruct, […]
UMass Memorial Health Care Gets Improvement Funds
Boston – MassDevelopment has issued a $109,865,000 tax-exempt bond for UMass Memorial Health Care, the largest healthcare system in central Massachusetts. UMass Memorial Health Care includes three hospitals: UMass Memorial Medical Center with its Memorial, University, and Hahnemann campuses in Worcester; UMass Memorial HealthAlliance-Clinton Hospital with campuses in Clinton, Burbank, and Leominster; and UMass Memorial-Marlborough […]
Nantucket Senior Housing To Be Renovated
Nantucket, MA – MassHousing has provided $1.5 million in financing to an affiliate of HallKeen Management. The funding will enable it to make renovations to Academy Hill, a 27-unit mixed-income housing community for senior citizens on Nantucket, and to preserve affordability for perpetuity. The Academy Hill School was built in 1929 and converted to senior housing […]
Lauren Liss Speaks to MassEcon
Westborough, MA – Lauren A. Liss, President and CEO of MassDevelopment, told MassEcon members recently that MassDevelopment, a quasi-public agency nearly 20 years old, has taken on new responsibilities in recent years. The agency is taking on more responsibilities including managing the working piers in Fall River and New Bedford, in addition to the Gloucester pier […]
Livestock Processing Facility Financed
Westport, MA – MassDevelopment has partnered with BayCoast Bank to provide The Livestock Institute of Southern New England Inc., a Westport nonprofit that supports the livestock industry, with loan financing to build a state-of-the-art, USDA-inspected slaughterhouse and processing facility called Meatworks in Westport. BayCoast Bank provided a $5 million construction loan, while MassDevelopment provided a […]
