On February 14, 2018, the Real Estate Bar Association (REBA) Affordable Housing Committee hosted a brownbag lunch forum to discuss the new Housing Choice Initiative and related legislation. Co-Chairs Kurt James of KJP and Carol McIver of MassHousing moderated a panel discussion on the likely impact of this legislation and the procedures for obtaining a Housing Choice designation and grant funds. The Housing Choice Initiative rewards municipalities that have produced certain rate or amounts of new housing units in the [...]
Congratulations to Boston Private Bank & Trust Company in closing a $27MM loan for the benefit of Young Men's Christian Association of Metro North, Inc. Boston Private purchased tax exempt bonds from Massachusetts Development Finance Agency and made the proceeds from the sale of the bonds available to finance the purchase and construction of a new Lynn YMCA, a project that will construct and furnish a new 68,900 square foot YMCA facility located at 20 Neptune Boulevard in Lynn, [...]
On November 15, 2017, the Real Estate Bar Association (REBA) Affordable Housing Committee hosted a brownbag lunch forum to discuss the City of Boston’s new property disposition initiatives and affordable housing loan programs. Co-Chairs Kurt James of KJP and Carol McIver of MassHousing moderated a panel discussion on the Mayor’s plans for the upcoming year under the leadership of Sheila Dillon, Cabinet Chief of Housing and Director the Department of Neighborhood Development (DND). As a member of Mayor Walsh’s Cabinet, [...]
KJP represented Boston Private Bank & Trust Company in closing a $21MM loan for the benefit of Cruz Development Corporation. Boston Private purchased tax exempt bonds from Massachusetts Development Finance Agency and made the proceeds from the sale of the bonds available to finance the acquisition and development of Wayne at Bicknell, the 4th phase of a 5-phase project that in total will restructure and renovate Wayne Apartments, a 349 unit scattered site complex located on 26 scattered sites [...]
Our partners provided advice on public procurement, litigation, joint venture negotiations, and title relating to various sites, including early stages of mixed finance public/private redevelopment of existing federal public housing facility into a 275 unit mixed income facility in Danvers, Massachusetts.
Our partners represented the Boston Housing Authority (BHA) in connection with multiple phases of the re-development of the Old Colony project, a 16.7-acre affordable housing complex along Old Colony Avenue and Columbia Road, which redevelopment has been undertaken by Beacon Communities, in partnership with the BHA. We have advised the BHA on a wide scope of project-related issues relating to the development, ranging from permitting and environmental issues and negotiation of risk allocation in the development agreements and the loan documents, to forming the affiliated entity and [...]
KJP Partners represents a non-profit community development corporation in acquiring and financing the development of a 60 unit Chapter 40B multifamily elderly housing project in Wenham, Massachusetts including low income housing tax credits, One Source construction/permanent financing and local HOME, CPA and AHT funds.
KJP Partners represents a regional non-profit social services organization in negotiating the joint venture acquisition, New Markets Tax Credit financing and development of a mixed use transit oriented project in Roxbury which will include a 27,000 square foot headquarters facility for delivering rental assistance, emergency shelter, economic literacy workshops, housing counseling and other services to low-income families.
Our partners represented a non-profit community development corporation in acquiring and financing the redevelopment of a 110 unit elderly HUD 202 community in Beverly, Massachusetts utilizing low income housing tax credits and involving closing one of the first FHA 223(f) pilot projects in Massachusetts.