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.
Our partners represented a consortium of state insurance companies in providing a New Markets Tax Credit leverage loan to finance the development of a community health center in Allston, Massachusetts. The financing involved a guaranty from the Health Resources and Services Administration (HRSA).
KJP Partners represents the City of Boston in implementing its Neighborhood Homes Initiative as part of the City’s Boston 2030 Housing Plan promoting mixed income and workforce housing in communities and expanding homeownership opportunities for first time homebuyers. The firm’s involvement includes preparing all documents on behalf of the city relating to the sale of properties to qualified developers and applicable loan documents and resale restrictions.